Outset Medical, Inc. (NASDAQ:OM – Get Rating) hit a new 52-week low during mid-day trading on Tuesday after Cowen lowered their price target on the stock from $60.00 to $33.00. The company traded as low as $14.08 and last traded at $14.08, with a volume of 11888 shares trading hands. The stock had previously closed at $20.41.
Other equities research analysts have also recently issued research reports about the stock. Bank of America started coverage on shares of Outset Medical in a research note on Wednesday, March 2nd. They set a “buy” rating on the stock. Stifel Nicolaus reduced their price objective on shares of Outset Medical from $55.00 to $30.00 in a research report on Tuesday. Finally, Morgan Stanley upgraded shares of Outset Medical from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $55.00 to $50.00 in a research report on Thursday, February 17th.
In other news, CEO Leslie Trigg sold 30,000 shares of the business’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $20.95, for a total transaction of $628,500.00. Following the completion of the sale, the chief executive officer now directly owns 292,073 shares of the company’s stock, valued at $6,118,929.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel John L. Brottem sold 1,400 shares of the company’s stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $40.46, for a total transaction of $56,644.00. The disclosure for this sale can be found here. Insiders have sold 166,141 shares of company stock valued at $6,337,694 over the last ninety days. 4.00% of the stock is owned by insiders.
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A number of institutional investors have recently made changes to their positions in OM. Advisor Group Holdings Inc. raised its holdings in Outset Medical by 253.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,326 shares of the company’s stock worth $61,000 after purchasing an additional 951 shares in the last quarter. Fieldpoint Private Securities LLC bought a new position in Outset Medical in the fourth quarter worth about $67,000. IFP Advisors Inc acquired a new position in shares of Outset Medical during the fourth quarter valued at about $82,000. US Bancorp DE increased its holdings in shares of Outset Medical by 286.7% during the first quarter. US Bancorp DE now owns 2,711 shares of the company’s stock valued at $123,000 after acquiring an additional 2,010 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Outset Medical by 297.9% during the second quarter. Royal Bank of Canada now owns 3,259 shares of the company’s stock valued at $163,000 after acquiring an additional 2,440 shares in the last quarter.
The company has a debt-to-equity ratio of 0.09, a current ratio of 7.72 and a quick ratio of 6.84. The stock has a market cap of $669.06 million, a price-to-earnings ratio of -4.76 and a beta of 2.13. The company’s fifty day moving average price is $31.42 and its 200-day moving average price is $38.13.
Outset Medical (NASDAQ:OM – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.78) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.78). The firm had revenue of $30.55 million for the quarter, compared to the consensus estimate of $30.35 million. Outset Medical had a negative net margin of 125.91% and a negative return on equity of 35.58%. On average, sell-side analysts forecast that Outset Medical, Inc. will post -2.98 earnings per share for the current fiscal year.
Outset Medical Company Profile (NASDAQ:OM)
Outset Medical, Inc, a medical technology company, develops a hemodialysis system for dialysis. It provides the Tablo Hemodialysis System, which comprises a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings.
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