Outset Medical, Inc. (NASDAQ:OM) Short Interest Down 49.8% in May

Outset Medical, Inc. (NASDAQ:OM - Get Free Report) saw a significant decrease in short interest in May. As of May 15th, there was short interest totalling 561,800 shares, a decrease of 49.8% from the April 30th total of 1,120,000 shares. Based on an average daily volume of 155,300 shares, the short-interest ratio is presently 3.6 days. Approximately 3.3% of the company's shares are sold short.

Analyst Ratings Changes

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

Outset Medical Stock Up 0.8%

Outset Medical stock traded up $0.14 during trading on Friday, reaching $17.75. 198,710 shares of the company's stock were exchanged, compared to its average volume of 108,856. Outset Medical has a 52-week low of $5.85 and a 52-week high of $72.60. The company has a debt-to-equity ratio of 4.12, a quick ratio of 5.04 and a current ratio of 6.49. The firm has a market cap of $314.57 million, a price-to-earnings ratio of -7.16 and a beta of 1.90. The company's 50-day moving average is $13.40 and its two-hundred day moving average is $13.35.

Outset Medical (NASDAQ:OM - Get Free Report) last issued its 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). The company had revenue of $29.75 million during the quarter, compared to analyst estimates of $27.81 million. Outset Medical had a negative net margin of 112.57% and a negative return on equity of 175.64%. On average, analysts predict that Outset Medical will post -1.99 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Two Sigma Securities LLC boosted its stake 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 purchasing an additional 27,830 shares during the period. XTX Topco Ltd acquired a new stake in shares of Outset Medical in the 4th quarter valued at $50,000. Squarepoint Ops LLC acquired a new stake in shares of Outset Medical in the 4th quarter valued at $174,000. Birchview Capital LP raised its holdings in Outset Medical by 3,587.7% in the 4th quarter. Birchview Capital LP now owns 368,766 shares of the company's stock worth $409,000 after acquiring an additional 358,766 shares during the period. Finally, Two Sigma Investments LP raised 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 acquiring an additional 129,334 shares during the period.

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.