Key Points
- Outset Medical CFO Renee Gaeta sold 17,672 shares on June 3 at an average price of $4.94, totaling about $87,300. The filing said the sale was to cover tax withholding obligations tied to vested equity awards.
- The stock was trading lower, opening at $4.58 and down 3.2% in the session cited, with the company still far below its 52-week high of $21.98. Outset Medical has a market cap of about $84.9 million.
- Recent fundamentals remain weak, with the latest quarterly report showing an EPS loss of $0.83 versus estimates of $0.79 and revenue of $27.86 million, slightly below expectations. Analysts currently have a consensus rating of Hold with an average price target of $10.00.
Outset Medical, Inc. (NASDAQ:OM - Get Free Report) CFO Renee Gaeta sold 17,672 shares of Outset Medical stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $4.94, for a total value of $87,299.68. Following the completion of the transaction, the chief financial officer owned 113,753 shares in the company, valued at approximately $561,939.82. The trade was a 13.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Outset Medical Trading Down 3.2%
Shares of OM opened at $4.58 on Friday. Outset Medical, Inc. has a 52-week low of $3.00 and a 52-week high of $21.98. The business's fifty day moving average is $4.26 and its 200-day moving average is $4.17. 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 firm has a market cap of $84.91 million, a price-to-earnings ratio of -1.10 and a beta of 1.95.
Outset Medical (NASDAQ:OM - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.04). Outset Medical had a negative net margin of 63.65% and a negative return on equity of 56.13%. The business had revenue of $27.86 million during the quarter, compared to the consensus estimate of $28.90 million. Equities analysts anticipate that Outset Medical, Inc. will post -3.82 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on OM shares. Wall Street Zen lowered Outset Medical from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. BTIG Research reduced their price objective on Outset Medical from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, February 12th. Weiss Ratings restated a "sell (e+)" rating on shares of Outset Medical in a research report on Friday, March 27th. Finally, TD Cowen restated a "buy" rating on shares of Outset Medical in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.00.
View Our Latest Research Report on Outset Medical
Institutional Investors Weigh In On Outset Medical
A number of hedge funds and other institutional investors have recently bought and sold shares of OM. BML Capital Management LLC grew 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 last quarter. Millennium Management LLC lifted its holdings in Outset Medical by 165.8% during the 3rd quarter. Millennium Management LLC now owns 421,409 shares of the company's stock worth $5,950,000 after buying an additional 262,874 shares during the period. Ensign Peak Advisors Inc lifted its holdings in Outset Medical by 71.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 560,169 shares of the company's stock worth $2,078,000 after buying an additional 234,082 shares during the period. Renaissance Technologies LLC lifted its holdings in Outset Medical by 391.3% during 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 period. Finally, Alyeska Investment Group L.P. lifted its holdings in Outset Medical by 10.2% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,614,582 shares of the company's stock worth $22,798,000 after buying an additional 150,000 shares during the period.
About Outset Medical
(
Get Free Report)
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.
Further Reading
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