Outset Medical (NASDAQ:OM) General Counsel John Brottem Sells 2,632 Shares

Outset Medical, Inc. (NASDAQ:OM) General Counsel John Brottem sold 2,632 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $4.39, for a total transaction of $11,554.48. Following the completion of the sale, the general counsel directly owned 87,475 shares in the company, valued at approximately $384,015.25. This trade represents a 2.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Outset Medical Trading Down 7.3%

Outset Medical stock opened at $4.18 on Wednesday. The company has a quick ratio of 4.11, a current ratio of 5.19 and a debt-to-equity ratio of 1.03. The firm has a 50-day moving average price of $4.57 and a two-hundred day moving average price of $4.23. The firm has a market capitalization of $78.58 million, a price-to-earnings ratio of -1.02 and a beta of 1.96. Outset Medical, Inc. has a 52-week low of $3.00 and a 52-week high of $16.16.

Outset Medical (NASDAQ:OM) last posted its earnings results on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.08). Outset Medical had a negative return on equity of 61.67% and a negative net margin of 63.06%.The firm had revenue of $31.64 million during the quarter, compared to the consensus estimate of $28.97 million. Sell-side analysts expect that Outset Medical, Inc. will post -3.8 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on OM. Wall Street Zen upgraded Outset Medical from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings upgraded Outset Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 7th. Finally, TD Cowen reissued a “buy” rating on shares of Outset Medical in a research note 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 MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in Outset Medical by 662.8% in the second quarter. JPMorgan Chase & Co. now owns 8,452 shares of the company’s stock worth $162,000 after purchasing an additional 7,344 shares during the period. Legal & General Group Plc acquired a new position in shares of Outset Medical during the 2nd quarter valued at $34,000. Rhumbline Advisers acquired a new position in shares of Outset Medical during the 2nd quarter valued at $499,000. New York State Common Retirement Fund bought a new stake in shares of Outset Medical in the 2nd quarter worth $108,000. Finally, Quantbot Technologies LP bought a new stake in shares of Outset Medical in the 2nd quarter worth $152,000.

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.