Outset Medical, Inc. (NASDAQ:OM – Get Rating) – Equities researchers at Oppenheimer lifted their Q2 2022 earnings estimates for Outset Medical in a report released on Tuesday, June 14th. Oppenheimer analyst S. Kalia now expects that the company will post earnings per share of ($0.75) for the quarter, up from their previous forecast of ($0.80). The consensus estimate for Outset Medical’s current full-year earnings is ($2.98) per share. Oppenheimer also issued estimates for Outset Medical’s Q3 2022 earnings at ($0.62) EPS, Q4 2022 earnings at ($0.57) EPS, FY2022 earnings at ($2.72) EPS, Q1 2023 earnings at ($0.69) EPS, Q2 2023 earnings at ($0.68) EPS, Q3 2023 earnings at ($0.63) EPS, Q4 2023 earnings at ($0.58) EPS and FY2023 earnings at ($2.58) EPS.
Several other research firms have also commented on OM. Morgan Stanley upgraded shares of Outset Medical from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $55.00 to $50.00 in a research report on Thursday, February 17th. Bank of America assumed coverage on shares of Outset Medical in a research report on Wednesday, March 2nd. They issued a “buy” rating on the stock. Stifel Nicolaus dropped their target price on shares of Outset Medical from $55.00 to $30.00 in a research report on Tuesday. Cowen dropped their target price on shares of Outset Medical from $60.00 to $33.00 in a research report on Tuesday. Finally, Cowen dropped their target price on shares of Outset Medical from $60.00 to $33.00 and set an “outperform” rating on the stock in a research report on Tuesday.
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Shares of Outset Medical stock opened at $14.58 on Thursday. The stock has a market cap of $696.84 million, a PE ratio of -4.93 and a beta of 2.13. 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 firm has a fifty day moving average price of $30.07 and a 200 day moving average price of $37.80. Outset Medical has a 1 year low of $13.25 and a 1 year high of $60.33. Outset Medical (NASDAQ:OM – Get Rating) last issued its earnings results on Wednesday, May 4th. The company reported ($0.78) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.78). Outset Medical had a negative net margin of 125.91% and a negative return on equity of 35.58%. The firm had revenue of $30.55 million during the quarter, compared to analysts’ expectations of $30.35 million.
In other Outset Medical news, CEO Leslie Trigg sold 30,000 shares of Outset Medical stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $20.95, for a total transaction of $628,500.00. Following the transaction, 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 is available through the SEC website. Also, COO Martin Vazquez sold 20,000 shares of Outset Medical stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $45.77, for a total transaction of $915,400.00. Following the transaction, the chief operating officer now directly owns 49,495 shares in the company, valued at $2,265,386.15. The disclosure for this sale can be found here. Insiders have sold 160,080 shares of company stock worth $6,095,682 over the last ninety days. 4.00% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. increased its stake in Outset Medical by 253.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,326 shares of the company’s stock worth $61,000 after buying an additional 951 shares during the period. Fieldpoint Private Securities LLC purchased a new stake in Outset Medical during the 4th quarter worth approximately $67,000. IFP Advisors Inc purchased a new stake in Outset Medical during the 4th quarter worth approximately $82,000. US Bancorp DE increased its stake in Outset Medical by 286.7% during the 1st quarter. US Bancorp DE now owns 2,711 shares of the company’s stock worth $123,000 after buying an additional 2,010 shares during the period. Finally, Royal Bank of Canada grew its holdings in Outset Medical by 297.9% during the 2nd quarter. Royal Bank of Canada now owns 3,259 shares of the company’s stock worth $163,000 after acquiring an additional 2,440 shares in the last quarter.
About Outset Medical (Get Rating)
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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