Flossbach Von Storch AG Trims Position in NxStage Medical, Inc. (NXTM)

Flossbach Von Storch AG trimmed its stake in NxStage Medical, Inc. (NASDAQ:NXTM) by 8.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,732,413 shares of the medical device company’s stock after selling 260,786 shares during the quarter. NxStage Medical makes up 0.7% of Flossbach Von Storch AG’s portfolio, making the stock its 28th biggest holding. Flossbach Von Storch AG owned approximately 4.11% of NxStage Medical worth $76,234,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NXTM. Renaissance Technologies LLC acquired a new stake in NxStage Medical in the fourth quarter worth $3,390,000. Guggenheim Capital LLC grew its holdings 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 buying an additional 2,949 shares during the last quarter. Millennium Management LLC acquired a new position in shares of NxStage Medical during the fourth quarter valued at about $896,000. NJ State Employees Deferred Compensation Plan grew its holdings 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 buying an additional 8,000 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of NxStage Medical by 154.6% during the first quarter. SG Americas Securities LLC now owns 26,576 shares of the medical device company’s stock valued at $661,000 after buying an additional 16,136 shares during the last quarter. 80.44% of the stock is owned by institutional investors.

A number of brokerages have recently issued reports on NXTM. BidaskClub upgraded shares of NxStage Medical from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. ValuEngine cut shares of NxStage Medical from a “buy” rating to a “hold” rating in a report on Thursday, June 28th. Finally, Zacks Investment Research upgraded shares of NxStage Medical from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $30.00.

Shares of NASDAQ NXTM opened at $28.31 on Thursday. The stock has a market cap of $1.86 billion, a PE ratio of -128.68 and a beta of 0.02. NxStage Medical, Inc. has a 1 year low of $22.70 and a 1 year high of $29.37.

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.

Further Reading: NASDAQ Stock Market Explained

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Institutional Ownership by Quarter for NxStage Medical (NASDAQ:NXTM)

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