Jeffrey H. Burbank Sells 7,500 Shares of NxStage Medical Inc. (NXTM) Stock
NxStage Medical Inc. (NASDAQ:NXTM) CEO Jeffrey H. Burbank sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $25.51, for a total value of $191,325.00. Following the transaction, the chief executive officer now directly owns 905,116 shares in the company, valued at $23,089,509.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NxStage Medical Inc. (NASDAQ:NXTM) opened at 25.24 on Thursday. The company’s market cap is $1.63 billion. NxStage Medical Inc. has a 52 week low of $13.49 and a 52 week high of $26.83. The firm has a 50-day moving average price of $24.31 and a 200-day moving average price of $22.52.
Several large investors have recently modified their holdings of NXTM. 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 in the last quarter. Victory Capital Management Inc. purchased a new stake in NxStage Medical during the third quarter valued at $44,715,000. Perceptive Advisors LLC purchased a new stake in NxStage Medical during the second quarter valued at $29,971,000. Bank of Montreal Can purchased a new stake in NxStage Medical during the second quarter valued at $14,911,000. Finally, Vanguard Group Inc. raised its stake in 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. Hedge funds and other institutional investors own 98.86% of the company’s stock.
A number of equities analysts have recently weighed in on NXTM shares. Northland Securities set a $25.00 target price on NxStage Medical and gave the stock a “buy” rating in a research report on Thursday, September 15th. Zacks Investment Research raised NxStage Medical from a “hold” rating to a “strong-buy” rating and set a $24.00 target price on the stock in a research report on Thursday, November 3rd. Jefferies Group increased their price target on NxStage Medical from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Canaccord Genuity reissued a “buy” rating and issued a $28.00 price target on shares of NxStage Medical in a research report on Thursday, November 3rd. Finally, BTIG Research reissued a “buy” rating and issued a $29.00 price target on shares of NxStage Medical in a research report on Sunday, August 7th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. NxStage Medical has a consensus rating of “Buy” and an average target price of $25.67.
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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