NxStage Medical, Inc. (NXTM) Sees Significant Increase in Short Interest

NxStage Medical, Inc. (NASDAQ:NXTM) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 2,724,391 shares, an increase of 53.3% from the November 30th total of 1,777,282 shares. Currently, 4.2% of the company’s stock are short sold. Based on an average trading volume of 682,466 shares, the days-to-cover ratio is currently 4.0 days.

In other news, SVP Winifred L. Swan sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $25.73, for a total value of $90,055.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 10,500 shares of company stock worth $275,030. Insiders own 4.70% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Prudential Financial Inc. purchased a new stake in NxStage Medical during the 3rd quarter valued at $202,000. Amalgamated Bank raised its stake in NxStage Medical by 7.1% during the 2nd quarter. Amalgamated Bank now owns 8,357 shares of the medical device company’s stock valued at $210,000 after buying an additional 553 shares during the last quarter. Athos Capital Ltd purchased a new stake in NxStage Medical during the 3rd quarter valued at $557,000. Suntrust Banks Inc. raised its stake in NxStage Medical by 2.3% during the 2nd quarter. Suntrust Banks Inc. now owns 9,480 shares of the medical device company’s stock valued at $237,000 after buying an additional 209 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in NxStage Medical by 217.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,676 shares of the medical device company’s stock valued at $243,000 after buying an additional 6,624 shares during the last quarter. Institutional investors and hedge funds own 85.35% of the company’s stock.

Shares of NxStage Medical (NXTM) opened at $24.49 on Friday. The firm has a market cap of $1,626.99, a price-to-earnings ratio of -349.86 and a beta of -0.08. NxStage Medical has a 12 month low of $20.45 and a 12 month high of $30.80.

NXTM has been the topic of a number of analyst reports. Northland Securities reissued a “hold” rating and issued a $30.00 price target on shares of NxStage Medical in a research report on Wednesday, November 8th. Zacks Investment Research lowered shares of NxStage Medical from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Canaccord Genuity restated a “hold” rating and issued a $30.00 price objective on shares of NxStage Medical in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $30.25.

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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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