Insider Selling: Outset Medical (NASDAQ:OM) General Counsel Sells $11,554.48 in Stock

Key Points

• Outset Medical General Counsel John Brottem sold 2,632 shares at an average price of $4.39, totaling $11,554.48. The sale covered tax withholding obligations tied to vested equity awards and reduced his direct ownership by 2.92%.
• Outset Medical shares fell 7.3% to $4.18 during mid-day trading, while the company continues to report significant losses. Its latest quarterly EPS loss of $0.80 missed estimates, although revenue of $31.64 million exceeded expectations.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $10.00 target price. Recent institutional activity was generally positive, including increased holdings by BNP Paribas Financial Markets, Geode Capital Management and Barclays.

Outset Medical, Inc. (NASDAQ:OM - Get Free Report) General Counsel John Brottem sold 2,632 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $4.39, for a total transaction of $11,554.48. Following the sale, the general counsel directly owned 87,475 shares of the company's stock, valued at approximately $384,015.25. This trade represents a 2.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Outset Medical Stock Down 7.3%

Shares of OM traded down $0.33 during mid-day trading on Tuesday, reaching $4.18. 143,860 shares of the stock traded hands, compared to its average volume of 407,222. The stock has a fifty day simple moving average of $4.58 and a 200 day simple moving average of $4.24. Outset Medical, Inc. has a 12-month low of $3.00 and a 12-month high of $16.16. The company has a quick ratio of 4.11, a current ratio of 5.19 and a debt-to-equity ratio of 1.03. The firm has a market cap of $78.57 million, a price-to-earnings ratio of -1.02 and a beta of 1.96.

Outset Medical (NASDAQ:OM - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.08). Outset Medical had a negative net margin of 63.06% and a negative return on equity of 61.67%. The business had revenue of $31.64 million for the quarter, compared to analyst estimates of $28.97 million. Sell-side analysts expect that Outset Medical, Inc. will post -3.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings upgraded Outset Medical from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Outset Medical from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, TD Cowen reissued a "buy" rating on shares of Outset Medical in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Outset Medical presently has a consensus rating of "Hold" and a consensus target price of $10.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc acquired a new position in shares of Outset Medical during the second quarter valued at $34,000. BNP Paribas Financial Markets lifted its holdings in Outset Medical by 7,013.8% in the second quarter. BNP Paribas Financial Markets now owns 2,063 shares of the company's stock worth $40,000 after purchasing an additional 2,034 shares during the period. Bank of New York Mellon Corp lifted its holdings in Outset Medical by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 62,360 shares of the company's stock worth $239,000 after purchasing an additional 2,435 shares during the period. Geode Capital Management LLC grew its position in Outset Medical by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 400,363 shares of the company's stock valued at $1,486,000 after buying an additional 3,104 shares in the last quarter. Finally, Barclays PLC grew its position in Outset Medical by 9.8% in the 4th quarter. Barclays PLC now owns 37,682 shares of the company's stock valued at $140,000 after buying an additional 3,356 shares in the last quarter.

Outset Medical Company Profile

Outset Medical is a medical technology company specializing in innovations for renal care. The company's flagship offering, the Tablo Hemodialysis System, is designed to streamline and simplify dialysis treatment across acute and outpatient settings. By integrating water purification, dialysate production, and treatment monitoring into a single device, Tablo aims to reduce the complexity and logistical burden traditionally associated with hemodialysis therapy.

Tablo's modular design allows for rapid setup and flexible deployment in hospitals, clinics, long‐term care facilities and emergency response scenarios.

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