Outset Medical (NASDAQ:OM) Trading 8.2% Higher

Outset Medical, Inc. (NASDAQ:OM – Get Rating)’s stock price was up 8.2% on Friday . The company traded as high as $23.62 and last traded at $23.59. Approximately 329,317 shares changed hands during trading, a decline of 37% from the average daily volume of 523,854 shares. The stock had previously closed at $21.81.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OM. The Goldman Sachs Group dropped their price objective on Outset Medical from $34.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, November 9th. Cowen cut their price objective on Outset Medical from $33.00 to $22.00 in a report on Wednesday, November 9th. Morgan Stanley boosted their target price on Outset Medical from $17.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, January 6th. Cowen cut their price target on shares of Outset Medical to $22.00 in a report on Tuesday, November 15th. Finally, Royal Bank of Canada assumed coverage on shares of Outset Medical in a research note on Friday, November 11th. They set an “outperform” rating and a $23.00 price objective for the company.

Outset Medical Trading Up 7.4 %

The firm has a fifty day moving average of $26.28 and a 200 day moving average of $21.00. The firm has a market capitalization of $1.14 billion, a PE ratio of -6.87 and a beta of 1.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 6.20 and a current ratio of 7.19.

Outset Medical (NASDAQ:OM – Get Rating) last posted its quarterly earnings data on Monday, February 13th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.02. The company had revenue of $32.01 million for the quarter, compared to analyst estimates of $31.51 million. Outset Medical had a negative net margin of 141.24% and a negative return on equity of 55.22%. During the same quarter last year, the firm posted ($0.87) earnings per share. Equities research analysts expect that Outset Medical, Inc. will post -3.6 EPS for the current year.

Insider Transactions at Outset Medical

In other Outset Medical news, COO Martin Vazquez sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $26.14, for a total value of $130,700.00. Following the transaction, the chief operating officer now directly owns 49,290 shares of the company’s stock, valued at approximately $1,288,440.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Steven S. Williamson sold 3,023 shares of the stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $27.92, for a total transaction of $84,402.16. Following the transaction, the insider now owns 127,165 shares of the company’s stock, valued at $3,550,446.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Martin Vazquez sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $26.14, for a total value of $130,700.00. Following the completion of the sale, the chief operating officer now directly owns 49,290 shares of the company’s stock, valued at $1,288,440.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 154,002 shares of company stock valued at $4,031,759. 4.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. US Bancorp DE lifted its stake in Outset Medical by 286.7% during the first quarter. US Bancorp DE now owns 2,711 shares of the company’s stock worth $123,000 after purchasing an additional 2,010 shares during the last quarter. AlphaCrest Capital Management LLC acquired a new position in shares of Outset Medical in the 1st quarter valued at about $278,000. MetLife Investment Management LLC grew its position in shares of Outset Medical by 53.4% during the 1st quarter. MetLife Investment Management LLC now owns 26,064 shares of the company’s stock valued at $1,183,000 after buying an additional 9,070 shares during the last quarter. Rhumbline Advisers raised its stake in Outset Medical by 4.2% during the first quarter. Rhumbline Advisers now owns 49,144 shares of the company’s stock worth $2,231,000 after acquiring an additional 2,000 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in Outset Medical by 1.8% in the first quarter. Lord Abbett & CO. LLC now owns 222,923 shares of the company’s stock worth $10,121,000 after acquiring an additional 4,042 shares during the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Outset Medical Company Profile

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