Outset Medical (NASDAQ:OM) Trading Down 0.2% – Here’s Why

Outset Medical, Inc. (NASDAQ:OM)’s share price was down 0.2% during trading on Wednesday . The company traded as low as $4.39 and last traded at $4.53. Approximately 93,061 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 310,987 shares. The stock had previously closed at $4.54.

Analyst Ratings Changes

A number of analysts have weighed in on OM shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Outset Medical in a report on Wednesday, June 24th. Wall Street Zen lowered shares of Outset Medical from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Outset Medical in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.00.

Outset Medical Stock Performance

The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.97 and a current ratio of 6.29. The stock has a 50 day moving average of $4.46 and a 200 day moving average of $4.25. The stock has a market capitalization of $83.97 million, a P/E ratio of -1.09 and a beta of 1.95.

Outset Medical (NASDAQ:OM) last posted its earnings results on Thursday, May 7th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.04). The company had revenue of $27.86 million during the quarter, compared to the consensus estimate of $28.90 million. Outset Medical had a negative net margin of 63.65% and a negative return on equity of 56.13%. Equities analysts predict that Outset Medical, Inc. will post -3.82 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Renee Gaeta sold 17,672 shares of Outset Medical stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $4.94, for a total value of $87,299.68. Following the sale, the chief financial officer directly owned 113,753 shares in the company, valued at $561,939.82. This trade represents a 13.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 25,337 shares of company stock valued at $115,660. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OM. BML Capital Management LLC boosted its position in Outset Medical by 250.2% during the 1st quarter. BML Capital Management LLC now owns 1,902,201 shares of the company’s stock worth $7,304,000 after acquiring an additional 1,359,021 shares during the period. Millennium Management LLC increased its holdings in shares of Outset Medical by 165.8% during the third quarter. Millennium Management LLC now owns 421,409 shares of the company’s stock valued at $5,950,000 after purchasing an additional 262,874 shares during the period. Ensign Peak Advisors Inc raised its stake in shares of Outset Medical by 71.8% during the fourth quarter. Ensign Peak Advisors Inc now owns 560,169 shares of the company’s stock valued at $2,078,000 after purchasing an additional 234,082 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Outset Medical by 391.3% during the first quarter. Renaissance Technologies LLC now owns 222,075 shares of the company’s stock valued at $853,000 after purchasing an additional 176,870 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in Outset Medical by 10.2% in the third quarter. Alyeska Investment Group L.P. now owns 1,614,582 shares of the company’s stock worth $22,798,000 after purchasing an additional 150,000 shares during the period.

About Outset Medical

Outset Medical is a medical technology company specializing in innovations for renal care. The company’s flagship offering, the Tablo Hemodialysis System, is designed to streamline and simplify dialysis treatment across acute and outpatient settings. By integrating water purification, dialysate production, and treatment monitoring into a single device, Tablo aims to reduce the complexity and logistical burden traditionally associated with hemodialysis therapy.

Tablo’s modular design allows for rapid setup and flexible deployment in hospitals, clinics, long‐term care facilities and emergency response scenarios.