Outset Medical (NASDAQ:OM) Trading Down 12.7% – Time to Sell?

Outset Medical, Inc. (NASDAQ:OM) traded down 12.7% on Friday . The company traded as low as $9.30 and last traded at $9.85. 31,173 shares were traded during mid-day trading, a decline of 65% from the average session volume of 88,113 shares. The stock had previously closed at $11.28.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price target on shares of Outset Medical in a research report on Tuesday, January 7th.

Outset Medical Price Performance

The stock’s 50-day moving average price is $11.38 and its 200-day moving average price is $11.79. The company has a market capitalization of $541.66 million, a price-to-earnings ratio of -4.05 and a beta of 2.01. The company has a quick ratio of 5.04, a current ratio of 6.49 and a debt-to-equity ratio of 4.12.

Outset Medical (NASDAQ:OM) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($6.90) earnings per share for the quarter, missing the consensus estimate of ($6.30) by ($0.60). Outset Medical had a negative net margin of 112.57% and a negative return on equity of 175.64%. The business had revenue of $29.47 million during the quarter, compared to analyst estimates of $28.47 million. Equities research analysts anticipate that Outset Medical, Inc. will post -1.99 earnings per share for the current year.

Insider Buying and Selling at Outset Medical

In other Outset Medical news, CEO Leslie Trigg sold 2,215 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $12.15, for a total value of $26,912.25. Following the completion of the sale, the chief executive officer now owns 57,426 shares of the company’s stock, valued at approximately $697,725.90. This represents a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Nabeel Ahmed sold 2,285 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $12.00, for a total transaction of $27,420.00. Following the sale, the chief financial officer now directly owns 17,257 shares of the company’s stock, valued at $207,084. This represents a 11.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,511 shares of company stock valued at $244,623. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Outset Medical

Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its holdings in Outset Medical by 1,167.7% during the fourth quarter. Renaissance Technologies LLC now owns 686,748 shares of the company’s stock worth $762,000 after purchasing an additional 632,574 shares during the last quarter. Two Sigma Investments LP boosted its holdings in Outset Medical by 36.0% during the fourth quarter. Two Sigma Investments LP now owns 488,602 shares of the company’s stock worth $542,000 after purchasing an additional 129,334 shares during the last quarter. Birchview Capital LP boosted its holdings in Outset Medical by 3,587.7% during the fourth quarter. Birchview Capital LP now owns 368,766 shares of the company’s stock worth $409,000 after purchasing an additional 358,766 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Outset Medical during the fourth quarter worth $174,000. Finally, National Bank of Canada FI boosted its holdings in Outset Medical by 79.2% during the third quarter. National Bank of Canada FI now owns 52,407 shares of the company’s stock worth $35,000 after purchasing an additional 23,164 shares during the last quarter.

Outset Medical Company Profile

Outset Medical, Inc, a medical technology company, engages in the development of a hemodialysis system for hemodialysis in the United States. The company offers Tablo Hemodialysis System, a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings; and manufactures, supports, and distributes for Tablo console, Tablo cartridge, and other consumables.