NxStage Medical, Inc. (NASDAQ:NXTM) had its price target increased by Jefferies Group LLC to $38.00 in a research report issued on Monday. The brokerage presently has a “buy” rating on the medical device company’s stock. Jefferies Group LLC’s price objective indicates a potential upside of 36.79% from the company’s previous close.
A number of other research analysts have also recently issued reports on NXTM. Zacks Investment Research upgraded shares of NxStage Medical from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a report on Thursday, November 3rd. Canaccord Genuity reiterated a “buy” rating and set a $28.00 price objective on shares of NxStage Medical in a 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 report on Friday, December 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $29.67.
Shares of NxStage Medical (NASDAQ:NXTM) traded down 0.97% during midday trading on Monday, hitting $27.51. 27,075 shares of the stock were exchanged. The stock’s market capitalization is $1.78 billion. NxStage Medical has a 1-year low of $13.49 and a 1-year high of $28.36. The firm’s 50 day moving average is $26.62 and its 200-day moving average is $24.76.
In other NxStage Medical news, President Joseph E. Turk, Jr. sold 1,000 shares of NxStage Medical stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $25.97, for a total value of $25,970.00. Following the sale, the president now owns 79,780 shares of the company’s stock, valued at $2,071,886.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey H. Burbank sold 7,500 shares of NxStage Medical stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $24.01, for a total transaction of $180,075.00. Following the completion of the sale, the chief executive officer now directly owns 897,616 shares in the company, valued at approximately $21,551,760.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 271,037 shares of company stock worth $7,150,473. Insiders own 4.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in NXTM. Vanguard Group Inc. raised its stake in shares of NxStage Medical by 11.6% in the second quarter. Vanguard Group Inc. now owns 4,602,539 shares of the medical device company’s stock valued at $99,783,000 after buying an additional 478,459 shares in the last quarter. BlackRock Fund Advisors raised its stake in NxStage Medical by 3.1% in the third quarter. BlackRock Fund Advisors now owns 1,879,138 shares of the medical device company’s stock valued at $46,960,000 after buying an additional 57,187 shares during the period. Sectoral Asset Management Inc. raised its stake in NxStage Medical by 11.0% in the second quarter. Sectoral Asset Management Inc. now owns 1,828,582 shares of the medical device company’s stock valued at $39,644,000 after buying an additional 181,273 shares during the period. Victory Capital Management Inc. acquired a new stake in NxStage Medical during the third quarter valued at about $44,715,000. Finally, BlackRock Institutional Trust Company N.A. raised its stake in NxStage Medical by 10.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,660,469 shares of the medical device company’s stock valued at $41,495,000 after buying an additional 157,459 shares during the period. 98.73% of the stock is currently owned by institutional investors and hedge funds.
About NxStage Medical
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.