NxStage Medical (NXTM) Stock Rating Lowered by Zacks Investment Research

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

Other equities research analysts have also issued reports about the company. ValuEngine upgraded NxStage Medical from a hold rating to a buy rating in a report on Saturday, June 2nd. BidaskClub raised NxStage Medical from a hold rating to a buy rating in a research report on Thursday, May 31st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock currently has an average rating of Hold and a consensus price target of $30.00.

NXTM traded up $0.04 on Friday, hitting $28.30. The company had a trading volume of 245,504 shares, compared to its average volume of 423,271. NxStage Medical has a 1-year low of $22.70 and a 1-year high of $29.39. The firm has a market cap of $1.85 billion, a P/E ratio of -128.64 and a beta of 0.02.

NxStage Medical (NASDAQ:NXTM) last posted its earnings results on Thursday, May 10th. The medical device company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.04). NxStage Medical had a negative return on equity of 6.85% and a negative net margin of 3.67%. The company had revenue of $107.30 million during the quarter, compared to analyst estimates of $106.95 million. research analysts expect that NxStage Medical will post -0.02 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of NXTM. Renaissance Technologies LLC bought a new position in NxStage Medical in the 4th quarter worth approximately $3,390,000. Guggenheim Capital LLC increased its position in shares of NxStage Medical by 35.5% during the fourth quarter. Guggenheim Capital LLC now owns 11,247 shares of the medical device company’s stock valued at $273,000 after purchasing an additional 2,949 shares during the period. Millennium Management LLC bought a new stake in shares of NxStage Medical during the fourth quarter valued at approximately $896,000. MetLife Investment Advisors LLC bought a new stake in shares of NxStage Medical during the fourth quarter valued at approximately $739,000. Finally, NJ State Employees Deferred Compensation Plan increased its position in shares of NxStage Medical by 22.2% during the first quarter. NJ State Employees Deferred Compensation Plan now owns 44,000 shares of the medical device company’s stock valued at $1,094,000 after purchasing an additional 8,000 shares during the period. 80.17% of the stock is currently owned by institutional investors.

About NxStage Medical

NxStage Medical, Inc, a medical technology company, develops, manufactures, and markets products and services for patients suffering from chronic or acute kidney failure. Its primary product includes the System One, a portable hemodialysis system, which is used primarily for home hemodialysis and a range of dialysis therapies to deliver in the home setting.

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