Outset Medical (NASDAQ:OM) Issues Earnings Results

Outset Medical (NASDAQ:OM) released its earnings results on Monday. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.34), Zacks reports. The company had revenue of $29.43 million during the quarter, compared to analysts’ expectations of $30.69 million. Outset Medical had a negative return on equity of 75.10% and a negative net margin of 73.12%. Outset Medical updated its FY 2025 guidance to EPS.

Outset Medical Trading Down 1.0%

NASDAQ:OM traded down $0.07 during mid-day trading on Wednesday, hitting $6.16. 143,427 shares of the stock traded hands, compared to its average volume of 246,087. The company has a quick ratio of 6.05, a current ratio of 7.47 and a debt-to-equity ratio of 0.63. Outset Medical has a 52 week low of $5.60 and a 52 week high of $25.35. The stock has a market capitalization of $109.37 million, a price-to-earnings ratio of -0.47 and a beta of 2.14. The firm’s 50 day moving average is $13.79 and its two-hundred day moving average is $15.86.

Analyst Ratings Changes

Several research analysts have commented on OM shares. Royal Bank Of Canada dropped their price objective on shares of Outset Medical from $22.00 to $17.00 and set a “sector perform” rating for the company in a report on Tuesday. Stifel Nicolaus set a $14.00 price target on shares of Outset Medical and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Outset Medical in a report on Wednesday, October 8th. Finally, BTIG Research decreased their target price on shares of Outset Medical from $39.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Balyasny Asset Management L.P. bought a new stake in shares of Outset Medical during the 2nd quarter worth approximately $2,750,000. Bank of America Corp DE increased its stake in Outset Medical by 37,130.1% in the second quarter. Bank of America Corp DE now owns 135,890 shares of the company’s stock worth $2,610,000 after purchasing an additional 135,525 shares during the period. JPMorgan Chase & Co. increased its stake in Outset Medical by 1,276.1% in the third quarter. JPMorgan Chase & Co. now owns 116,306 shares of the company’s stock worth $1,642,000 after purchasing an additional 107,854 shares during the period. Rhumbline Advisers bought a new stake in shares of Outset Medical during the second quarter worth $499,000. Finally, Massar Capital Management LP purchased a new stake in shares of Outset Medical during the second quarter valued at $384,000.

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.