Insider Selling: NxStage Medical Inc. (NXTM) President Sells $590,850.00 in Stock
NxStage Medical Inc. (NASDAQ:NXTM) President Joseph E. Turk, Jr. sold 22,500 shares of NxStage Medical stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $26.26, for a total value of $590,850.00. Following the sale, the president now directly owns 80,780 shares of the company’s stock, valued at approximately $2,121,282.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NxStage Medical Inc. (NASDAQ:NXTM) opened at 26.30 on Monday. The company’s 50-day moving average price is $24.29 and its 200-day moving average price is $22.29. NxStage Medical Inc. has a one year low of $13.49 and a one year high of $26.83. The stock’s market cap is $1.70 billion.
A number of large investors have recently modified their holdings of the company. FMR LLC raised its stake in shares of NxStage Medical by 67.6% in the second quarter. FMR LLC now owns 7,537,811 shares of the medical device company’s stock worth $163,420,000 after buying an additional 3,040,601 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of NxStage Medical during the third quarter worth about $44,715,000. Perceptive Advisors LLC acquired a new stake in shares of NxStage Medical during the second quarter worth about $29,971,000. Deerfield Management Co. raised its stake in shares of NxStage Medical by 20.0% in the first quarter. Deerfield Management Co. now owns 5,506,028 shares of the medical device company’s stock worth $82,535,000 after buying an additional 917,028 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of NxStage Medical during the second quarter worth about $14,911,000. Institutional investors and hedge funds own 98.86% of the company’s stock.
NXTM has been the subject of several research analyst reports. Canaccord Genuity reaffirmed a “buy” rating and set a $28.00 price target on shares of NxStage Medical in a research note on Thursday, November 3rd. Northland Securities set a $25.00 target price on NxStage Medical and gave the company a “buy” rating in a research note on Thursday, September 15th. Zacks Investment Research raised NxStage Medical from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Tuesday, August 9th. BTIG Research reissued a “buy” rating and issued a $29.00 target price on shares of NxStage Medical in a research note on Sunday, August 7th. Finally, Jefferies Group boosted their target price on NxStage Medical from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $25.67.
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.
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