NxStage Medical, Inc. (NXTM) Position Decreased by Jennison Associates LLC
Jennison Associates LLC decreased its stake in shares of NxStage Medical, Inc. (NASDAQ:NXTM) by 92.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,901 shares of the medical device company’s stock after selling 602,321 shares during the period. Jennison Associates LLC owned 0.07% of NxStage Medical worth $1,226,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in NXTM. SG Americas Securities LLC acquired a new stake in shares of NxStage Medical during the first quarter valued at $140,000. Ameritas Investment Partners Inc. acquired a new stake in shares of NxStage Medical during the first quarter valued at $148,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of NxStage Medical during the second quarter valued at $203,000. Menta Capital LLC acquired a new stake in shares of NxStage Medical during the first quarter valued at $212,000. Finally, Jane Street Group LLC acquired a new stake in shares of NxStage Medical during the first quarter valued at $213,000. Institutional investors own 93.20% of the company’s stock.
NxStage Medical, Inc. (NASDAQ NXTM) opened at 27.76 on Wednesday. NxStage Medical, Inc. has a one year low of $20.45 and a one year high of $30.80. The firm has a 50-day moving average of $26.10 and a 200-day moving average of $26.00. The company’s market cap is $1.83 billion.
NxStage Medical (NASDAQ:NXTM) last released its quarterly earnings results on Monday, August 7th. The medical device company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). NxStage Medical had a negative net margin of 1.33% and a negative return on equity of 2.43%. The business had revenue of $92.20 million for the quarter, compared to analyst estimates of $96.47 million. During the same period last year, the firm earned ($0.03) earnings per share. NxStage Medical’s revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts predict that NxStage Medical, Inc. will post ($0.04) EPS for the current year.
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Several brokerages have recently commented on NXTM. William Blair cut shares of NxStage Medical from an “outperform” rating to a “market perform” rating in a research report on Monday, August 7th. Zacks Investment Research raised shares of NxStage Medical from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Thursday, August 10th. Leerink Swann cut shares of NxStage Medical from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $28.00 to $30.00 in a research report on Tuesday, August 22nd. Craig Hallum began coverage on shares of NxStage Medical in a research report on Tuesday, June 27th. They set a “buy” rating and a $32.00 price target on the stock. Finally, BidaskClub cut shares of NxStage Medical from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. NxStage Medical has a consensus rating of “Hold” and an average price target of $30.25.
In other NxStage Medical news, President Joseph E. Turk, Jr. sold 7,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $22.98, for a total value of $160,860.00. Following the transaction, the president now directly owns 82,903 shares of the company’s stock, valued at approximately $1,905,110.94. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Joseph E. Turk, Jr. sold 24,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $29.64, for a total transaction of $711,360.00. Following the completion of the transaction, the president now directly owns 82,903 shares in the company, valued at $2,457,244.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,900 shares of company stock worth $1,463,316. Insiders own 4.70% of the company’s stock.
NxStage Medical Company Profile
NxStage Medical, Inc is a medical technology company. The Company develops, manufactures and markets products and services for patients suffering from chronic or acute kidney failure. It operates through three segments. The System One segment includes revenues from the sale and rental of the System One and PureFlow SL dialysate preparation equipment and the sale of disposable products in the home and critical care markets.
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