Clough Capital Partners L P boosted its position in NxStage Medical, Inc. (NASDAQ:NXTM) by 945.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 212,300 shares of the medical device company’s stock after buying an additional 192,000 shares during the period. Clough Capital Partners L P’s holdings in NxStage Medical were worth $5,696,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jane Street Group LLC purchased a new position in shares of NxStage Medical during the first quarter worth about $213,000. Paloma Partners Management Co purchased a new position in shares of NxStage Medical during the first quarter worth about $1,545,000. State Street Corp increased its position in shares of NxStage Medical by 2.3% in the first quarter. State Street Corp now owns 1,236,803 shares of the medical device company’s stock worth $33,182,000 after buying an additional 28,103 shares in the last quarter. Bank of America Corp DE increased its position in shares of NxStage Medical by 232.7% in the first quarter. Bank of America Corp DE now owns 211,447 shares of the medical device company’s stock worth $5,674,000 after buying an additional 147,887 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC increased its position in shares of NxStage Medical by 4.5% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 115,000 shares of the medical device company’s stock worth $3,085,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 94.74% of the company’s stock.
Shares of NxStage Medical, Inc. (NASDAQ NXTM) traded up 0.26% during mid-day trading on Wednesday, hitting $23.14. 324,793 shares of the stock traded hands. The stock’s market cap is $1.52 billion. The stock has a 50-day moving average of $23.30 and a 200 day moving average of $26.20. NxStage Medical, Inc. has a one year low of $18.79 and a one year high of $30.80.
NxStage Medical (NASDAQ:NXTM) last issued its quarterly earnings data on Tuesday, May 9th. The medical device company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. NxStage Medical had a negative net margin of 1.25% and a negative return on equity of 2.31%. The company had revenue of $96.83 million during the quarter, compared to the consensus estimate of $95.31 million. During the same quarter last year, the company earned ($0.02) earnings per share. NxStage Medical’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts predict that NxStage Medical, Inc. will post ($0.03) EPS for the current fiscal year.
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A number of research analysts recently issued reports on the stock. Jefferies Group LLC decreased their price target on shares of NxStage Medical from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, May 10th. BTIG Research reiterated a “buy” rating and issued a $27.00 price target on shares of NxStage Medical in a research note on Wednesday, May 10th. Canaccord Genuity reiterated a “buy” rating and issued a $32.00 price target on shares of NxStage Medical in a research note on Monday, May 8th. Finally, Northland Securities downgraded shares of NxStage Medical from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. NxStage Medical has an average rating of “Buy” and a consensus price target of $30.20.
In other news, insider Robert S. Brown sold 14,397 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $26.60, for a total transaction of $382,960.20. Following the completion of the transaction, the insider now directly owns 28,003 shares in the company, valued at approximately $744,879.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Joseph E. Turk, Jr. sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $29.95, for a total value of $29,950.00. Following the transaction, the president now owns 77,903 shares of the company’s stock, valued at $2,333,194.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,247 shares of company stock valued at $973,630. Company 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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