The NxStage Medical Inc. (NXTM) Trading Down 6.1% Following Insider Selling

The NxStage Medical Inc. (NXTM) Trading Down 6.1% Following Insider Selling

Shares of NxStage Medical Inc. (NASDAQ:NXTM) were down 6.1% on Thursday after an insider sold shares in the company. The company traded as low as $26.26 and last traded at $26.30, with a volume of 956,482 shares trading hands. The stock had previously closed at $28.01.

Specifically, Director Daniel A. Giannini sold 6,449 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $25.96, for a total value of $167,416.04. Following the sale, the director now owns 63,193 shares in the company, valued at $1,640,490.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey H. Burbank sold 7,500 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $25.51, for a total transaction of $191,325.00. Following the completion of the sale, the chief executive officer now owns 905,116 shares in the company, valued at approximately $23,089,509.16. The disclosure for this sale can be found here. Insiders sold 130,706 shares of company stock worth $3,447,287 in the last 90 days. 4.70% of the stock is currently owned by company insiders.

NXTM has been the topic of a number of analyst reports. Canaccord Genuity reiterated a “buy” rating and set a $28.00 price objective on shares of NxStage Medical in a research report on Thursday, November 3rd. Zacks Investment Research upgraded shares of NxStage Medical from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, November 3rd. Finally, Northland Securities set a $35.00 price objective on shares of NxStage Medical and gave the company a “buy” rating in a research report on Friday, December 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $27.83.

The firm’s market capitalization is $1.70 billion. The firm has a 50 day moving average price of $25.96 and a 200-day moving average price of $24.30.

Several hedge funds have recently made changes to their positions in NXTM. Principal Financial Group Inc. boosted its stake in shares of NxStage Medical by 1.1% in the third quarter. Principal Financial Group Inc. now owns 14,037 shares of the medical device company’s stock worth $351,000 after buying an additional 156 shares during the last quarter. Menta Capital LLC boosted its stake in shares of NxStage Medical by 1.0% in the second quarter. Menta Capital LLC now owns 37,180 shares of the medical device company’s stock worth $806,000 after buying an additional 380 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of NxStage Medical by 1.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 49,876 shares of the medical device company’s stock worth $1,081,000 after buying an additional 640 shares during the last quarter. BlackRock Advisors LLC boosted its stake in shares of NxStage Medical by 1.5% in the second quarter. BlackRock Advisors LLC now owns 57,870 shares of the medical device company’s stock worth $1,255,000 after buying an additional 865 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in shares of NxStage Medical by 2.4% in the second quarter. Nationwide Fund Advisors now owns 41,692 shares of the medical device company’s stock worth $904,000 after buying an additional 968 shares during the last quarter. Institutional investors own 98.74% of the company’s stock.

NxStage Medical Company Profile

NxStage Medical, Inc is a medical technology company. The Company is engaged in the development, manufacturing and marketing of products and services for patients suffering from chronic or acute kidney failure. The Company operates through three segments: System One, In-Center and Services. It offers its products and services to various markets, such as home, critical care and in-center.

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