Magnetar Financial LLC bought a new stake in shares of NxStage Medical, Inc. (NASDAQ:NXTM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,077,070 shares of the medical device company’s stock, valued at approximately $84,927,000. NxStage Medical accounts for about 1.9% of Magnetar Financial LLC’s portfolio, making the stock its 16th largest position. Magnetar Financial LLC owned approximately 4.65% of NxStage Medical as of its most recent SEC filing.
Several other large investors have also bought and sold shares of NXTM. Prudential Financial Inc. acquired a new stake in shares of NxStage Medical during the 3rd quarter valued at about $202,000. Amalgamated Bank boosted its holdings in NxStage Medical by 7.1% in the 2nd quarter. Amalgamated Bank now owns 8,357 shares of the medical device company’s stock worth $210,000 after buying an additional 553 shares during the last quarter. Koch Industries Inc. acquired a new stake in NxStage Medical in the 2nd quarter worth about $227,000. Suntrust Banks Inc. boosted its holdings in NxStage Medical by 2.3% in the 2nd quarter. Suntrust Banks Inc. now owns 9,480 shares of the medical device company’s stock worth $237,000 after buying an additional 209 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in NxStage Medical by 217.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,676 shares of the medical device company’s stock worth $243,000 after buying an additional 6,624 shares during the last quarter. Hedge funds and other institutional investors own 85.68% of the company’s stock.
Several research firms recently issued reports on NXTM. Zacks Investment Research upgraded NxStage Medical from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Thursday, August 10th. BTIG Research cut NxStage Medical from a “buy” rating to a “neutral” rating in a report on Friday, August 11th. Stephens cut NxStage Medical from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $33.00 to $30.00 in a report on Wednesday, August 9th. Jefferies Group cut NxStage Medical from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $33.00 to $30.00 in a report on Tuesday, August 8th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $30.00 price objective on shares of NxStage Medical in a report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $30.25.
In other news, President Joseph E. Turk, Jr. sold 1,000 shares of NxStage Medical stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $27.56, for a total transaction of $27,560.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Winifred L. Swan sold 3,500 shares of NxStage Medical stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $25.73, for a total transaction of $90,055.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,300 shares of company stock worth $331,126. Insiders own 4.70% of the company’s stock.
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.
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