Outset Medical (NASDAQ:OM) Now Covered by BTIG Research

BTIG Research initiated coverage on shares of Outset Medical (NASDAQ:OM) in a report released on Monday, MarketBeat reports. The firm set a “buy” rating and a $6.00 price target on the stock. BTIG Research’s target price points to a potential upside of 139.04% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. CL King upgraded Outset Medical from a “neutral” rating to a “buy” rating and set a $6.00 target price for the company in a research note on Friday, April 5th. Royal Bank of Canada lowered Outset Medical from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $14.00 to $6.00 in a research note on Friday, January 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.42.

Outset Medical Trading Down 0.8 %

Shares of OM stock opened at $2.51 on Monday. The stock has a market cap of $126.78 million, a P/E ratio of -0.72 and a beta of 1.99. Outset Medical has a 1 year low of $1.94 and a 1 year high of $24.13. The company has a current ratio of 5.26, a quick ratio of 4.37 and a debt-to-equity ratio of 1.06. The stock has a 50 day simple moving average of $2.79 and a 200 day simple moving average of $4.53.

Outset Medical (NASDAQ:OM) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.03). The company had revenue of $30.51 million during the quarter, compared to analyst estimates of $30.40 million. Outset Medical had a negative net margin of 132.54% and a negative return on equity of 102.50%. On average, research analysts predict that Outset Medical will post -2.28 earnings per share for the current fiscal year.

Insider Activity

In other Outset Medical news, CEO Leslie Trigg sold 8,126 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $4.29, for a total transaction of $34,860.54. Following the completion of the transaction, the chief executive officer now owns 838,411 shares in the company, valued at approximately $3,596,783.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Outset Medical news, CEO Leslie Trigg sold 8,126 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $4.29, for a total transaction of $34,860.54. Following the sale, the chief executive officer now owns 838,411 shares of the company’s stock, valued at $3,596,783.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Marc Nash sold 678 shares of Outset Medical stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $429.00, for a total value of $290,862.00. Following the completion of the transaction, the senior vice president now directly owns 243,717 shares of the company’s stock, valued at $104,554,593. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,167 shares of company stock valued at $416,371. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Outset Medical

Hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE grew its stake in Outset Medical by 286.7% in the first quarter. US Bancorp DE now owns 2,711 shares of the company’s stock valued at $123,000 after acquiring an additional 2,010 shares during the period. AlphaCrest Capital Management LLC acquired a new position in shares of Outset Medical during the first quarter valued at about $278,000. MetLife Investment Management LLC lifted its position in Outset Medical by 53.4% in the 1st quarter. MetLife Investment Management LLC now owns 26,064 shares of the company’s stock valued at $1,183,000 after acquiring an additional 9,070 shares in the last quarter. Rhumbline Advisers boosted its stake in Outset Medical by 4.2% during the 1st quarter. Rhumbline Advisers now owns 49,144 shares of the company’s stock valued at $2,231,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in Outset Medical by 1.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 222,923 shares of the company’s stock worth $10,121,000 after purchasing an additional 4,042 shares in the last quarter.

About Outset Medical

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.