NxStage Medical (NASDAQ:NXTM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “NxStage Medical, Inc. is a medical device company, headquartered in Lawrence, Massachusetts, USA, that develops, manufactures and markets innovative systems for the treatment of end-stage renal disease, or ESRD, and acute kidney failure. “
Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity reissued a “hold” rating and issued a $30.00 price target on shares of NxStage Medical in a research note on Tuesday, October 17th. Northland Securities reissued a “hold” rating and issued a $30.00 price target on shares of NxStage Medical in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $30.25.
In other news, SVP Winifred L. Swan sold 3,500 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $25.73, for a total value of $90,055.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 10,500 shares of company stock valued at $275,030. 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. Cowen Inc. acquired a new stake in NxStage Medical during the third quarter worth approximately $1,908,000. Gabelli Funds LLC acquired a new stake in NxStage Medical during the third quarter worth approximately $4,941,000. ARP Americas LLC acquired a new stake in NxStage Medical during the third quarter worth approximately $11,219,000. Redmile Group LLC acquired a new stake in NxStage Medical during the second quarter worth approximately $16,480,000. Finally, JPMorgan Chase & Co. grew its stake in NxStage Medical by 239,738.6% during the third quarter. JPMorgan Chase & Co. now owns 1,870,741 shares of the medical device company’s stock worth $51,502,000 after purchasing an additional 1,869,961 shares during the period. 85.35% of the stock is owned by institutional investors and hedge funds.
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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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