Wall Street analysts expect NxStage Medical, Inc. (NASDAQ:NXTM) to report $104.80 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for NxStage Medical’s earnings, with the highest sales estimate coming in at $105.50 million and the lowest estimate coming in at $104.30 million. NxStage Medical reported sales of $93.01 million in the same quarter last year, which indicates a positive year over year growth rate of 12.7%. The business is scheduled to report its next quarterly earnings results on Tuesday, February 27th.
On average, analysts expect that NxStage Medical will report full-year sales of $104.80 million for the current fiscal year, with estimates ranging from $394.93 million to $402.90 million. For the next fiscal year, analysts forecast that the business will post sales of $443.89 million per share, with estimates ranging from $435.90 million to $460.20 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for NxStage Medical.
Several analysts have recently commented on NXTM shares. Zacks Investment Research downgraded shares of NxStage Medical from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Canaccord Genuity reiterated a “hold” rating and issued a $30.00 target price on shares of NxStage Medical in a report on Tuesday, October 17th. Finally, Northland Securities reiterated a “hold” rating and issued a $30.00 target price on shares of NxStage Medical in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating and nine have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $30.25.
In related news, SVP Winifred L. Swan sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $25.73, for a total transaction of $90,055.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 10,500 shares of company stock valued at $275,030 in the last 90 days. 4.70% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. purchased a new stake in NxStage Medical during the third quarter worth about $202,000. Amalgamated Bank boosted its position in NxStage Medical by 7.1% during the second quarter. Amalgamated Bank now owns 8,357 shares of the medical device company’s stock worth $210,000 after purchasing an additional 553 shares during the period. Koch Industries Inc. bought a new position in NxStage Medical during the second quarter worth about $227,000. Suntrust Banks Inc. boosted its position in NxStage Medical by 2.3% during the second quarter. Suntrust Banks Inc. now owns 9,480 shares of the medical device company’s stock worth $237,000 after purchasing an additional 209 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in NxStage Medical by 217.0% during the second quarter. BNP Paribas Arbitrage SA now owns 9,676 shares of the medical device company’s stock worth $243,000 after purchasing an additional 6,624 shares during the period. Institutional investors and hedge funds own 85.35% of the company’s stock.
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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