Outset Medical, Inc. (NASDAQ:OM) Given Average Rating of “Hold” by Brokerages

Outset Medical, Inc. (NASDAQ:OM) has been assigned an average recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $10.00.

OM has been the subject of a number of analyst reports. Weiss Ratings upgraded Outset Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 7th. Wall Street Zen raised Outset Medical from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, TD Cowen restated a “buy” rating on shares of Outset Medical in a report on Friday, May 8th.

Insider Buying and Selling at Outset Medical

In related news, CFO Renee Gaeta sold 17,672 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $4.94, for a total transaction of $87,299.68. Following the completion of the sale, the chief financial officer directly owned 113,753 shares in the company, valued at approximately $561,939.82. This trade represents a 13.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Outset Medical

Institutional investors and hedge funds have recently bought and sold shares of the company. BML Capital Management LLC increased its holdings in shares of Outset Medical by 250.2% during 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 grew its position in Outset Medical by 165.8% in the third quarter. Millennium Management LLC now owns 421,409 shares of the company’s stock worth $5,950,000 after acquiring an additional 262,874 shares during the period. Ensign Peak Advisors Inc increased its stake in Outset Medical by 71.8% during the fourth quarter. Ensign Peak Advisors Inc now owns 560,169 shares of the company’s stock worth $2,078,000 after acquiring an additional 234,082 shares during the last quarter. Renaissance Technologies LLC increased its stake in Outset Medical by 391.3% during the first quarter. Renaissance Technologies LLC now owns 222,075 shares of the company’s stock worth $853,000 after acquiring an additional 176,870 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in Outset Medical by 10.2% during the third quarter. Alyeska Investment Group L.P. now owns 1,614,582 shares of the company’s stock worth $22,798,000 after acquiring an additional 150,000 shares during the last quarter.

Outset Medical Price Performance

Shares of NASDAQ OM opened at $4.51 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 4.11 and a current ratio of 5.19. The firm has a fifty day moving average of $4.58 and a 200 day moving average of $4.24. The firm has a market cap of $84.79 million, a PE ratio of -1.10 and a beta of 1.96. Outset Medical has a one year low of $3.00 and a one year high of $16.16.

Outset Medical (NASDAQ:OM) last released its earnings results on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.08). The company had revenue of $31.64 million for the quarter, compared to analysts’ expectations of $28.97 million. Outset Medical had a negative return on equity of 61.67% and a negative net margin of 63.06%. As a group, research analysts predict that Outset Medical will post -3.9 EPS for the current fiscal year.

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.