NxStage Medical, Inc. (NASDAQ:NXTM) Downgraded by Stephens

Stephens cut shares of NxStage Medical, Inc. (NASDAQ:NXTM) from an overweight rating to an equal weight rating in a research note issued to investors on Wednesday. The firm currently has $30.00 target price on the medical device company’s stock, down from their previous target price of $33.00.

Several other research firms have also recently weighed in on NXTM. Craig Hallum cut shares of NxStage Medical from a buy rating to a hold rating in a research report on Monday, August 7th. BTIG Research restated a buy rating and issued a $27.00 price objective on shares of NxStage Medical in a research report on Wednesday, May 10th. Jefferies Group LLC lowered their price objective on shares of NxStage Medical from $38.00 to $33.00 and set a buy rating for the company in a research report on Wednesday, May 10th. Canaccord Genuity restated a buy rating and issued a $32.00 price objective on shares of NxStage Medical in a research report on Monday, May 8th. Finally, Northland Securities cut shares of NxStage Medical from an outperform rating to a market perform rating in a research report on Thursday, May 4th. One research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. NxStage Medical currently has an average rating of Hold and a consensus target price of $30.29.

NxStage Medical (NASDAQ NXTM) traded down 0.20% on Wednesday, reaching $29.22. 1,627,197 shares of the company’s stock traded hands. The firm’s 50-day moving average is $24.92 and its 200 day moving average is $25.85. NxStage Medical has a 52-week low of $20.45 and a 52-week high of $30.80. The stock’s market capitalization is $1.93 billion.

NxStage Medical (NASDAQ:NXTM) last posted its quarterly earnings data on Monday, August 7th. The medical device company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $92.20 million during the quarter, compared to analysts’ expectations of $96.47 million. NxStage Medical had a negative net margin of 1.33% and a negative return on equity of 2.43%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.03) EPS. Analysts forecast that NxStage Medical will post ($0.04) EPS for the current year.

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In other news, President Joseph E. Turk, Jr. sold 1,000 shares of NxStage Medical stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $25.19, for a total transaction of $25,190.00. Following the completion of the sale, the president now owns 75,903 shares in the company, valued at approximately $1,911,996.57. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Winifred L. Swan sold 3,500 shares of NxStage Medical stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $21.94, for a total transaction of $76,790.00. Following the sale, the senior vice president now owns 17,770 shares of the company’s stock, valued at approximately $389,873.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,900 shares of company stock valued at $1,404,073. 4.70% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of NxStage Medical during the fourth quarter valued at approximately $11,841,000. CWM LLC acquired a new stake in shares of NxStage Medical during the second quarter valued at approximately $2,684,000. Bank of New York Mellon Corp boosted its stake in shares of NxStage Medical by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 639,866 shares of the medical device company’s stock valued at $17,168,000 after buying an additional 2,914 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of NxStage Medical by 67.9% in the first quarter. Russell Investments Group Ltd. now owns 28,847 shares of the medical device company’s stock valued at $773,000 after buying an additional 11,668 shares in the last quarter. Finally, Adams Diversified Equity Fund Inc. boosted its stake in shares of NxStage Medical by 2.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 41,000 shares of the medical device company’s stock valued at $1,100,000 after buying an additional 1,100 shares in the last quarter. Institutional investors own 91.11% 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.

Analyst Recommendations for NxStage Medical (NASDAQ:NXTM)

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