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

Outset Medical, Inc. (NASDAQ:OM) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 3,470,000 shares, a decline of 21.0% from the September 15th total of 4,390,000 shares. Based on an average daily trading volume, of 1,860,000 shares, the days-to-cover ratio is currently 1.9 days.

Analyst Upgrades and Downgrades

Several research firms recently commented on OM. TD Cowen lowered their target price on Outset Medical from $9.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada lowered Outset Medical from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $6.00 to $3.00 in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.64.

Outset Medical Stock Down 0.8 %

Shares of NASDAQ OM traded down $0.01 during mid-day trading on Friday, reaching $0.60. The company had a trading volume of 487,755 shares, compared to its average volume of 1,406,259. The stock has a market capitalization of $31.27 million, a PE ratio of -0.18 and a beta of 1.94. Outset Medical has a twelve month low of $0.44 and a twelve month high of $7.61. The company has a debt-to-equity ratio of 2.87, a quick ratio of 5.38 and a current ratio of 6.80. The stock’s 50 day moving average is $0.79 and its 200-day moving average is $2.49.

Outset Medical (NASDAQ:OM) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.07). Outset Medical had a negative return on equity of 143.52% and a negative net margin of 136.72%. The firm had revenue of $27.39 million during the quarter, compared to analyst estimates of $31.19 million. During the same quarter in the previous year, the firm posted ($0.90) earnings per share. As a group, equities analysts anticipate that Outset Medical will post -2.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Outset Medical

Several large investors have recently bought and sold shares of OM. State Board of Administration of Florida Retirement System increased its position in shares of Outset Medical by 33.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 18,842 shares of the company’s stock valued at $42,000 after purchasing an additional 4,720 shares during the period. Griffin Asset Management Inc. increased its holdings in Outset Medical by 5.7% in the 1st quarter. Griffin Asset Management Inc. now owns 97,914 shares of the company’s stock valued at $217,000 after buying an additional 5,300 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in shares of Outset Medical during the 2nd quarter worth about $49,000. Ground Swell Capital LLC acquired a new stake in shares of Outset Medical during the 2nd quarter valued at about $49,000. Finally, GSA Capital Partners LLP boosted its position in shares of Outset Medical by 5.1% during the 1st quarter. GSA Capital Partners LLP now owns 540,571 shares of the company’s stock valued at $1,200,000 after acquiring an additional 26,254 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.