Morgan Stanley reduced its stake in shares of NxStage Medical, Inc. (NASDAQ:NXTM) by 21.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 198,626 shares of the medical device company’s stock after selling 52,727 shares during the period. Morgan Stanley owned about 0.30% of NxStage Medical worth $5,329,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Henderson Group PLC bought a new stake in shares of NxStage Medical during the first quarter valued at approximately $12,707,000. Chicago Equity Partners LLC raised its position in NxStage Medical by 0.5% in the first quarter. Chicago Equity Partners LLC now owns 79,930 shares of the medical device company’s stock worth $2,145,000 after buying an additional 390 shares in the last quarter. Heartland Advisors Inc. acquired a new position in NxStage Medical during the first quarter worth approximately $2,683,000. Adams Diversified Equity Fund Inc. raised its position in NxStage Medical by 2.8% in the first quarter. Adams Diversified Equity Fund Inc. now owns 41,000 shares of the medical device company’s stock worth $1,100,000 after buying an additional 1,100 shares in the last quarter. Finally, Essex Investment Management Co. LLC raised its position in NxStage Medical by 15.9% in the first quarter. Essex Investment Management Co. LLC now owns 77,077 shares of the medical device company’s stock worth $2,068,000 after buying an additional 10,566 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors and hedge funds.
Shares of NxStage Medical, Inc. (NXTM) opened at 29.25 on Friday. The company’s market cap is $1.93 billion. NxStage Medical, Inc. has a 52-week low of $20.45 and a 52-week high of $30.80. The stock’s 50 day moving average price is $25.63 and its 200-day moving average price is $25.95.
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NXTM has been the topic of a number of recent analyst reports. BidaskClub raised NxStage Medical from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Craig Hallum initiated coverage on NxStage Medical in a research note on Tuesday, June 27th. They issued a “buy” rating and a $32.00 price objective on the stock. BTIG Research reissued a “buy” rating and issued a $27.00 price objective on shares of NxStage Medical in a research note on Wednesday, May 10th. Jefferies Group LLC reduced their price objective on NxStage Medical from $38.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, May 10th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $32.00 price objective on shares of NxStage Medical in a research note on Monday, May 8th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $30.29.
In other NxStage Medical news, President Joseph E. Turk, Jr. sold 24,000 shares of NxStage Medical stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $29.64, for a total transaction of $711,360.00. Following the transaction, the president now directly owns 82,903 shares of the company’s stock, valued at approximately $2,457,244.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Joseph E. Turk, Jr. sold 1,000 shares of NxStage Medical stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $25.19, for a total value of $25,190.00. Following the transaction, the president now directly owns 75,903 shares in the company, valued at $1,911,996.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,900 shares of company stock worth $1,429,518. 4.70% of the stock is currently owned by company insiders.
About NxStage Medical
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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