Zacks Investment Research downgraded shares of NxStage Medical (NASDAQ:NXTM) from a hold rating to a sell rating in a report released on Wednesday morning.
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. “
NXTM has been the subject of a number of other research reports. Northland Securities reaffirmed a hold rating and issued a $30.00 price objective on shares of NxStage Medical in a research note on Wednesday, November 8th. BidaskClub lowered shares of NxStage Medical from a sell rating to a strong sell rating in a research note on Thursday, February 15th. Finally, ValuEngine lowered shares of NxStage Medical from a hold rating to a sell rating in a research note on Friday, February 2nd. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $30.25.
In other NxStage Medical news, SVP Winifred L. Swan sold 3,500 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $24.88, for a total value of $87,080.00. Following the completion of the sale, the senior vice president now owns 13,770 shares in the company, valued at approximately $342,597.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 10,500 shares of company stock valued at $261,485 in the last ninety days. Company insiders own 4.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Cowen Inc. purchased a new stake in NxStage Medical in the 3rd quarter worth approximately $1,908,000. Bank of Montreal Can lifted its position in NxStage Medical by 15.5% in the 4th quarter. Bank of Montreal Can now owns 572,868 shares of the medical device company’s stock worth $13,880,000 after buying an additional 77,082 shares in the last quarter. Gabelli Funds LLC purchased a new stake in NxStage Medical in the 3rd quarter worth approximately $4,941,000. FNY Partners Fund LP purchased a new stake in NxStage Medical in the 4th quarter worth approximately $300,000. Finally, JPMorgan Chase & Co. lifted its position in NxStage Medical by 239,738.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,870,741 shares of the medical device company’s stock worth $51,502,000 after buying an additional 1,869,961 shares in the last quarter. Institutional investors own 82.99% of the company’s stock.
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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