BTIG Research Initiates Coverage on Outset Medical (NASDAQ:OM)

Stock analysts at BTIG Research assumed coverage on shares of Outset Medical (NASDAQ:OM) in a note issued to investors on Monday, StockNewsAPI reports. The firm set a “buy” rating and a $6.00 price target on the stock. BTIG Research’s price target suggests a potential upside of 192.68% from the stock’s current price.

Several other analysts also recently weighed in on OM. Royal Bank of Canada downgraded Outset Medical from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $14.00 to $6.00 in a research note on Friday, January 12th. CL King upgraded Outset Medical from a “neutral” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Outset Medical currently has a consensus rating of “Hold” and an average target price of $5.42.

Outset Medical Trading Up 5.7 %

Shares of NASDAQ OM opened at $2.05 on Monday. The company has a market cap of $103.55 million, a price-to-earnings ratio of -0.59 and a beta of 1.99. Outset Medical has a 12-month low of $1.94 and a 12-month 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’s 50 day simple moving average is $2.83 and its 200 day simple moving average is $4.65.

Outset Medical (NASDAQ:OM) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.77) earnings per share (EPS) 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 the consensus estimate of $30.40 million. Outset Medical had a negative return on equity of 102.50% and a negative net margin of 132.54%. Equities research analysts expect that Outset Medical will post -2.28 EPS for the current year.

Insider Transactions at Outset Medical

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

Institutional Trading of Outset Medical

A number of institutional investors and hedge funds have recently made changes to their positions in OM. Point72 Hong Kong Ltd acquired a new stake in shares of Outset Medical in the second quarter worth about $27,000. State of Wyoming acquired a new stake in shares of Outset Medical in the second quarter worth about $34,000. Public Employees Retirement Association of Colorado lifted its position in shares of Outset Medical by 240.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 8,179 shares of the company’s stock worth $44,000 after buying an additional 5,774 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Outset Medical by 1,317.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,790 shares of the company’s stock worth $48,000 after purchasing an additional 8,170 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Outset Medical by 38.4% in the third quarter. Tower Research Capital LLC TRC now owns 3,016 shares of the company’s stock worth $48,000 after purchasing an additional 837 shares during the period.

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.