Russell Investments Group Ltd. lowered its stake in shares of NxStage Medical, Inc. (NASDAQ:NXTM) by 35.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,717 shares of the medical device company’s stock after selling 10,130 shares during the period. Russell Investments Group Ltd.’s holdings in NxStage Medical were worth $469,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. CWM LLC bought a new position in shares of NxStage Medical during the 2nd quarter valued at about $2,684,000. Bank of New York Mellon Corp lifted its holdings in shares of NxStage Medical by 0.5% during the 1st 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 purchasing an additional 2,914 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of NxStage Medical by 7.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 277,899 shares of the medical device company’s stock valued at $7,457,000 after purchasing an additional 18,189 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of NxStage Medical by 8.5% during the 1st quarter. Vanguard Group Inc. now owns 5,273,762 shares of the medical device company’s stock valued at $141,495,000 after purchasing an additional 412,233 shares in the last quarter. Finally, PEAK6 Investments L.P. bought a new position in shares of NxStage Medical during the 1st quarter valued at about $214,000. Hedge funds and other institutional investors own 92.75% of the company’s stock.
Shares of NxStage Medical, Inc. (NASDAQ NXTM) traded up 0.18% during midday trading on Thursday, reaching $27.74. The company had a trading volume of 102,876 shares. NxStage Medical, Inc. has a 12-month low of $20.45 and a 12-month high of $30.80. The stock’s 50 day moving average is $27.80 and its 200-day moving average is $25.85. The stock’s market capitalization is $1.83 billion.
NxStage Medical (NASDAQ:NXTM) last announced its earnings results on Monday, August 7th. The medical device company reported ($0.03) EPS for the quarter, meeting the 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 company had revenue of $92.20 million for the quarter, compared to analyst estimates of $96.47 million. During the same quarter in the prior year, the company earned ($0.03) EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities research analysts predict that NxStage Medical, Inc. will post ($0.05) earnings per share for the current fiscal year.
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In other NxStage Medical news, SVP Matthew W. Towse sold 4,300 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $24.16, for a total value of $103,888.00. Following the transaction, the senior vice president now owns 28,721 shares in the company, valued at $693,899.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Joseph E. Turk, Jr. sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $25.19, for a total value of $25,190.00. Following the completion of the transaction, the president now owns 75,903 shares in the company, valued at approximately $1,911,996.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,100 shares of company stock worth $1,286,389. 4.70% of the stock is owned by corporate insiders.
Several equities analysts have recently weighed in on NXTM shares. Craig Hallum started coverage on NxStage Medical in a report on Tuesday, June 27th. They set a “buy” rating and a $32.00 price objective on the stock. BidaskClub upgraded NxStage Medical from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Northland Securities reiterated a “hold” rating and set a $30.00 price objective on shares of NxStage Medical in a report on Monday, August 7th. Canaccord Genuity cut NxStage Medical from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a report on Monday, August 7th. Finally, William Blair cut NxStage Medical from an “outperform” rating to a “market perform” rating in a report on Monday, August 7th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. NxStage Medical currently has an average rating of “Hold” and a consensus target price of $30.25.
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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