Outset Medical (NASDAQ:OM) Shares Down 12.7% – What’s Next?

Outset Medical, Inc. (NASDAQ:OM)’s stock price fell 12.7% during trading on Friday . The stock traded as low as $9.30 and last traded at $9.85. 31,173 shares were traded during trading, a decline of 65% from the average session volume of 88,113 shares. The stock had previously closed at $11.28.

Analyst Ratings Changes

Separately, Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 target price on shares of Outset Medical in a report on Tuesday, January 7th.

Outset Medical Stock Performance

The stock has a market cap of $529.81 million, a P/E ratio of -3.96 and a beta of 2.01. The company has a fifty day moving average of $11.45 and a 200 day moving average of $11.74. The company has a debt-to-equity ratio of 4.12, a current ratio of 6.49 and a quick ratio of 5.04.

Outset Medical (NASDAQ:OM) last announced its earnings results on Wednesday, February 19th. The company reported ($6.90) EPS for the quarter, missing the consensus estimate of ($6.30) by ($0.60). The firm had revenue of $29.47 million for the quarter, compared to the consensus estimate of $28.47 million. Outset Medical had a negative return on equity of 175.64% and a negative net margin of 112.57%. On average, equities analysts predict that Outset Medical, Inc. will post -1.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Outset Medical

In other Outset Medical news, General Counsel John L. Brottem sold 2,195 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total transaction of $26,340.00. Following the sale, the general counsel now directly owns 12,079 shares of the company’s stock, valued at $144,948. The trade was a 15.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Leslie Trigg sold 4,349 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total value of $52,188.00. Following the completion of the sale, the chief executive officer now owns 59,705 shares of the company’s stock, valued at $716,460. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,511 shares of company stock valued at $244,623. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Outset Medical

Hedge funds have recently modified their holdings of the business. National Bank of Canada FI lifted its holdings in shares of Outset Medical by 79.2% in the third quarter. National Bank of Canada FI now owns 52,407 shares of the company’s stock valued at $35,000 after purchasing an additional 23,164 shares in the last quarter. Two Sigma Securities LLC lifted its holdings in shares of Outset Medical by 190.0% in the fourth quarter. Two Sigma Securities LLC now owns 42,477 shares of the company’s stock valued at $47,000 after purchasing an additional 27,830 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Outset Medical in the fourth quarter valued at $50,000. Squarepoint Ops LLC purchased a new stake in shares of Outset Medical in the fourth quarter valued at $174,000. Finally, Birchview Capital LP lifted its holdings in shares of Outset Medical by 3,587.7% in the fourth quarter. Birchview Capital LP now owns 368,766 shares of the company’s stock valued at $409,000 after purchasing an additional 358,766 shares in the last quarter.

Outset Medical Company Profile

Outset Medical, Inc, a medical technology company, engages in the development of a hemodialysis system for hemodialysis in the United States. The company offers Tablo Hemodialysis System, a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings; and manufactures, supports, and distributes for Tablo console, Tablo cartridge, and other consumables.