Outset Medical (NASDAQ:OM) Now Covered by Analysts at BTIG Research

BTIG Research initiated coverage on shares of Outset Medical (NASDAQ:OM - Free Report) in a research note released on Monday morning, MarketBeat reports. The firm issued a buy rating and a $6.00 price objective on the stock.

Several other research firms have also recently weighed in on OM. Royal Bank of Canada cut shares of 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 raised shares of Outset Medical from a neutral rating to a buy rating and set a $6.00 price objective for the company in a research note on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $5.42.

Outset Medical Stock Performance

OM traded up $0.48 during trading on Monday, hitting $2.53. The company's stock had a trading volume of 2,455,688 shares, compared to its average volume of 1,048,374. The company has a quick ratio of 4.37, a current ratio of 5.26 and a debt-to-equity ratio of 1.06. Outset Medical has a one year low of $1.94 and a one year high of $24.13. The firm has a market cap of $127.79 million, a PE ratio of -0.72 and a beta of 1.99. The business's 50 day simple moving average is $2.81 and its 200-day simple moving average is $4.59.

Outset Medical (NASDAQ:OM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.74) by ($0.03). The firm had revenue of $30.51 million during the quarter, compared to analysts' expectations of $30.40 million. Outset Medical had a negative return on equity of 102.50% and a negative net margin of 132.54%. As a group, sell-side analysts predict that Outset Medical will post -2.28 EPS for the current fiscal year.

Insider Activity at Outset Medical

In other news, SVP Marc Nash sold 678 shares of the business's stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $429.00, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Leslie Trigg sold 8,126 shares of the business's stock in a transaction dated 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 document filed with the SEC, which is available at the SEC website. Also, SVP Marc Nash sold 678 shares of the business's stock in a transaction dated 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. Insiders sold 34,167 shares of company stock worth $416,371 in the last 90 days. 4.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in Outset Medical during the 2nd quarter worth approximately $27,000. State of Wyoming purchased a new stake in Outset Medical during the 2nd quarter worth approximately $34,000. Public Employees Retirement Association of Colorado grew 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 purchasing an additional 5,774 shares during the last quarter. Nisa Investment Advisors LLC grew 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 purchasing an additional 8,170 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew 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 purchasing an additional 837 shares during the last quarter.

Outset Medical Company Profile

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.