Bank of Montreal Can Acquires New Stake in NxStage Medical Inc. (NXTM)
Bank of Montreal Can acquired a new position in shares of NxStage Medical Inc. (NASDAQ:NXTM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 687,791 shares of the medical device company’s stock, valued at approximately $14,911,000. Bank of Montreal Can owned about 1.07% of NxStage Medical at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Prudential Financial Inc. increased its stake in shares of NxStage Medical by 32.4% in the first quarter. Prudential Financial Inc. now owns 324,586 shares of the medical device company’s stock valued at $4,866,000 after buying an additional 79,500 shares during the period. Algert Global LLC increased its stake in shares of NxStage Medical by 82.1% in the first quarter. Algert Global LLC now owns 33,346 shares of the medical device company’s stock valued at $500,000 after buying an additional 15,032 shares during the period. BlackRock Group LTD increased its stake in shares of NxStage Medical by 11.7% in the first quarter. BlackRock Group LTD now owns 68,747 shares of the medical device company’s stock valued at $1,030,000 after buying an additional 7,176 shares during the period. Menta Capital LLC purchased a new stake in shares of NxStage Medical during the first quarter valued at $552,000. Finally, HBK Investments L P increased its stake in shares of NxStage Medical by 86.6% in the first quarter. HBK Investments L P now owns 63,100 shares of the medical device company’s stock valued at $946,000 after buying an additional 29,291 shares during the period. Hedge funds and other institutional investors own 98.26% of the company’s stock.
Shares of NxStage Medical Inc. (NASDAQ:NXTM) traded up 1.79% on Friday, hitting $24.99. 331,198 shares of the company traded hands. The company’s market capitalization is $1.61 billion. NxStage Medical Inc. has a 12 month low of $13.49 and a 12 month high of $26.07. The stock’s 50-day moving average price is $23.84 and its 200-day moving average price is $20.06.
NxStage Medical (NASDAQ:NXTM) last announced its earnings results on Thursday, August 4th. The medical device company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. NxStage Medical had a negative net margin of 2.06% and a negative return on equity of 3.79%. The firm had revenue of $92.20 million for the quarter, compared to the consensus estimate of $89.44 million. During the same period in the prior year, the firm earned ($0.08) EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts predict that NxStage Medical Inc. will post ($0.12) earnings per share for the current year.
Several equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of NxStage Medical from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. BTIG Research restated a “buy” rating and issued a $29.00 target price on shares of NxStage Medical in a research note on Sunday, August 7th. Jefferies Group raised their target price on shares of NxStage Medical from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Northland Securities set a $25.00 target price on shares of NxStage Medical and gave the company a “buy” rating in a research note on Thursday, September 15th. Finally, Canaccord Genuity raised their target price on shares of NxStage Medical from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. NxStage Medical has an average rating of “Buy” and a consensus target price of $26.43.
In other NxStage Medical news, Director Craig W. Moore sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $23.31, for a total transaction of $69,930.00. Following the completion of the transaction, the director now owns 90,739 shares in the company, valued at approximately $2,115,126.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.70% 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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