Brokerages Set Outset Medical, Inc. (NASDAQ:OM) Price Target at $10.00

Shares of Outset Medical, Inc. (NASDAQ:OM) have earned an average rating of “Hold” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $10.00.

Several equities analysts recently commented on the company. Wall Street Zen raised Outset Medical from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded shares of Outset Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 7th. Finally, TD Cowen reissued a “buy” rating on shares of Outset Medical in a research report on Friday, May 8th.

Insider Activity

In other news, CFO Renee Gaeta sold 17,672 shares of the 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 transaction, the chief financial officer owned 113,753 shares of the company’s stock, valued at approximately $561,939.82. This trade represents a 13.45% decrease in their ownership of the stock. The sale was disclosed in a document filed 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. In the last quarter, insiders have sold 28,284 shares of company stock valued at $133,886. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Outset Medical

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in shares of Outset Medical in the 2nd quarter worth about $121,000. Marquette Asset Management LLC bought a new stake in shares of Outset Medical during the 2nd quarter valued at about $212,000. Renaissance Technologies LLC raised 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 period. Sei Investments Co. raised its stake in Outset Medical by 15.5% during the first quarter. Sei Investments Co. now owns 35,366 shares of the company’s stock worth $136,000 after acquiring an additional 4,738 shares during the period. Finally, BML Capital Management LLC lifted its holdings in Outset Medical by 250.2% in the first quarter. BML Capital Management LLC now owns 1,902,201 shares of the company’s stock worth $7,304,000 after acquiring an additional 1,359,021 shares during the last quarter.

Outset Medical Stock Performance

Outset Medical stock opened at $4.30 on Thursday. The stock’s 50-day moving average is $4.57 and its 200-day moving average is $4.23. The company has a market cap of $80.84 million, a price-to-earnings ratio of -1.05 and a beta of 1.96. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.19 and a quick ratio of 4.11. Outset Medical has a 12 month low of $3.00 and a 12 month high of $16.16.

Outset Medical (NASDAQ:OM) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.08). Outset Medical had a negative net margin of 63.06% and a negative return on equity of 61.67%. The business had revenue of $31.64 million for the quarter, compared to analyst estimates of $28.97 million. Equities analysts anticipate that Outset Medical will post -3.8 earnings per share for the current year.

Outset Medical Company Profile

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.