Outset Medical (NASDAQ:OM) Lowered to Hold at Zacks Investment Research


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Zacks Investment Research lowered shares of Outset Medical (NASDAQ:OM) from a buy rating to a hold rating in a research report report published on Thursday morning, Zacks.com reports.

According to Zacks, “Outset Medical Inc. is a medical technology company. Its Tablo(R) Hemodialysis System represents technological advancement enabling novel, transformational dialysis care in acute and home settings. Outset Medical Inc. is based in CA, United States. “

A number of other research firms have also recently commented on OM. Oppenheimer initiated coverage on shares of Outset Medical in a research note on Wednesday, December 16th. They issued a market perform rating for the company. Morgan Stanley raised their price target on shares of Outset Medical from $52.00 to $58.00 and gave the stock an equal weight rating in a research report on Tuesday, March 16th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Outset Medical has an average rating of Buy and a consensus price target of $58.20.

Shares of OM opened at $53.77 on Thursday. Outset Medical has a twelve month low of $42.50 and a twelve month high of $66.96. The company has a debt-to-equity ratio of 0.08, a current ratio of 11.13 and a quick ratio of 10.77. The company’s fifty day simple moving average is $51.88 and its 200-day simple moving average is $53.99.

Outset Medical (NASDAQ:OM) last posted its quarterly earnings results on Monday, March 8th. The company reported ($0.75) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.66) by ($0.09). The company had revenue of $17.25 million for the quarter, compared to the consensus estimate of $13.79 million. On average, research analysts expect that Outset Medical will post -9.61 earnings per share for the current year.

In other news, CEO Leslie Trigg sold 57,500 shares of Outset Medical stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $55.39, for a total transaction of $3,184,925.00. Following the completion of the transaction, the chief executive officer now directly owns 274,424 shares of the company’s stock, valued at approximately $15,200,345.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director D Keith Grossman sold 2,592 shares of Outset Medical stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $55.06, for a total transaction of $142,715.52. Following the transaction, the director now directly owns 2,592 shares of the company’s stock, valued at $142,715.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,993,542 shares of company stock valued at $203,334,047.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Baldwin Brothers Inc. MA purchased a new stake in Outset Medical in the 1st quarter worth $27,000. State of Tennessee Treasury Department purchased a new stake in Outset Medical in the 3rd quarter worth $82,000. Citigroup Inc. purchased a new stake in Outset Medical in the 4th quarter worth $107,000. Strs Ohio purchased a new stake in Outset Medical in the 4th quarter worth $136,000. Finally, Virtu Financial LLC purchased a new stake in Outset Medical in the 3rd quarter worth $225,000. 84.63% of the stock is owned by institutional investors.

About Outset Medical

Outset Medical, Inc, a medical technology company, develops a hemodialysis system for dialysis. It offers Tablo Hemodialysis System, which comprises of a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings.

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