Prudential Financial Inc. increased its position in shares of NxStage Medical Inc. (NASDAQ:NXTM) by 54.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 501,096 shares of the medical device company’s stock after buying an additional 176,510 shares during the period. Prudential Financial Inc. owned approximately 0.78% of NxStage Medical worth $10,863,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. HBK Investments L P raised its position in shares of NxStage Medical by 86.6% in the first quarter. HBK Investments L P now owns 63,100 shares of the medical device company’s stock worth $946,000 after buying an additional 29,291 shares in the last quarter. Bank of Montreal Can acquired a new stake in NxStage Medical during the second quarter worth about $14,911,000. Deerfield Management Co. raised its stake in NxStage Medical by 20.0% in the first quarter. Deerfield Management Co. now owns 5,506,028 shares of the medical device company’s stock worth $82,535,000 after buying an additional 917,028 shares during the period. Nuveen Asset Management LLC raised its stake in NxStage Medical by 11.2% in the first quarter. Nuveen Asset Management LLC now owns 336,055 shares of the medical device company’s stock worth $5,037,000 after buying an additional 33,974 shares during the period. Finally, Menta Capital LLC acquired a new stake in NxStage Medical during the first quarter worth about $552,000. 98.26% of the stock is currently owned by institutional investors and hedge funds.
Shares of NxStage Medical Inc. (NASDAQ:NXTM) traded up 2.67% during mid-day trading on Wednesday, hitting $25.76. The company’s stock had a trading volume of 323,313 shares. The company’s market cap is $1.66 billion. The company has a 50-day moving average of $23.82 and a 200 day moving average of $20.29. NxStage Medical Inc. has a 1-year low of $13.49 and a 1-year high of $26.07.
NxStage Medical (NASDAQ:NXTM) last announced its quarterly earnings results on Thursday, August 4th. The medical device company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $92.20 million for the quarter, compared to the consensus estimate of $89.44 million. NxStage Medical had a negative return on equity of 3.79% and a negative net margin of 2.06%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) earnings per share. On average, analysts expect that NxStage Medical Inc. will post ($0.12) EPS for the current year.
NXTM has been the topic of a number of research analyst reports. Zacks Investment Research lowered NxStage Medical from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Northland Securities raised NxStage Medical from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a report on Tuesday, June 28th. Jefferies Group raised their target price on NxStage Medical from $24.00 to $27.00 and gave the company a “buy” rating in a report on Friday, August 5th. BTIG Research reaffirmed a “buy” rating and issued a $27.00 target price on shares of NxStage Medical in a report on Tuesday, June 7th. Finally, Canaccord Genuity raised their target price on NxStage Medical from $22.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. NxStage Medical has an average rating of “Buy” and a consensus price target of $26.43.
In other NxStage Medical news, Director Craig W. Moore sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $23.31, for a total transaction of $69,930.00. Following the transaction, the director now owns 90,739 shares of the company’s stock, valued at $2,115,126.09. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 4.70% of the company’s stock.
About NxStage Medical
NxStage Medical, Inc is a medical technology company. The Company is engaged in the development, manufacturing and marketing of products and services for patients suffering from chronic or acute kidney failure. The Company operates through three segments: System One, In-Center and Services. It offers its products and services to various markets, such as home, critical care and in-center.
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