Bank of New York Mellon Corp reduced its stake in Natus Medical Inc (NASDAQ:BABY) by 10.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 465,691 shares of the medical equipment provider’s stock after selling 54,432 shares during the quarter. Bank of New York Mellon Corp’s holdings in Natus Medical were worth $17,790,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in BABY. Crossmark Global Holdings Inc. bought a new position in Natus Medical in the 3rd quarter worth $315,000. BNP Paribas Arbitrage SA raised its holdings in Natus Medical by 54.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 17,245 shares of the medical equipment provider’s stock worth $647,000 after purchasing an additional 6,073 shares during the period. Sei Investments Co. raised its holdings in Natus Medical by 149.9% in the 3rd quarter. Sei Investments Co. now owns 7,952 shares of the medical equipment provider’s stock worth $298,000 after purchasing an additional 4,770 shares during the period. Municipal Employees Retirement System of Michigan raised its holdings in Natus Medical by 60.1% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 12,420 shares of the medical equipment provider’s stock worth $466,000 after purchasing an additional 4,660 shares during the period. Finally, Rhumbline Advisers raised its holdings in Natus Medical by 2.5% in the 3rd quarter. Rhumbline Advisers now owns 67,065 shares of the medical equipment provider’s stock worth $2,515,000 after purchasing an additional 1,620 shares during the period. 95.76% of the stock is currently owned by institutional investors.
Shares of BABY stock opened at $34.65 on Friday. The company has a current ratio of 3.32, a quick ratio of 2.54 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $1,178.85, a PE ratio of -55.89 and a beta of 0.55. Natus Medical Inc has a twelve month low of $28.00 and a twelve month high of $43.60.
Natus Medical announced that its board has approved a share buyback plan on Thursday, February 22nd that allows the company to buyback $30.00 million in outstanding shares. This buyback authorization allows the medical equipment provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
A number of brokerages recently commented on BABY. Roth Capital set a $39.00 target price on Natus Medical and gave the stock a “buy” rating in a report on Tuesday, February 27th. William Blair cut Natus Medical from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. Benchmark reaffirmed a “buy” rating and issued a $49.00 target price (down from $55.00) on shares of Natus Medical in a report on Tuesday, January 16th. BidaskClub raised Natus Medical from a “sell” rating to a “hold” rating in a report on Saturday, March 17th. Finally, Zacks Investment Research cut Natus Medical from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $44.33.
In other Natus Medical news, Director Ken Ludlum sold 4,000 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $31.68, for a total transaction of $126,720.00. Following the sale, the director now directly owns 93,825 shares of the company’s stock, valued at $2,972,376. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.50% of the stock is owned by company insiders.
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Natus Medical Company Profile
Natus Medical Incorporated is a provider of newborn care and neurology healthcare products and services used for the screening, diagnosis, detection, treatment, monitoring and tracking of common medical ailments in newborn care, hearing impairment, neurological dysfunction, epilepsy, sleep disorders, neuromuscular diseases and balance and mobility disorders.
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