NxStage Medical (NASDAQ:NXTM) Downgraded by BidaskClub to Hold

NxStage Medical (NASDAQ:NXTM) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, November 28th.

Several other research analysts have also recently weighed in on NXTM. Zacks Investment Research cut shares of NxStage Medical from a “hold” rating to a “sell” rating in a research report on Saturday, August 11th. ValuEngine raised shares of NxStage Medical from a “hold” rating to a “buy” rating in a research report on Friday, October 12th.

NxStage Medical stock opened at $28.50 on Wednesday. NxStage Medical has a 1 year low of $22.70 and a 1 year high of $29.26. The firm has a market capitalization of $1.90 billion, a P/E ratio of -129.55 and a beta of 0.05.

NxStage Medical (NASDAQ:NXTM) last released its quarterly earnings results on Wednesday, November 7th. The medical device company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. NxStage Medical had a negative net margin of 1.29% and a negative return on equity of 2.50%. The firm had revenue of $108.12 million for the quarter, compared to analysts’ expectations of $108.07 million. Equities analysts expect that NxStage Medical will post -0.02 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of NXTM. Kite Lake Capital Management UK LLP raised its holdings in NxStage Medical by 228.3% in the 3rd quarter. Kite Lake Capital Management UK LLP now owns 1,151,980 shares of the medical device company’s stock valued at $32,128,000 after buying an additional 801,048 shares during the period. BlackRock Inc. raised its holdings in NxStage Medical by 10.5% in the 2nd quarter. BlackRock Inc. now owns 5,289,606 shares of the medical device company’s stock valued at $147,581,000 after buying an additional 501,922 shares during the period. JPMorgan Chase & Co. raised its holdings in NxStage Medical by 56.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,187,250 shares of the medical device company’s stock valued at $33,113,000 after buying an additional 427,745 shares during the period. Manikay Partners LLC purchased a new stake in NxStage Medical in the 3rd quarter valued at about $11,853,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in NxStage Medical in the 2nd quarter valued at about $11,424,000. Hedge funds and other institutional investors own 83.58% of the company’s stock.

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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