Why Has BTIG Given NxStage Medical (NASDAQ:NXTM) a $27.00 Price Target
In an analyst note revealed to clients and investors on Friday morning, BTIG analyst has today have started coverage for NxStage Medical (NASDAQ:NXTM) shares with a Buy rating. The target price is $27.00.
Approximately 505,126 shares of stock traded hands or 6.70% up from the average. NxStage Medical, Inc. (NASDAQ:NXTM) has risen 20.51% since May 15, 2015 and is uptrending. It has outperformed by 24.32% the S&P500.
The overall sentiment of institutions has decreased to 1 in Q2 2015. Its down 1.07, from 2.07 in 2015Q2. The ratio dived, as 25 institutions have sold all the shares of NxStage Medical, Inc. that they owned while 41 funds have taken shares off the table. 15 funds have purchased shares for the first time while 51 added to their positions. These institutions now hold 55.15 million shares or 4.55% less than the 57.78 million shares they owned in 2015Q2.
The Fund Oracle Investment Management Inc currently is holding shares equating to 11.24% of its total portfolio in NxStage Medical, Inc. representing a total of 3.49 million shares. Another fund,Dafna Capital Management Llc, is holding a total of 366,554 shares equating to 5.74% of their holdings. Additionally, Deerfield Management Co has a 6.32 million share stake in NxStage Medical, Inc. which represents 3.85% of their total portfolio. The Fund, Tamarack Capital Management Llc, based out of California, has also built up a stake in the stock, which represents a total of 3.75% of their total portfolio. Finally Pura Vida Investments Llc, a fund which is based in the state of New York reported a total holdings of 310,000 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 5, 2015, shareholders of NxStage Medical, Inc. have witnessed 0 insider purchases, and a total of 23 insider sales equating to a net activity of approximately $1.78 million . Turk Joseph E Jr sold 2,000 shares worth approximately $31,600. Burbank Jeffrey H sold 10,000 shares worth approximately $155,900. Swan Winifred L sold 2,500 shares worth approximately $38,650. Moore Craig W sold 1,000 shares worth approximately $16,000. The company insider Brown Robert S. sold 10,825 shares worth $198,098.
NxStage Medical, Inc. is a medical device company. The company has a market cap of $1.27 billion. The Firm is engaged in the development, manufacturing and marketing of products for the treatment of kidney failure, fluid overload and related blood treatments and procedures. It currently has negative earnings. The Company’s products include the System One, Streamline Blood Tubing Sets and AV Fistula and Apheresis Needles.
According to Zacks Investment Research, “NxStage Medical, Inc. is a medical device company, headquartered in Lawrence, Massachusetts, USA, that develops, manufactures and markets innovative systems for the treatment of end-stage renal disease, or ESRD, and acute kidney failure.”