Outset Medical, Inc. (NASDAQ:OM) Short Interest Update

Outset Medical, Inc. (NASDAQ:OM) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 787,800 shares, a drop of 93.0% from the February 28th total of 11,230,000 shares. Based on an average daily trading volume, of 85,100 shares, the days-to-cover ratio is currently 9.3 days. Currently, 22.5% of the shares of the stock are short sold.

Insider Activity at Outset Medical

In other Outset Medical news, CEO Leslie Trigg sold 4,349 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $12.00, for a total transaction of $52,188.00. Following the completion of the sale, the chief executive officer now directly owns 59,705 shares in the company, valued at approximately $716,460. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Nabeel Ahmed sold 2,285 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 17,257 shares of the company’s stock, valued at $207,084. This trade represents a 11.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,511 shares of company stock valued at $244,623 over the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Outset Medical

Several institutional investors and hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC acquired a new position in shares of Outset Medical in the 4th quarter worth approximately $174,000. Two Sigma Investments LP increased its position in Outset Medical by 36.0% in 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 period. Birchview Capital LP raised its holdings in Outset Medical by 3,587.7% during the 4th 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. Two Sigma Securities LLC grew its position in shares of Outset Medical by 190.0% during the 4th quarter. Two Sigma Securities LLC now owns 42,477 shares of the company’s stock worth $47,000 after buying an additional 27,830 shares during the period. Finally, XTX Topco Ltd acquired a new position in Outset Medical in the fourth quarter valued at approximately $50,000.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reaffirmed 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 Stock Performance

NASDAQ:OM traded down $0.42 during trading hours on Wednesday, hitting $11.25. 183,349 shares of the company traded hands, compared to its average volume of 89,903. The company has a current ratio of 6.49, a quick ratio of 5.04 and a debt-to-equity ratio of 4.12. Outset Medical has a twelve month low of $5.85 and a twelve month high of $78.30. The firm has a 50-day moving average of $11.34 and a 200 day moving average of $11.87. The stock has a market capitalization of $40.44 million, a price-to-earnings ratio of -4.54 and a beta of 2.01.

Outset Medical (NASDAQ:OM) last posted its earnings results on Wednesday, February 19th. The company reported ($6.90) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $28.47 million. On average, analysts forecast that Outset Medical will post -1.99 EPS for the current year.

About Outset Medical

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.