Outset Medical (NASDAQ:OM – Get Rating) had its target price reduced by Morgan Stanley from $22.00 to $19.00 in a research report issued on Tuesday, Stock Target Advisor reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 26.25% from the company’s current price.
A number of other brokerages have also weighed in on OM. The Goldman Sachs Group decreased their target price on Outset Medical from $48.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. Cowen decreased their target price on Outset Medical from $60.00 to $33.00 and set an “outperform” rating for the company in a research report on Tuesday, June 14th. Stifel Nicolaus decreased their target price on Outset Medical from $30.00 to $24.00 in a research report on Monday, July 18th. Finally, Cowen cut their price target on Outset Medical from $60.00 to $33.00 in a report on Tuesday, June 14th.
Outset Medical Trading Up 4.2 %
Shares of NASDAQ:OM traded up $0.61 during trading on Tuesday, hitting $15.05. The company had a trading volume of 6,228 shares, compared to its average volume of 451,609. The stock has a market cap of $722.55 million, a price-to-earnings ratio of -4.67 and a beta of 1.72. Outset Medical has a one year low of $13.25 and a one year high of $60.33. The company has a fifty day simple moving average of $18.01 and a two-hundred day simple moving average of $23.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.26 and a quick ratio of 5.29.
Outset Medical (NASDAQ:OM – Get Rating) last issued its quarterly earnings results on Monday, August 1st. The company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.17). Outset Medical had a negative return on equity of 42.37% and a negative net margin of 138.48%. The business had revenue of $25.06 million for the quarter, compared to the consensus estimate of $25.67 million. As a group, equities analysts forecast that Outset Medical will post -3.32 earnings per share for the current year.
Insider Buying and Selling
In other Outset Medical news, CEO Leslie Trigg sold 30,000 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $20.00, for a total transaction of $600,000.00. Following the sale, the chief executive officer now owns 292,073 shares in the company, valued at approximately $5,841,460. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Outset Medical news, CEO Leslie Trigg sold 30,000 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $20.00, for a total transaction of $600,000.00. Following the sale, the chief executive officer now owns 292,073 shares in the company, valued at approximately $5,841,460. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Martin Vazquez sold 10,000 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the sale, the chief operating officer now owns 49,237 shares in the company, valued at approximately $984,740. The disclosure for this sale can be found here. Insiders have sold a total of 42,831 shares of company stock worth $856,938 in the last ninety days. 4.00% of the stock is owned by insiders.
Hedge Funds Weigh In On Outset Medical
Several institutional investors and hedge funds have recently modified their holdings of OM. Assetmark Inc. raised its holdings in Outset Medical by 387.1% in the 2nd quarter. Assetmark Inc. now owns 1,812 shares of the company’s stock worth $27,000 after purchasing an additional 1,440 shares during the period. Point72 Hong Kong Ltd acquired a new position in Outset Medical in the 2nd quarter worth about $27,000. Nisa Investment Advisors LLC raised its holdings in Outset Medical by 139.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,060 shares of the company’s stock worth $31,000 after purchasing an additional 1,200 shares during the period. US Bancorp DE raised its holdings in Outset Medical by 286.7% in the 1st quarter. US Bancorp DE now owns 2,711 shares of the company’s stock worth $123,000 after purchasing an additional 2,010 shares during the period. Finally, Quantbot Technologies LP raised its holdings in Outset Medical by 48.6% in the 2nd quarter. Quantbot Technologies LP now owns 9,779 shares of the company’s stock worth $145,000 after purchasing an additional 3,197 shares during the period.
About Outset Medical
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.
Further Reading
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