NxStage Medical, Inc. (NXTM) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of NxStage Medical, Inc. (NASDAQ:NXTM) from a hold rating to a sell rating in a research report released on Tuesday.

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. “

Several other research analysts have also recently commented on NXTM. Craig Hallum initiated coverage on NxStage Medical in a research note on Tuesday, June 27th. They set a buy rating and a $32.00 target price for the company. BidaskClub raised NxStage Medical from a hold rating to a buy rating in a research note on Friday, June 30th. Northland Securities reissued a hold rating and set a $30.00 target price on shares of NxStage Medical in a research note on Monday, August 7th. Canaccord Genuity cut NxStage Medical from a buy rating to a hold rating and set a $30.00 target price for the company. in a research note on Monday, August 7th. Finally, William Blair cut NxStage Medical from an outperform rating to a market perform rating in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $30.25.

Shares of NxStage Medical (NXTM) traded down 0.04% during midday trading on Tuesday, hitting $27.66. The company had a trading volume of 82,950 shares. NxStage Medical has a 12 month low of $20.45 and a 12 month high of $30.80. The company has a 50-day moving average of $27.74 and a 200 day moving average of $25.87. The firm’s market capitalization is $1.83 billion.

NxStage Medical (NASDAQ:NXTM) last released its earnings results on Monday, August 7th. The medical device company reported ($0.03) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.03). NxStage Medical had a negative return on equity of 2.43% and a negative net margin of 1.33%. The firm had revenue of $92.20 million during the quarter, compared to analysts’ expectations of $96.47 million. During the same period in the previous year, the firm posted ($0.03) EPS. NxStage Medical’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts expect that NxStage Medical will post ($0.05) EPS for the current fiscal year.

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In other NxStage Medical news, President Joseph E. Turk, Jr. sold 7,000 shares of NxStage Medical stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $22.98, for a total transaction of $160,860.00. Following the completion of the sale, the president now directly owns 82,903 shares of the company’s stock, valued at approximately $1,905,110.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Joseph E. Turk, Jr. sold 1,000 shares of NxStage Medical stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $27.56, for a total value of $27,560.00. The disclosure for this sale can be found here. Insiders have sold a total of 50,400 shares of company stock valued at $1,406,020 over the last ninety days. 4.70% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in NXTM. BlackRock Inc. lifted its holdings in NxStage Medical by 38,360.4% during the 1st quarter. BlackRock Inc. now owns 4,413,326 shares of the medical device company’s stock worth $118,408,000 after buying an additional 4,401,851 shares during the last quarter. FMR LLC lifted its holdings in shares of NxStage Medical by 31.8% in the 2nd quarter. FMR LLC now owns 9,860,278 shares of the medical device company’s stock valued at $247,197,000 after purchasing an additional 2,378,077 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of NxStage Medical by 491.6% in the 2nd quarter. William Blair Investment Management LLC now owns 1,959,318 shares of the medical device company’s stock valued at $49,120,000 after purchasing an additional 1,628,114 shares during the last quarter. Redmile Group LLC purchased a new stake in shares of NxStage Medical in the 2nd quarter valued at about $16,480,000. Finally, Eagle Asset Management Inc. lifted its holdings in shares of NxStage Medical by 26.6% in the 2nd quarter. Eagle Asset Management Inc. now owns 2,573,603 shares of the medical device company’s stock valued at $64,520,000 after purchasing an additional 540,103 shares during the last quarter. 92.66% of the stock is owned by institutional investors.

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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