Outset Medical (NASDAQ:OM) Stock Breaks Above 200 Day Moving Average - Here's What Happened

Key Points

• Outset Medical shares moved above their 200-day moving average, reaching $4.24 and last trading at $4.23, compared with the average of $4.13.
• Analysts have a consensus “Hold” rating and a $10.00 price target; ratings include three Buys, one Hold, and one Sell.
• In its latest quarter, Outset Medical reported a loss of $0.68 per share, slightly better than estimates, and revenue of $33.6 million, above expectations of $31.4 million.

Outset Medical, Inc. (NASDAQ:OM - Get Free Report) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $4.13 and traded as high as $4.24. Outset Medical shares last traded at $4.23, with a volume of 38,604 shares changing hands.

Analyst Upgrades and Downgrades

OM has been the subject of several recent analyst reports. Weiss Ratings lowered Outset Medical from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, August 21st. Wall Street Zen upgraded Outset Medical from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Outset Medical currently has an average rating of "Hold" and a consensus target price of $10.00.

Outset Medical Stock Performance

The firm has a market cap of $79.52 million, a P/E ratio of -1.09 and a beta of 1.93. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.19 and a quick ratio of 4.11. The stock's 50 day moving average is $3.73 and its two-hundred day moving average is $4.13.

Outset Medical (NASDAQ:OM - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.01. The firm had revenue of $33.60 million for the quarter, compared to analysts' expectations of $31.40 million. Outset Medical had a negative net margin of 63.06% and a negative return on equity of 61.67%. As a group, equities analysts predict that Outset Medical, Inc. will post -3.81 EPS for the current year.

Institutional Trading of Outset Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC acquired a new stake in Outset Medical during the 2nd quarter worth about $98,000. Bank of New York Mellon Corp acquired a new position in shares of Outset Medical during the 2nd quarter valued at about $121,000. Marquette Asset Management LLC acquired a new position in shares of Outset Medical during the second quarter worth $212,000. Renaissance Technologies LLC lifted its position in shares of Outset Medical by 391.3% in the 1st quarter. Renaissance Technologies LLC now owns 222,075 shares of the company's stock worth $853,000 after buying an additional 176,870 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Outset Medical by 15.5% during the first quarter. Sei Investments Co. now owns 35,366 shares of the company's stock valued at $136,000 after buying an additional 4,738 shares in the last quarter.

Outset Medical Company Profile

Outset Medical, Inc is a medical technology company that develops products for hemodialysis, a treatment that filters waste and excess fluid from the blood when the kidneys are no longer able to do so adequately. The company's primary product is the Tablo Hemodialysis System, an integrated dialysis platform designed to simplify treatment for healthcare providers and support broader use of dialysis in hospitals, outpatient facilities and the home.

The Tablo system combines dialysis delivery, water purification and dialysate production in a single device and uses a touchscreen interface intended to guide users through treatment setup and operation.

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