Outset Medical (NASDAQ:OM) Shares Down 0.2% – Here’s Why

Shares of Outset Medical, Inc. (NASDAQ:OM) were down 0.2% during trading on Wednesday . The company traded as low as $4.39 and last traded at $4.53. 93,061 shares changed hands during trading, a decline of 70% from the average daily volume of 310,987 shares. The stock had previously closed at $4.54.

Wall Street Analysts Forecast Growth

OM has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Outset Medical from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Outset Medical in a research note on Wednesday, June 24th. Finally, TD Cowen reissued a “buy” rating on shares of Outset Medical in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Outset Medical currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Outset Medical Stock Performance

The company has a fifty day moving average price of $4.46 and a two-hundred day moving average price of $4.25. The firm has a market cap of $83.97 million, a price-to-earnings ratio of -1.09 and a beta of 1.95. The company has a debt-to-equity ratio of 0.87, a current ratio of 6.29 and a quick ratio of 4.97.

Outset Medical (NASDAQ:OM) last released its earnings results 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 return on equity of 56.13% and a negative net margin of 63.65%.The firm had revenue of $27.86 million for the quarter, compared to analyst estimates of $28.90 million. As a group, equities research analysts expect that Outset Medical, Inc. will post -3.82 EPS for the current year.

Insider Activity at Outset Medical

In related news, CFO Renee Gaeta sold 17,672 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $4.94, for a total value of $87,299.68. Following the sale, the chief financial officer directly owned 113,753 shares in the company, valued at $561,939.82. The trade was a 13.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 25,337 shares of company stock valued at $115,660. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BML Capital Management LLC lifted its position 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 valued at $7,304,000 after acquiring an additional 1,359,021 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Outset Medical by 165.8% during the 3rd 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 in the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of Outset Medical by 71.8% in the 4th 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 grew its holdings in shares of Outset Medical by 391.3% in the 1st 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. grew its holdings in shares of Outset Medical by 10.2% in the 3rd 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.

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.