Zacks Investment Research cut shares of NxStage Medical, Inc. (NASDAQ:NXTM) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

According to Zacks, “NxStage Medical, Inc. is a medical device company, headquartered in Lawrence, Massachusetts, USA, that develops, manufactures and markets innovative systems for the treatment of end-stage renal disease, or ESRD, and acute kidney failure. “

A number of other equities analysts also recently issued reports on the company. Leerink Swann downgraded 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. BTIG Research downgraded NxStage Medical from a buy rating to a neutral rating in a research report on Friday, August 11th. Stephens downgraded NxStage Medical from an overweight rating to an equal weight rating and dropped their price target for the stock from $33.00 to $30.00 in a research report on Wednesday, August 9th. Jefferies Group LLC downgraded NxStage Medical from a buy rating to a hold rating and dropped their price target for the stock from $33.00 to $30.00 in a research report on Tuesday, August 8th. Finally, William Blair downgraded NxStage Medical from an outperform rating to a market perform rating in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. NxStage Medical currently has an average rating of Hold and a consensus price target of $30.25.

Shares of NxStage Medical (NASDAQ:NXTM) opened at 27.59 on Tuesday. The company’s market cap is $1.82 billion. The stock’s 50 day moving average is $27.72 and its 200-day moving average is $25.87. NxStage Medical has a one year low of $20.45 and a one year high of $30.80.

NxStage Medical (NASDAQ:NXTM) last posted its quarterly earnings results on Monday, August 7th. The medical device company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). NxStage Medical had a negative return on equity of 2.43% and a negative net margin of 1.33%. The business had revenue of $92.20 million for the quarter, compared to the consensus estimate of $96.47 million. During the same quarter in the prior year, the company earned ($0.03) EPS. The business’s revenue was up .0% compared to the same quarter last year. Equities research analysts expect that NxStage Medical will post ($0.05) earnings per share for the current year.

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In related news, SVP Matthew W. Towse sold 4,300 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $24.16, for a total transaction of $103,888.00. Following the sale, the senior vice president now owns 28,721 shares of the company’s stock, valued at $693,899.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Joseph E. Turk, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $29.26, for a total value of $29,260.00. Following the sale, the president now directly owns 74,903 shares in the company, valued at approximately $2,191,661.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,400 shares of company stock worth $1,406,020. 4.70% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Koch Industries Inc. bought a new stake in NxStage Medical during the second quarter valued at about $227,000. The Manufacturers Life Insurance Company boosted its position in NxStage Medical by 2.1% during the second quarter. The Manufacturers Life Insurance Company now owns 50,336 shares of the medical device company’s stock valued at $1,262,000 after purchasing an additional 1,059 shares in the last quarter. Redmile Group LLC bought a new stake in NxStage Medical during the second quarter valued at about $16,480,000. State Street Corp boosted its position in NxStage Medical by 8.4% during the second quarter. State Street Corp now owns 1,340,810 shares of the medical device company’s stock valued at $33,618,000 after purchasing an additional 104,007 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in NxStage Medical by 20.1% during the second quarter. Goldman Sachs Group Inc. now owns 100,452 shares of the medical device company’s stock valued at $2,518,000 after purchasing an additional 16,817 shares in the last quarter. 92.66% of the stock is currently owned by institutional investors.

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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