NxStage Medical, Inc. (NXTM) Stake Raised by Trexquant Investment LP
Trexquant Investment LP increased its stake in NxStage Medical, Inc. (NASDAQ:NXTM) by 105.5% during the second quarter, Holdings Channel reports. The fund owned 17,387 shares of the medical device company’s stock after buying an additional 8,926 shares during the period. Trexquant Investment LP’s holdings in NxStage Medical were worth $436,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of NxStage Medical during the first quarter valued at about $140,000. Ameritas Investment Partners Inc. purchased a new stake in shares of NxStage Medical during the first quarter valued at about $148,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of NxStage Medical during the second quarter valued at about $203,000. Menta Capital LLC purchased a new stake in shares of NxStage Medical during the first quarter valued at about $212,000. Finally, Jane Street Group LLC purchased a new stake in shares of NxStage Medical during the first quarter valued at about $213,000. Institutional investors and hedge funds own 91.82% of the company’s stock.
Shares of NxStage Medical, Inc. (NXTM) opened at 29.20 on Tuesday. NxStage Medical, Inc. has a 1-year low of $20.45 and a 1-year high of $30.80. The firm has a 50-day moving average price of $25.09 and a 200-day moving average price of $25.86. The company’s market capitalization is $1.93 billion.
NxStage Medical (NASDAQ:NXTM) last announced its quarterly earnings results on Monday, August 7th. The medical device company reported ($0.03) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.03). The business had revenue of $92.20 million for the quarter, compared to analyst estimates of $96.47 million. NxStage Medical had a negative return on equity of 2.43% and a negative net margin of 1.33%. NxStage Medical’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) EPS. Equities analysts anticipate that NxStage Medical, Inc. will post ($0.04) earnings per share for the current year.
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NXTM has been the subject of a number of recent analyst reports. BidaskClub raised shares of NxStage Medical from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Craig Hallum initiated coverage on shares of NxStage Medical in a research report on Tuesday, June 27th. They set a “buy” rating and a $32.00 price target for the company. Jefferies Group LLC decreased their price target on shares of NxStage Medical from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, May 10th. BTIG Research reissued a “buy” rating and set a $27.00 price target on shares of NxStage Medical in a research report on Wednesday, May 10th. Finally, Canaccord Genuity reissued a “buy” rating and set a $32.00 price target on shares of NxStage Medical in a research report on Monday, May 8th. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $30.29.
In other NxStage Medical news, President Joseph E. Turk, Jr. sold 24,000 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $29.64, for a total value of $711,360.00. Following the transaction, the president now owns 82,903 shares of the company’s stock, valued at $2,457,244.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Winifred L. Swan sold 3,500 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $23.14, for a total value of $80,990.00. Following the completion of the transaction, the senior vice president now directly owns 17,270 shares in the company, valued at approximately $399,627.80. The disclosure for this sale can be found here. In the last three months, insiders sold 50,400 shares of company stock worth $1,327,283. Insiders own 4.70% 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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