NxStage Medical, Inc. (NASDAQ:NXTM) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of NxStage Medical, Inc. (NASDAQ:NXTM) from a hold rating to a buy rating in a research report released on Friday, June 30th.

Several other equities research analysts also recently issued reports on NXTM. BTIG Research reiterated a buy rating and issued a $27.00 target price on shares of NxStage Medical in a research note on Wednesday, May 10th. Northland Securities downgraded shares of NxStage Medical from an outperform rating to a market perform rating in a research note on Thursday, May 4th. Jefferies Group LLC cut their target price on shares of NxStage Medical from $38.00 to $33.00 and set a buy rating for the company in a research note on Wednesday, May 10th. Craig Hallum assumed coverage on shares of NxStage Medical in a research note on Tuesday, June 27th. They issued a buy rating and a $32.00 target price for the company. Finally, Canaccord Genuity reiterated a buy rating and issued a $32.00 target price on shares of NxStage Medical in a research note on Monday, May 8th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $30.50.

NxStage Medical (NASDAQ:NXTM) traded up 1.20% during trading on Friday, hitting $23.65. The stock had a trading volume of 189,525 shares. The company’s market capitalization is $1.55 billion. The stock has a 50 day moving average price of $24.06 and a 200 day moving average price of $25.91. NxStage Medical has a 12-month low of $20.45 and a 12-month high of $30.80.

NxStage Medical (NASDAQ:NXTM) last posted its quarterly earnings data on Tuesday, May 9th. The medical device company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.01. NxStage Medical had a negative net margin of 1.25% and a negative return on equity of 2.31%. The company had revenue of $96.83 million during the quarter, compared to the consensus estimate of $95.31 million. During the same period in the prior year, the business posted ($0.02) EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Equities research analysts forecast that NxStage Medical will post ($0.03) earnings per share for the current year.

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In other NxStage Medical news, SVP Matthew W. Towse sold 4,300 shares of the stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $24.16, for a total value of $103,888.00. Following the transaction, the senior vice president now directly owns 28,721 shares of the company’s stock, valued at approximately $693,899.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Joseph E. Turk, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $29.95, for a total transaction of $29,950.00. Following the completion of the transaction, the president now directly owns 77,903 shares in the company, valued at $2,333,194.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,150 shares of company stock worth $538,441. Insiders own 4.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in NxStage Medical during the fourth quarter valued at $449,000. State Street Corp boosted its position in shares of NxStage Medical by 2.2% in the fourth quarter. State Street Corp now owns 1,208,700 shares of the medical device company’s stock valued at $31,678,000 after buying an additional 26,359 shares in the last quarter. A.R.T. Advisors LLC acquired a new position in shares of NxStage Medical during the fourth quarter valued at approximately $985,000. Tudor Investment Corp Et Al acquired a new position in shares of NxStage Medical during the fourth quarter valued at approximately $233,000. Finally, Norges Bank acquired a new position in shares of NxStage Medical during the fourth quarter valued at approximately $11,841,000. 95.43% of the stock is currently owned by hedge funds and other institutional investors.

About NxStage Medical

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.

Analyst Recommendations for NxStage Medical (NASDAQ:NXTM)

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