Outset Medical, Inc. (NASDAQ:OM) Given Average Recommendation of “Hold” by Brokerages

Outset Medical, Inc. (NASDAQ:OM) has been assigned an average rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $5.42.

A number of brokerages have weighed in on OM. BTIG Research began coverage on shares of Outset Medical in a research report on Monday. They set a “buy” rating and a $6.00 price target for the company. Royal Bank of Canada cut shares of Outset Medical from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $14.00 to $6.00 in a research report on Friday, January 12th. Finally, CL King upgraded shares of Outset Medical from a “neutral” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Friday, April 5th.

Insider Transactions at Outset Medical

In other news, SVP Marc Nash sold 678 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $429.00, for a total transaction of $290,862.00. Following the completion of the sale, the senior vice president now owns 243,717 shares in the company, valued at approximately $104,554,593. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Leslie Trigg sold 8,126 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were 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 in the company, valued at approximately $3,596,783.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Marc Nash sold 678 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $429.00, for a total transaction of $290,862.00. Following the completion of the sale, the senior vice president now owns 243,717 shares of the company’s stock, valued at approximately $104,554,593. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,167 shares of company stock worth $416,371. 4.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Outset Medical

Large investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new position in Outset Medical during the 2nd quarter worth $27,000. State of Wyoming purchased a new position in Outset Medical during the 2nd quarter worth $34,000. Public Employees Retirement Association of Colorado raised its position in Outset Medical by 240.1% during the 4th 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 raised its position in Outset Medical by 1,317.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 8,790 shares of the company’s stock worth $48,000 after buying an additional 8,170 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Outset Medical by 38.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,016 shares of the company’s stock worth $48,000 after buying an additional 837 shares during the last quarter.

Outset Medical Price Performance

Shares of OM stock opened at $2.51 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 5.26 and a quick ratio of 4.37. The firm’s 50-day moving average is $2.79 and its two-hundred day moving average is $4.53. Outset Medical has a 12 month low of $1.94 and a 12 month high of $24.13. The company has a market capitalization of $126.78 million, a PE ratio of -0.72 and a beta of 1.99.

Outset Medical (NASDAQ:OM) last issued its earnings results on Wednesday, February 21st. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.03). Outset Medical had a negative return on equity of 102.50% and a negative net margin of 132.54%. The firm had revenue of $30.51 million for the quarter, compared to analysts’ expectations of $30.40 million. Analysts predict that Outset Medical will post -2.28 earnings per share for the current year.

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.