Renee Gaeta Sells 17,672 Shares of Outset Medical (NASDAQ:OM) Stock

Outset Medical, Inc. (NASDAQ:OM) CFO Renee Gaeta sold 17,672 shares of Outset Medical stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $4.94, for a total transaction of $87,299.68. Following the transaction, the chief financial officer owned 113,753 shares of the company’s stock, valued at $561,939.82. The trade was a 13.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Outset Medical Stock Down 3.2%

Shares of Outset Medical stock traded down $0.15 during midday trading on Friday, hitting $4.58. The company had a trading volume of 128,565 shares, compared to its average volume of 496,705. Outset Medical, Inc. has a 52-week low of $3.00 and a 52-week high of $21.98. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.97 and a current ratio of 6.29. The stock has a market capitalization of $84.90 million, a P/E ratio of -1.10 and a beta of 1.95. The company has a 50 day moving average of $4.24 and a 200 day moving average of $4.17.

Outset Medical (NASDAQ:OM) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.04). Outset Medical had a negative net margin of 63.65% and a negative return on equity of 56.13%. The company had revenue of $27.86 million for the quarter, compared to analysts’ expectations of $28.90 million. On average, equities analysts predict that Outset Medical, Inc. will post -3.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on OM. BTIG Research cut their price objective on shares of Outset Medical from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Outset Medical in a report on Friday, March 27th. Wall Street Zen downgraded shares of Outset Medical from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Finally, TD Cowen reissued a “buy” rating on shares of Outset Medical in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Outset Medical has a consensus rating of “Hold” and a consensus price target of $10.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BML Capital Management LLC boosted its stake in shares of Outset Medical by 250.2% in the 1st quarter. BML Capital Management LLC now owns 1,902,201 shares of the company’s stock worth $7,304,000 after buying an additional 1,359,021 shares during the last quarter. Millennium Management LLC increased its position in Outset Medical by 165.8% during the third quarter. Millennium Management LLC now owns 421,409 shares of the company’s stock valued at $5,950,000 after acquiring an additional 262,874 shares during the last quarter. Ensign Peak Advisors Inc increased its position in Outset Medical by 71.8% during the fourth quarter. Ensign Peak Advisors Inc now owns 560,169 shares of the company’s stock valued at $2,078,000 after acquiring an additional 234,082 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Outset Medical by 391.3% in the first quarter. Renaissance Technologies LLC now owns 222,075 shares of the company’s stock valued at $853,000 after acquiring an additional 176,870 shares during the period. Finally, Alyeska Investment Group L.P. lifted its holdings in Outset Medical by 10.2% in the third quarter. Alyeska Investment Group L.P. now owns 1,614,582 shares of the company’s stock valued at $22,798,000 after acquiring an additional 150,000 shares during the period.

About Outset Medical

Outset Medical is a medical technology company specializing in innovations for renal care. The company’s flagship offering, the Tablo Hemodialysis System, is designed to streamline and simplify dialysis treatment across acute and outpatient settings. By integrating water purification, dialysate production, and treatment monitoring into a single device, Tablo aims to reduce the complexity and logistical burden traditionally associated with hemodialysis therapy.

Tablo’s modular design allows for rapid setup and flexible deployment in hospitals, clinics, long?term care facilities and emergency response scenarios.