Outset Medical (NASDAQ:OM) Upgraded to Buy at CL King

CL King upgraded shares of Outset Medical (NASDAQ:OM - Free Report) from a neutral rating to a buy rating in a research report report published on Friday, Marketbeat Ratings reports. The firm currently has $6.00 price target on the stock.

Separately, Royal Bank of Canada downgraded shares of Outset Medical from an outperform rating to a sector perform rating and reduced their target price for the stock from $14.00 to $6.00 in a research note on Friday, January 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $5.30.

Outset Medical Stock Up 5.7 %

Shares of OM stock traded up $0.11 on Friday, hitting $2.05. The stock had a trading volume of 1,105,271 shares, compared to its average volume of 1,027,094. Outset Medical has a 12-month low of $1.94 and a 12-month high of $24.13. The business has a 50 day moving average of $2.83 and a 200 day moving average of $4.75. 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 stock has a market cap of $103.55 million, a price-to-earnings ratio of -0.59 and a beta of 1.99.

Outset Medical (NASDAQ:OM - Get Free Report) last posted 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). Outset Medical had a negative return on equity of 102.50% and a negative net margin of 132.54%. The company had revenue of $30.51 million for the quarter, compared to analysts' expectations of $30.40 million. As a group, analysts expect that Outset Medical will post -2.28 EPS for the current year.

Insider Transactions at Outset Medical

In other news, SVP Marc Nash sold 678 shares of the firm'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 value of $290,862.00. Following the completion of the transaction, the senior vice president now directly owns 243,717 shares in the company, valued at $104,554,593. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Marc Nash sold 678 shares of the firm'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 value of $290,862.00. Following the completion of the transaction, the senior vice president now directly owns 243,717 shares in the company, valued at $104,554,593. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven S. Williamson sold 7,055 shares of the firm's stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $5.49, for a total transaction of $38,731.95. Following the completion of the transaction, the insider now owns 105,939 shares of the company's stock, valued at $581,605.11. The disclosure for this sale can be found here. Insiders sold 77,368 shares of company stock worth $653,545 over the last quarter. Corporate insiders own 3.70% of the company's stock.

Institutional Investors Weigh In On Outset Medical

Several hedge funds have recently bought and sold shares of the stock. US Bancorp DE lifted its holdings in shares of Outset Medical by 286.7% in the 1st quarter. US Bancorp DE now owns 2,711 shares of the company's stock worth $123,000 after acquiring an additional 2,010 shares during the last quarter. AlphaCrest Capital Management LLC bought a new stake in shares of Outset Medical in the 1st quarter worth approximately $278,000. MetLife Investment Management LLC lifted its holdings in shares of Outset Medical by 53.4% in the 1st quarter. MetLife Investment Management LLC now owns 26,064 shares of the company's stock worth $1,183,000 after acquiring an additional 9,070 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Outset Medical by 4.2% in the 1st quarter. Rhumbline Advisers now owns 49,144 shares of the company's stock worth $2,231,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Outset Medical by 1.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 222,923 shares of the company's stock worth $10,121,000 after acquiring an additional 4,042 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.