Investors Buy NxStage Medical, Inc. (NXTM) on Weakness Following Insider Selling

Traders purchased 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 Winifred L. Swan sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $29.21, for a total transaction of $102,235.00. Following the sale, the senior vice president now owns 16,270 shares of the company’s stock, valued at approximately $475,246.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Matthew W. Towse sold 4,300 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $23.29, for a total transaction of $100,147.00. Following the completion of the transaction, the senior vice president now directly owns 29,637 shares of the company’s stock, valued at approximately $690,245.73. The disclosure for this sale can be found here. Insiders have sold a total of 53,900 shares of company stock worth $1,429,518 in the last ninety days. 4.70% of the stock is currently owned by insiders.

A number of equities research analysts have recently issued reports on NXTM shares. Craig Hallum started coverage on shares of NxStage Medical in a research note on Tuesday, June 27th. They issued a “buy” rating and a $32.00 price objective for the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $32.00 price objective on shares of NxStage Medical in a research note on Monday, May 8th. BidaskClub raised shares of NxStage Medical from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Jefferies Group LLC cut their price objective on shares of NxStage Medical from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, May 10th. Finally, Northland Securities cut shares of NxStage Medical from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.29.

The company’s 50 day moving average is $25.63 and its 200 day moving average is $25.95. The stock’s market cap is $1.93 billion.

NxStage Medical (NASDAQ:NXTM) last released its quarterly earnings results on Monday, August 7th. The medical device company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The company 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%. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, analysts predict that NxStage Medical, Inc. will post ($0.04) earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NXTM. Norges Bank purchased a new position in NxStage Medical during the fourth quarter valued at approximately $11,841,000. CWM LLC bought a new position in NxStage Medical during the second quarter worth about $2,684,000. Russell Investments Group Ltd. raised its position in NxStage Medical by 67.9% in the first quarter. Russell Investments Group Ltd. now owns 28,847 shares of the medical device company’s stock worth $773,000 after buying an additional 11,668 shares during the last quarter. Bank of New York Mellon Corp raised its position in NxStage Medical by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 639,866 shares of the medical device company’s stock worth $17,168,000 after buying an additional 2,914 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in NxStage Medical by 7.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 277,899 shares of the medical device company’s stock worth $7,457,000 after buying an additional 18,189 shares during the last quarter. 91.82% of the stock is currently owned by institutional investors.

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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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