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

Outset Medical, Inc. (NASDAQ:OM) gapped down prior to trading on Thursday . The stock had previously closed at $8.28, but opened at $7.85. Outset Medical shares last traded at $10.40, with a volume of 76,206 shares traded.

Wall Street Analysts Forecast Growth

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

Outset Medical Stock Up 28.3 %

The company has a fifty day simple moving average of $0.77 and a two-hundred day simple moving average of $0.78. The firm has a market capitalization of $572.17 million, a PE ratio of -4.29 and a beta of 2.01. The company has a debt-to-equity ratio of 4.12, a quick ratio of 5.04 and a current ratio of 6.49.

Outset Medical (NASDAQ:OM) last announced its earnings results on Wednesday, February 19th. The company reported ($6.90) earnings per share (EPS) 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 company had revenue of $29.47 million for the quarter, compared to the consensus estimate of $28.47 million. Analysts forecast that Outset Medical, Inc. will post -1.99 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel John L. Brottem sold 2,195 shares of the company’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 $26,340.00. Following the transaction, the general counsel now directly owns 12,079 shares of the company’s stock, valued at $144,948. This represents a 15.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Leslie Trigg sold 2,215 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was 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 directly owns 57,426 shares of the company’s stock, valued at approximately $697,725.90. This represents a 3.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,511 shares of company stock worth $244,623 in the last 90 days. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Outset Medical

Several hedge funds have recently made changes to their positions in OM. Huntington National Bank lifted its stake in Outset Medical by 46.2% during 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. National Bank of Canada FI increased its stake 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 purchasing an additional 23,164 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Outset Medical by 1,167.7% during the 4th quarter. Renaissance Technologies LLC now owns 686,748 shares of the company’s stock worth $762,000 after buying an additional 632,574 shares during the period. XTX Topco Ltd purchased a new position in shares of Outset Medical during the 4th quarter valued at approximately $50,000. Finally, Two Sigma Securities LLC lifted 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 valued at $47,000 after buying an additional 27,830 shares in the last quarter.

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.