Renaissance Technologies LLC increased its stake in shares of NxStage Medical, Inc. (NASDAQ:NXTM) by 73.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 146,983 shares of the medical device company’s stock after buying an additional 62,200 shares during the period. Renaissance Technologies LLC owned about 0.23% of NxStage Medical worth $3,944,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Eagle Asset Management Inc. acquired a new stake in shares of NxStage Medical during the first quarter valued at about $54,558,000. Loomis Sayles & Co. L P raised its stake 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 during the last quarter. Henderson Group PLC acquired a new stake in shares of NxStage Medical during the first quarter valued at about $12,707,000. OppenheimerFunds Inc. raised its position in NxStage Medical by 54.7% in the first quarter. OppenheimerFunds Inc. now owns 1,284,754 shares of the medical device company’s stock valued at $34,470,000 after buying an additional 454,147 shares in the last quarter. Finally, Norges Bank purchased a new position in NxStage Medical during the fourth quarter valued at $11,841,000. 91.82% of the stock is currently owned by institutional investors and hedge funds.
NxStage Medical, Inc. (NASDAQ:NXTM) opened at 29.25 on Friday. NxStage Medical, Inc. has a 1-year low of $20.45 and a 1-year high of $30.80. The company’s market capitalization is $1.93 billion. The firm has a 50 day moving average of $25.63 and a 200-day moving average of $25.95.
NxStage Medical (NASDAQ:NXTM) last posted its earnings results on Monday, August 7th. The medical device company reported ($0.03) earnings per share (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 previous year, the firm earned ($0.03) earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts anticipate that NxStage Medical, Inc. will post ($0.04) earnings per share for the current fiscal year.
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Several research analysts have recently weighed in on NXTM shares. Craig Hallum lowered shares of NxStage Medical from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. BTIG Research reissued a “buy” rating and issued a $27.00 price objective 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 for the company in a report on Wednesday, May 10th. Canaccord Genuity reaffirmed a “buy” rating and set 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 and decreased their price target for the company from $33.00 to $30.00 in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The company has an average 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 firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $29.64, for a total value of $711,360.00. Following the completion of the sale, the president now owns 82,903 shares of the company’s stock, valued at $2,457,244.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Matthew W. Towse sold 4,300 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $21.36, for a total value of $91,848.00. Following the completion of the sale, the senior vice president now directly owns 29,637 shares of the company’s stock, valued at approximately $633,046.32. The disclosure for this sale can be found here. Insiders sold 53,900 shares of company stock worth $1,429,518 in the last quarter. 4.70% of the stock is owned by insiders.
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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