NxStage Medical, Inc. (NASDAQ:NXTM) issued its quarterly earnings data on Tuesday. The medical device company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. NxStage Medical had a negative net margin of 1.61% and a negative return on equity of 2.97%. The business had revenue of $96.83 million for the quarter, compared to analysts’ expectations of $95.31 million. During the same period in the previous year, the business earned ($0.02) earnings per share. The company’s revenue was up 8.5% on a year-over-year basis.
NxStage Medical (NASDAQ:NXTM) traded up 1.47% during trading on Friday, reaching $21.40. The company’s stock had a trading volume of 467,971 shares. NxStage Medical has a 52 week low of $17.84 and a 52 week high of $30.80. The firm’s market cap is $1.41 billion. The stock’s 50 day moving average is $26.18 and its 200-day moving average is $26.51.
A number of research analysts recently issued reports on NXTM shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $38.00 target price on shares of NxStage Medical in a report on Wednesday, March 22nd. Northland Securities reaffirmed a “buy” rating and set a $35.00 target price on shares of NxStage Medical in a report on Monday, April 3rd. Canaccord Genuity set a $31.00 price target on NxStage Medical and gave the stock a “buy” rating in a research note on Monday, January 23rd. Finally, BTIG Research reissued a “buy” rating and issued a $27.00 price target on shares of NxStage Medical in a research note on Wednesday, May 10th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $28.67.
In other NxStage Medical news, President Joseph E. Turk, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $29.95, for a total transaction of $29,950.00. Following the completion of the sale, the president now directly owns 77,903 shares of the company’s stock, valued at approximately $2,333,194.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey H. Burbank sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $29.01, for a total value of $217,575.00. Following the sale, the chief executive officer now directly owns 943,749 shares of the company’s stock, valued at $27,378,158.49. The disclosure for this sale can be found here. Insiders sold a total of 95,560 shares of company stock valued at $2,625,404 over the last ninety days. 4.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its position in NxStage Medical by 92.0% in the first quarter. Goldman Sachs Group Inc. now owns 83,635 shares of the medical device company’s stock valued at $2,244,000 after buying an additional 40,071 shares in the last quarter. Driehaus Capital Management LLC increased its position in NxStage Medical by 50.4% in the first quarter. Driehaus Capital Management LLC now owns 64,184 shares of the medical device company’s stock valued at $1,722,000 after buying an additional 21,495 shares during the last quarter. Clough Capital Partners L P increased its position in NxStage Medical by 945.8% in the first quarter. Clough Capital Partners L P now owns 212,300 shares of the medical device company’s stock valued at $5,696,000 after buying an additional 192,000 shares during the last quarter. Jane Street Group LLC purchased a new position in NxStage Medical during the first quarter valued at approximately $213,000. Finally, Paloma Partners Management Co purchased a new position in NxStage Medical during the first quarter valued at approximately $1,545,000. 97.26% of the stock is owned by institutional investors.
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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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