Wall Street brokerages forecast that Outset Medical, Inc. (NASDAQ:OM) will post $21.43 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Outset Medical's earnings, with the highest sales estimate coming in at $21.50 million and the lowest estimate coming in at $21.39 million. The business is expected to announce its next quarterly earnings results on Tuesday, June 8th.
On average, analysts expect that Outset Medical will report full-year sales of $92.97 million for the current financial year, with estimates ranging from $91.50 million to $93.79 million. For the next financial year, analysts anticipate that the business will report sales of $134.84 million, with estimates ranging from $119.71 million to $147.00 million. Zacks Investment Research's sales averages are an average based on a survey of research analysts that that provide coverage for Outset Medical.
Outset Medical (NASDAQ:OM) last announced its quarterly earnings results on Monday, March 8th. The company reported ($0.75) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of ($0.66) by ($0.09). The firm had revenue of $17.25 million during the quarter, compared to analysts' expectations of $13.79 million.
Several equities research analysts have issued reports on OM shares. Zacks Investment Research lowered shares of Outset Medical from a "buy" rating to a "hold" rating in a research report on Friday, April 2nd. Oppenheimer began coverage on shares of Outset Medical in a report on Wednesday, December 16th. They set a "market perform" rating for the company. Finally, Morgan Stanley upped their target price on shares of Outset Medical from $52.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 16th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Outset Medical presently has a consensus rating of "Buy" and an average target price of $56.80.
In other Outset Medical news, General Counsel John L. Brottem sold 3,500 shares of the business's stock in a transaction on Thursday, March 18th. The shares were sold at an average price of $47.71, for a total transaction of $166,985.00. Following the transaction, the general counsel now directly owns 18,172 shares of the company's stock, valued at approximately $866,986.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Martin Vazquez sold 22,500 shares of the company's stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $55.05, for a total transaction of $1,238,625.00. Following the completion of the transaction, the chief operating officer now owns 21,971 shares of the company's stock, valued at $1,209,503.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,819 shares of company stock worth $5,568,597.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baldwin Brothers Inc. MA purchased a new position in Outset Medical during the 1st quarter valued at about $27,000. State of Tennessee Treasury Department bought a new stake in shares of Outset Medical in the 3rd quarter worth approximately $82,000. Citigroup Inc. bought a new stake in shares of Outset Medical in the 4th quarter worth approximately $107,000. Strs Ohio purchased a new stake in shares of Outset Medical in the 4th quarter worth approximately $136,000. Finally, Virtu Financial LLC bought a new position in Outset Medical during the 3rd quarter valued at approximately $225,000. Institutional investors own 84.63% of the company's stock.
Shares of OM stock opened at $55.60 on Friday. Outset Medical has a 52-week low of $42.50 and a 52-week high of $66.96. The business's fifty day moving average is $51.21 and its 200 day moving average is $53.84. The company has a current ratio of 11.13, a quick ratio of 10.77 and a debt-to-equity ratio of 0.08.
Outset Medical Company Profile
Outset Medical, Inc, a medical technology company, develops a hemodialysis system for dialysis. It offers Tablo, a dialysis machine that enables dialysis care in acute and chronic settings. The Tablo comprises a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities.
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