Outset Medical (NASDAQ:OM) Shares Down 0.2% – Time to Sell?

Outset Medical, Inc. (NASDAQ:OM)’s share price traded down 0.2% during trading on Wednesday . The company traded as low as $0.56 and last traded at $0.58. 648,243 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 1,264,835 shares. The stock had previously closed at $0.58.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 target price on shares of Outset Medical in a research report on Tuesday, January 7th.

Outset Medical Price Performance

The company has a debt-to-equity ratio of 4.12, a quick ratio of 5.04 and a current ratio of 6.49. The company has a market capitalization of $31.19 million, a P/E ratio of -0.23 and a beta of 2.01. The firm’s fifty day moving average is $0.83 and its 200 day moving average is $0.78.

Outset Medical (NASDAQ:OM) last issued its quarterly earnings results on Wednesday, February 19th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.04). Outset Medical had a negative return on equity of 175.64% and a negative net margin of 112.57%. The business had revenue of $29.47 million during the quarter, compared to analysts’ expectations of $28.47 million. As a group, analysts predict that Outset Medical, Inc. will post -1.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel John L. Brottem sold 32,930 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $0.80, for a total value of $26,344.00. Following the transaction, the general counsel now owns 181,188 shares of the company’s stock, valued at $144,950.40. This represents a 15.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Nabeel Ahmed sold 34,288 shares of Outset Medical stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $0.80, for a total value of $27,430.40. Following the sale, the chief financial officer now directly owns 258,869 shares of the company’s stock, valued at approximately $207,095.20. This trade represents a 11.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 292,750 shares of company stock worth $244,707 over the last quarter. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Outset Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Two Sigma Securities LLC lifted its position in shares of Outset Medical by 190.0% in the 4th quarter. Two Sigma Securities LLC now owns 42,477 shares of the company’s stock worth $47,000 after purchasing an additional 27,830 shares during the period. XTX Topco Ltd bought a new stake in Outset Medical during the 4th quarter valued at $50,000. National Bank of Canada FI increased its holdings in shares of Outset Medical by 79.2% in the 3rd quarter. National Bank of Canada FI now owns 52,407 shares of the company’s stock valued at $35,000 after acquiring an additional 23,164 shares during the period. Huntington National Bank increased its holdings in shares of Outset Medical by 46.2% in the 3rd quarter. Huntington National Bank now owns 63,306 shares of the company’s stock valued at $43,000 after acquiring an additional 20,000 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of Outset Medical during the 4th quarter worth $174,000.

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.