NxStage Medical, Inc. (NASDAQ:NXTM) President Joseph E. Turk, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $29.95, for a total value of $29,950.00. Following the transaction, the president now owns 77,903 shares of the company’s stock, valued at $2,333,194.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
NxStage Medical, Inc. (NASDAQ:NXTM) traded up 1.47% during trading on Friday, hitting $21.40. The stock had a trading volume of 467,971 shares. The stock’s 50-day moving average price is $26.33 and its 200-day moving average price is $26.52. NxStage Medical, Inc. has a 1-year low of $16.42 and a 1-year high of $30.80. The company’s market capitalization is $1.41 billion.
NxStage Medical (NASDAQ:NXTM) last posted its quarterly earnings results on Tuesday, May 9th. The medical device company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.01. The business had revenue of $96.83 million during the quarter, compared to analysts’ expectations of $95.31 million. NxStage Medical had a negative net margin of 1.61% and a negative return on equity of 2.97%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.02) earnings per share. Analysts expect that NxStage Medical, Inc. will post ($0.03) earnings per share for the current year.
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NXTM has been the subject of several research reports. Jefferies Group LLC reissued a “buy” rating and set a $38.00 price target on shares of NxStage Medical in a report on Wednesday, March 22nd. Northland Securities lowered NxStage Medical from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 4th. Canaccord Genuity restated a “buy” rating and set a $32.00 price objective on shares of NxStage Medical in a research report on Monday, May 8th. Finally, BTIG Research reaffirmed a “buy” rating and set a $27.00 target price on shares of NxStage Medical in a report on Wednesday, May 10th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. NxStage Medical has an average rating of “Buy” and a consensus price target of $28.67.
A number of hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC increased its position in NxStage Medical by 40.6% in the third quarter. Acrospire Investment Management LLC now owns 6,578 shares of the medical device company’s stock valued at $164,000 after buying an additional 1,900 shares in the last quarter. California State Teachers Retirement System increased its position in shares of NxStage Medical by 1.0% in the third quarter. California State Teachers Retirement System now owns 134,815 shares of the medical device company’s stock worth $3,369,000 after buying an additional 1,300 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of NxStage Medical by 10.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,660,469 shares of the medical device company’s stock worth $41,495,000 after buying an additional 157,459 shares in the last quarter. BlackRock Group LTD boosted its position in shares of NxStage Medical by 2.0% in the third quarter. BlackRock Group LTD now owns 75,478 shares of the medical device company’s stock worth $1,887,000 after buying an additional 1,458 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of NxStage Medical by 2.0% in the third quarter. Rhumbline Advisers now owns 71,591 shares of the medical device company’s stock worth $1,789,000 after buying an additional 1,385 shares during the period. Institutional investors own 97.26% of the company’s stock.
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.
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