Outset Medical (NASDAQ:OM) Stock Falls 3% – Should You Sell?

Outset Medical, Inc. (NASDAQ:OM) traded down 3% during trading on Monday. The company traded as low as $2.84 and last traded at $2.96. Approximately 186,333 shares changed hands during mid-day trading, an increase of 41% from the average daily volume of 132,195 shares. The stock had previously closed at $3.05.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OM. Wall Street Zen upgraded Outset Medical from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings downgraded shares of Outset Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $10.00.

Outset Medical Stock Down 0.2%

The company has a quick ratio of 4.11, a current ratio of 5.19 and a debt-to-equity ratio of 1.03. The stock’s 50-day simple moving average is $3.97 and its 200 day simple moving average is $4.16. The firm has a market cap of $56.86 million, a P/E ratio of -0.74 and a beta of 1.90.

Outset Medical (NASDAQ:OM) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.08). The business had revenue of $31.64 million during the quarter, compared to the consensus estimate of $28.97 million. Outset Medical had a negative return on equity of 61.67% and a negative net margin of 63.06%. As a group, research analysts forecast that Outset Medical, Inc. will post -3.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Outset Medical

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BML Capital Management LLC boosted its position in shares of Outset Medical by 250.2% during the 1st quarter. BML Capital Management LLC now owns 1,902,201 shares of the company’s stock worth $7,304,000 after purchasing an additional 1,359,021 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Outset Medical by 391.3% during the first quarter. Renaissance Technologies LLC now owns 222,075 shares of the company’s stock valued at $853,000 after acquiring an additional 176,870 shares in the last quarter. Marquette Asset Management LLC acquired a new position in shares of Outset Medical during the second quarter worth approximately $212,000. Aristides Capital LLC acquired a new position in shares of Outset Medical during the fourth quarter worth approximately $177,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Outset Medical in the 2nd quarter worth $121,000.

About Outset Medical

Outset Medical, Inc is a medical technology company focused on simplifying hemodialysis for patients and healthcare providers. The company’s principal product is the Tablo Hemodialysis System, an integrated dialysis platform designed to combine water purification, dialysate production, treatment monitoring and data connectivity in a single device.

Tablo is intended for use in hospitals, outpatient clinics and other care settings, and has also been cleared for home hemodialysis in the United States.