NxStage Medical (NXTM) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of NxStage Medical (NASDAQ:NXTM) from a hold rating to a buy rating in a research report released on Friday morning.

Several other analysts have also recently commented on NXTM. BidaskClub raised NxStage Medical from a hold rating to a buy rating in a research report on Tuesday, June 26th. Zacks Investment Research raised NxStage Medical from a sell rating to a hold rating in a research report on Wednesday, July 18th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $30.00.

Shares of NxStage Medical stock traded up $0.42 during midday trading on Friday, hitting $27.99. The company’s stock had a trading volume of 416,562 shares, compared to its average volume of 486,566. The stock has a market cap of $1.83 billion, a PE ratio of -127.23 and a beta of -0.06. NxStage Medical has a 1-year low of $22.70 and a 1-year high of $28.75.

NxStage Medical (NASDAQ:NXTM) last issued its earnings results on Tuesday, August 7th. The medical device company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The business had revenue of $106.97 million during the quarter, compared to analysts’ expectations of $105.35 million. NxStage Medical had a negative return on equity of 7.02% and a negative net margin of 3.67%. As a group, research analysts anticipate that NxStage Medical will post -0.02 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of NxStage Medical by 10.5% during the second quarter. BlackRock Inc. now owns 5,289,606 shares of the medical device company’s stock worth $147,581,000 after acquiring an additional 501,922 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of NxStage Medical during the second quarter worth $11,424,000. LMR Partners LLP purchased a new stake in shares of NxStage Medical during the second quarter worth $7,438,000. Water Island Capital LLC raised its holdings in shares of NxStage Medical by 12.6% during the second quarter. Water Island Capital LLC now owns 1,334,420 shares of the medical device company’s stock worth $37,230,000 after acquiring an additional 149,713 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of NxStage Medical during the second quarter worth $3,962,000. 83.12% of the stock is owned by institutional investors and hedge funds.

NxStage Medical Company Profile

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: Cash Flow Analysis in Stock Selection

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