Outset Medical, Inc. (NASDAQ:OM) Receives Consensus Rating of “Hold” from Analysts

Shares of Outset Medical, Inc. (NASDAQ:OM) have earned an average recommendation of “Hold” from the six analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $5.42.

A number of equities analysts have issued reports on OM shares. 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 report on Friday, April 5th. BTIG Research initiated coverage on Outset Medical in a research note on Monday, April 8th. They set a “buy” rating and a $6.00 price objective on the stock.

Insiders Place Their Bets

In other news, CTO Jean-Olivier Racine sold 8,306 shares of Outset Medical stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $3.27, for a total transaction of $27,160.62. Following the completion of the sale, the chief technology officer now owns 265,325 shares in the company, valued at approximately $867,612.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 23,921 shares of company stock worth $78,934 in the last quarter. 3.50% of the stock is owned by company insiders.

Institutional Trading of Outset Medical

A number of large investors have recently modified their holdings of OM. Assenagon Asset Management S.A. bought a new stake in Outset Medical in the 3rd quarter worth approximately $6,807,000. FMR LLC increased its stake in Outset Medical by 1.1% in the 3rd quarter. FMR LLC now owns 7,468,531 shares of the company’s stock worth $81,258,000 after purchasing an additional 84,320 shares during the period. Braidwell LP increased its stake in Outset Medical by 64.4% in the 3rd quarter. Braidwell LP now owns 2,400,427 shares of the company’s stock worth $26,117,000 after purchasing an additional 940,059 shares during the period. Swiss National Bank increased its stake in Outset Medical by 6.6% in the 3rd quarter. Swiss National Bank now owns 102,800 shares of the company’s stock worth $1,118,000 after purchasing an additional 6,400 shares during the period. Finally, HighTower Advisors LLC increased its stake in Outset Medical by 41.6% in the 3rd quarter. HighTower Advisors LLC now owns 84,364 shares of the company’s stock worth $916,000 after purchasing an additional 24,792 shares during the period.

Outset Medical Stock Down 3.0 %

Shares of NASDAQ OM opened at $3.87 on Friday. The company has a current ratio of 6.42, a quick ratio of 5.32 and a debt-to-equity ratio of 2.11. The company has a market cap of $200.16 million, a price-to-earnings ratio of -1.14 and a beta of 1.85. Outset Medical has a 12 month low of $1.92 and a 12 month high of $24.13. The stock has a 50-day moving average price of $2.70 and a two-hundred day moving average price of $3.75.

Outset Medical (NASDAQ:OM) last released its quarterly earnings data 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 firm had revenue of $30.51 million during the quarter, compared to analyst estimates of $30.40 million. Outset Medical had a negative net margin of 134.93% and a negative return on equity of 120.67%. As a group, analysts forecast that Outset Medical will post -2.23 earnings per share for the current fiscal 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.