Bank of New York Mellon Corp lessened its stake in shares of NxStage Medical, Inc. (NASDAQ:NXTM) by 8.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 587,996 shares of the medical device company’s stock after selling 51,870 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.89% of NxStage Medical worth $14,742,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC bought a new stake in shares of NxStage Medical during the second quarter worth $2,684,000. Russell Investments Group Ltd. grew its stake in shares of NxStage Medical by 67.9% during the first quarter. Russell Investments Group Ltd. now owns 28,847 shares of the medical device company’s stock worth $773,000 after buying an additional 11,668 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of NxStage Medical by 7.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 277,899 shares of the medical device company’s stock worth $7,457,000 after buying an additional 18,189 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of NxStage Medical by 8.5% during the first quarter. Vanguard Group Inc. now owns 5,273,762 shares of the medical device company’s stock worth $141,495,000 after buying an additional 412,233 shares during the last quarter. Finally, PEAK6 Investments L.P. bought a new stake in shares of NxStage Medical during the first quarter worth $214,000. 92.75% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This piece was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be read at https://www.dailypolitical.com/2017/09/22/bank-of-new-york-mellon-corp-decreases-holdings-in-nxstage-medical-inc-nxtm.html.

Shares of NxStage Medical, Inc. (NASDAQ:NXTM) opened at 27.75 on Friday. The company has a 50 day moving average of $27.80 and a 200 day moving average of $25.85. NxStage Medical, Inc. has a 52 week low of $20.45 and a 52 week high of $30.80. The company’s market cap is $1.83 billion.

NxStage Medical (NASDAQ:NXTM) last issued its earnings results on Monday, August 7th. The medical device company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). The company had revenue of $92.20 million for the quarter, compared to analysts’ expectations of $96.47 million. NxStage Medical had a negative net margin of 1.33% and a negative return on equity of 2.43%. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) EPS. On average, analysts expect that NxStage Medical, Inc. will post ($0.05) EPS for the current year.

A number of research firms have weighed in on NXTM. Zacks Investment Research raised shares of NxStage Medical from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Thursday, August 10th. Canaccord Genuity cut shares of NxStage Medical from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a research note on Monday, August 7th. BidaskClub cut shares of NxStage Medical from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Craig Hallum cut shares of NxStage Medical from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, BTIG Research cut shares of NxStage Medical from a “buy” rating to a “neutral” rating in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $30.25.

In related news, President Joseph E. Turk, Jr. sold 7,000 shares of NxStage Medical stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $22.98, for a total value of $160,860.00. Following the transaction, the president now owns 82,903 shares in the company, valued at approximately $1,905,110.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Joseph E. Turk, Jr. sold 24,000 shares of NxStage Medical stock in a transaction on Monday, August 7th. The stock was sold at an average price of $29.64, for a total transaction of $711,360.00. Following the completion of the transaction, the president now owns 82,903 shares in the company, valued at approximately $2,457,244.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,400 shares of company stock worth $1,403,650. 4.70% of the stock is owned by corporate insiders.

NxStage Medical Company Profile

NxStage Medical, Inc is a medical technology company. The Company develops, manufactures and markets products and services for patients suffering from chronic or acute kidney failure. It operates through three segments. The System One segment includes revenues from the sale and rental of the System One and PureFlow SL dialysate preparation equipment and the sale of disposable products in the home and critical care markets.

Institutional Ownership by Quarter for NxStage Medical (NASDAQ:NXTM)

Receive News & Ratings for NxStage Medical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NxStage Medical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.