NxStage Medical Inc. (NXTM) Trading Down 5.2% After Insider Selling
NxStage Medical Inc. (NASDAQ:NXTM) was down 5.2% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $24.16 and last traded at $24.49, with a volume of 676,148 shares. The stock had previously closed at $25.83.
Specifically, President Joseph E. Turk, Jr. sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $25.97, for a total transaction of $25,970.00. Following the sale, the president now directly owns 79,780 shares of the company’s stock, valued at approximately $2,071,886.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Craig W. Moore sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $23.31, for a total value of $69,930.00. Following the sale, the director now directly owns 90,739 shares in the company, valued at $2,115,126.09. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.
Several analysts have recently issued reports on NXTM shares. Canaccord Genuity upped their price objective on NxStage Medical from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Jefferies Group upped their price objective on NxStage Medical from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, August 5th. BTIG Research restated a “buy” rating and set a $29.00 price target on shares of NxStage Medical in a report on Sunday, August 7th. Zacks Investment Research upgraded NxStage Medical from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Tuesday, August 9th. Finally, Northland Securities set a $25.00 price target on NxStage Medical and gave the company a “buy” rating in a report on Thursday, September 15th. One 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’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $25.67.
The company’s 50-day moving average is $24.31 and its 200 day moving average is $22.52. The firm’s market cap is $1.63 billion.
Institutional investors have recently bought and sold shares of the company. BlackRock Group LTD increased its position in NxStage Medical by 11.7% in the first quarter. BlackRock Group LTD now owns 68,747 shares of the medical device company’s stock worth $1,030,000 after buying an additional 7,176 shares during the period. BNP Paribas Arbitrage SA increased its position in NxStage Medical by 57.5% in the second quarter. BNP Paribas Arbitrage SA now owns 5,548 shares of the medical device company’s stock worth $120,000 after buying an additional 2,026 shares during the period. Cutler Group LP increased its position in NxStage Medical by 28.3% in the second quarter. Cutler Group LP now owns 7,168 shares of the medical device company’s stock worth $155,000 after buying an additional 1,583 shares during the period. Nisa Investment Advisors LLC increased its position in NxStage Medical by 1,418.2% in the second quarter. Nisa Investment Advisors LLC now owns 16,700 shares of the medical device company’s stock worth $362,000 after buying an additional 15,600 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in NxStage Medical during the second quarter worth approximately $245,000. Institutional investors and hedge funds own 98.86% of the company’s stock.
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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