Zacks Investment Research cut shares of NxStage Medical (NASDAQ:NXTM) from a hold rating to a sell rating in a report published 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. “

Several other research firms also recently weighed in on NXTM. ValuEngine downgraded NxStage Medical from a hold rating to a sell rating in a research note on Friday, February 2nd. Northland Securities reiterated a hold rating and set a $30.00 price target on shares of NxStage Medical in a research note on Wednesday, November 8th. BidaskClub upgraded NxStage Medical from a strong sell rating to a sell rating in a research note on Monday, February 5th. Finally, Canaccord Genuity reiterated a hold rating and set a $30.00 price target on shares of NxStage Medical in a research note on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. NxStage Medical presently has an average rating of Hold and a consensus price target of $30.25.

Shares of NxStage Medical (NASDAQ:NXTM) opened at $23.01 on Tuesday. The firm has a market capitalization of $1,541.22, a PE ratio of -328.71 and a beta of -0.08. NxStage Medical has a one year low of $20.45 and a one year high of $30.80.

In other news, SVP Winifred L. Swan sold 3,500 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $24.88, for a total value of $87,080.00. Following the completion of the transaction, the senior vice president now owns 13,770 shares of the company’s stock, valued at approximately $342,597.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.70% of the company’s stock.

Several hedge funds have recently modified their holdings of NXTM. Alpine Associates Management Inc. acquired a new position in shares of NxStage Medical in the 3rd quarter valued at about $110,163,000. Magnetar Financial LLC acquired a new position in shares of NxStage Medical in the 3rd quarter valued at about $84,927,000. JPMorgan Chase & Co. lifted its holdings in shares of NxStage Medical by 239,738.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,870,741 shares of the medical device company’s stock valued at $51,502,000 after buying an additional 1,869,961 shares during the period. State of Wisconsin Investment Board lifted its holdings in shares of NxStage Medical by 117.6% in the 4th quarter. State of Wisconsin Investment Board now owns 1,056,447 shares of the medical device company’s stock valued at $25,598,000 after buying an additional 570,847 shares during the period. Finally, Cheyne Capital Management UK LLP acquired a new position in shares of NxStage Medical in the 3rd quarter valued at about $524,000. 84.37% of the stock is owned by institutional investors and hedge funds.

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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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