Convergence Investment Partners LLC bought a new position in NxStage Medical Inc. (NASDAQ:NXTM) during the second quarter, Holdings Channel reports. The firm bought 20,670 shares of the medical device company’s stock, valued at approximately $448,000.
Other institutional investors also recently made changes to their positions in the company. Deerfield Management Co. raised its position in shares of 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 last quarter. Bank of Montreal Can bought a new position in shares of NxStage Medical during the second quarter worth about $14,911,000. Vanguard Group Inc. raised its position in shares of NxStage Medical by 11.6% in the second quarter. Vanguard Group Inc. now owns 4,602,539 shares of the medical device company’s stock worth $99,783,000 after buying an additional 478,459 shares during the last quarter. Blair William & Co. IL raised its position in shares of NxStage Medical by 27.8% in the second quarter. Blair William & Co. IL now owns 1,186,242 shares of the medical device company’s stock worth $19,598,000 after buying an additional 258,162 shares during the last quarter. Finally, Columbus Circle Investors bought a new position in shares of NxStage Medical during the second quarter worth about $4,567,000. Institutional investors own 98.26% of the company’s stock.
Shares of NxStage Medical Inc. (NASDAQ:NXTM) opened at 24.21 on Wednesday. The firm has a 50-day moving average of $23.69 and a 200 day moving average of $19.60. NxStage Medical Inc. has a 12-month low of $13.49 and a 12-month high of $26.07. The firm’s market capitalization is $1.56 billion.
NxStage Medical (NASDAQ:NXTM) last released its earnings results on Thursday, August 4th. The medical device company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. NxStage Medical had a negative net margin of 2.06% and a negative return on equity of 3.79%. The firm had revenue of $92.20 million for the quarter, compared to analyst estimates of $89.44 million. During the same period last year, the firm earned ($0.08) EPS. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities research analysts expect that NxStage Medical Inc. will post ($0.12) earnings per share for the current year.
NXTM has been the topic of a number of research reports. Zacks Investment Research upgraded shares of NxStage Medical from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Tuesday, August 9th. Northland Securities upgraded shares of NxStage Medical from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research report on Tuesday, June 28th. Canaccord Genuity upped their target price on shares of NxStage Medical from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Piper Jaffray Cos. reiterated a “buy” rating and set a $21.00 target price on shares of NxStage Medical in a research report on Friday, June 3rd. Finally, BTIG Research reiterated a “buy” rating and set a $27.00 target price on shares of NxStage Medical in a research report on Tuesday, June 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $26.43.
In other NxStage Medical news, Director Craig W. Moore sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $23.31, for a total value of $69,930.00. Following the transaction, the director now directly owns 90,739 shares of the company’s stock, valued at approximately $2,115,126.09. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.70% of the stock is currently owned by company insiders.
About NxStage Medical
NxStage Medical, Inc is a medical device company. The Company is engaged in the development, manufacturing and marketing of products for the treatment of kidney failure, fluid overload and related blood treatments and procedures. The Company’s products include the System One, Streamline Blood Tubing Sets and AV Fistula and Apheresis Needles.
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