Outset Medical (NASDAQ:OM) Stock Price Down 9.7% - Should You Sell?

Outset Medical, Inc. (NASDAQ:OM - Get Free Report) traded down 9.7% during trading on Thursday . The stock traded as low as $17.29 and last traded at $17.61. 252,878 shares traded hands during mid-day trading, an increase of 134% from the average session volume of 107,945 shares. The stock had previously closed at $19.50.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on OM shares. Royal Bank of Canada reissued a "sector perform" rating and issued a $21.00 target price (up previously from $14.00) on shares of Outset Medical in a research report on Wednesday, May 21st. Scotiabank raised Outset Medical to a "strong-buy" rating in a research note on Thursday, May 15th. Finally, Stifel Nicolaus set a $15.00 price objective on Outset Medical in a research report on Friday, March 21st.

Outset Medical Price Performance

The firm has a market cap of $314.57 million, a P/E ratio of -7.16 and a beta of 1.90. The company has a debt-to-equity ratio of 4.12, a current ratio of 6.49 and a quick ratio of 5.04. The firm's 50 day moving average is $13.40 and its 200 day moving average is $13.35.

Outset Medical (NASDAQ:OM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($3.66) EPS for the quarter, missing analysts' consensus estimates of ($0.97) by ($2.69). Outset Medical had a negative return on equity of 175.64% and a negative net margin of 112.57%. The company had revenue of $29.75 million during the quarter, compared to the consensus estimate of $27.81 million. As a group, analysts anticipate that Outset Medical, Inc. will post -1.99 earnings per share for the current year.

Hedge Funds Weigh In On Outset Medical

Institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Securities LLC increased 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 buying an additional 27,830 shares in the last quarter. XTX Topco Ltd bought a new position in Outset Medical in the 4th quarter worth $50,000. Squarepoint Ops LLC purchased a new position in shares of Outset Medical during the 4th quarter valued at about $174,000. Birchview Capital LP boosted its position in shares of Outset Medical by 3,587.7% in the fourth quarter. Birchview Capital LP now owns 368,766 shares of the company's stock worth $409,000 after purchasing an additional 358,766 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in Outset Medical by 36.0% in the 4th quarter. Two Sigma Investments LP now owns 488,602 shares of the company's stock worth $542,000 after buying an additional 129,334 shares during the period.

About Outset Medical

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.