Traders Buy NxStage Medical, Inc. (NXTM) on Weakness on Insider Selling
Traders bought shares of NxStage Medical, Inc. (NASDAQ:NXTM) on weakness during trading hours on Wednesday after an insider sold shares in the company. $34.35 million flowed into the stock on the tick-up and $8.73 million flowed out of the stock on the tick-down, for a money net flow of $25.62 million into the stock. Of all equities tracked, NxStage Medical had the 26th highest net in-flow for the day. NxStage Medical traded down ($0.03) for the day and closed at $29.29Specifically, SVP Matthew W. Towse sold 4,300 shares of NxStage Medical stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $21.36, for a total value of $91,848.00. Following the sale, the senior vice president now owns 29,637 shares in the company, valued at $633,046.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Winifred L. Swan sold 3,500 shares of NxStage Medical stock in a transaction on Monday, May 15th. The shares were sold at an average price of $21.94, for a total transaction of $76,790.00. Following the completion of the sale, the senior vice president now owns 17,770 shares in the company, valued at approximately $389,873.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,900 shares of company stock worth $1,374,813. 4.70% of the stock is owned by insiders.
NXTM has been the topic of several recent analyst reports. Craig Hallum cut shares of NxStage Medical from a “buy” rating to a “hold” rating in a report on Monday. BTIG Research reiterated a “buy” rating and issued a $27.00 price target on shares of NxStage Medical in a report on Wednesday, May 10th. Jefferies Group LLC cut their price target on shares of NxStage Medical from $38.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, May 10th. Canaccord Genuity reiterated a “buy” rating and issued a $32.00 price target on shares of NxStage Medical in a report on Monday, May 8th. Finally, Stephens cut shares of NxStage Medical from an “overweight” rating to an “equal weight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. NxStage Medical currently has a consensus rating of “Hold” and a consensus price target of $29.17.
The company’s 50 day moving average price is $24.04 and its 200 day moving average price is $25.76. The firm’s market cap is $1.93 billion.
NxStage Medical (NASDAQ:NXTM) last issued its earnings results on Monday, August 7th. The medical device company reported ($0.03) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.03). NxStage Medical had a negative return on equity of 2.46% and a negative net margin of 1.33%. The company had revenue of $92.20 million during the quarter, compared to the consensus estimate of $96.47 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. NxStage Medical’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities analysts forecast that NxStage Medical, Inc. will post ($0.03) earnings per share for the current year.
A number of institutional investors have recently modified their holdings of NXTM. BlackRock Inc. increased its position in shares of NxStage Medical by 38,360.4% in the first quarter. BlackRock Inc. now owns 4,413,326 shares of the medical device company’s stock valued at $118,408,000 after buying an additional 4,401,851 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in shares of NxStage Medical during the first quarter valued at about $54,558,000. William Blair Investment Management LLC increased its position in shares of NxStage Medical by 491.6% in the second quarter. William Blair Investment Management LLC now owns 1,959,318 shares of the medical device company’s stock valued at $49,120,000 after buying an additional 1,628,114 shares in the last quarter. Loomis Sayles & Co. L P increased its position in shares of NxStage Medical by 365.9% in the first quarter. Loomis Sayles & Co. L P now owns 708,946 shares of the medical device company’s stock valued at $19,021,000 after buying an additional 556,780 shares in the last quarter. Finally, Henderson Group PLC acquired a new position in shares of NxStage Medical during the first quarter valued at about $12,707,000. Institutional investors own 91.11% of the company’s stock.
About NxStage Medical
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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