Outset Medical (NASDAQ:OM) Shares Up 0.7% - Here's Why

Outset Medical, Inc. (NASDAQ:OM - Get Free Report) traded up 0.7% during trading on Monday . The company traded as high as $19.94 and last traded at $19.21. 308,397 shares changed hands during trading, an increase of 114% from the average session volume of 144,024 shares. The stock had previously closed at $19.07.

Analyst Ratings Changes

OM has been the subject of several recent research reports. Stifel Nicolaus set a $15.00 price objective on Outset Medical in a report on Friday, March 21st. Royal Bank Of Canada reissued a "sector perform" rating and issued a $21.00 price target (up previously from $14.00) on shares of Outset Medical in a research report on Wednesday, May 21st. Scotiabank raised shares of Outset Medical to a "strong-buy" rating in a report on Thursday, May 15th. Finally, Wall Street Zen upgraded Outset Medical from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th.

Outset Medical Stock Up 1.1%

The company's 50 day simple moving average is $17.73 and its 200-day simple moving average is $14.18. The company has a debt-to-equity ratio of 0.57, a quick ratio of 6.74 and a current ratio of 8.37. The firm has a market capitalization of $368.66 million, a PE ratio of -0.71 and a beta of 2.15.

Outset Medical (NASDAQ:OM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($3.66) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.97) by ($2.69). Outset Medical had a negative net margin of 98.74% and a negative return on equity of 143.62%. The business had revenue of $29.75 million for the quarter, compared to the consensus estimate of $27.81 million. On average, analysts forecast that Outset Medical, Inc. will post -1.99 EPS for the current fiscal year.

Institutional Trading of Outset Medical

Several hedge funds have recently added to or reduced their stakes in OM. Two Sigma Securities LLC grew its holdings in Outset Medical by 190.0% in the 4th quarter. Two Sigma Securities LLC now owns 42,477 shares of the company's stock worth $47,000 after acquiring an additional 27,830 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Outset Medical in the fourth quarter worth about $50,000. TD Asset Management Inc purchased a new position in Outset Medical during the 1st quarter valued at about $589,000. Two Sigma Investments LP raised its position in Outset Medical by 36.0% during the 4th quarter. Two Sigma Investments LP now owns 488,602 shares of the company's stock valued at $542,000 after purchasing an additional 129,334 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in Outset Medical during the 4th quarter valued at approximately $174,000.

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.