Outset Medical (NASDAQ:OM) Stock Price Breaks Above 200 Day Moving Average – Should You Sell?

Outset Medical, Inc. (NASDAQ:OM)’s stock price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $4.17 and traded as high as $4.35. Outset Medical shares last traded at $4.34, with a volume of 86,644 shares traded.

Wall Street Analyst Weigh In

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

Outset Medical Stock Performance

The company has a market capitalization of $78.77 million, a P/E ratio of -1.02 and a beta of 1.99. The company has a current ratio of 5.19, a quick ratio of 4.11 and a debt-to-equity ratio of 1.03. The company’s fifty day moving average is $3.74 and its 200 day moving average is $4.17.

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

Institutional Investors Weigh In On Outset Medical

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BML Capital Management LLC boosted its position in shares of Outset Medical by 250.2% in the first quarter. BML Capital Management LLC now owns 1,902,201 shares of the company’s stock valued at $7,304,000 after acquiring an additional 1,359,021 shares during the period. Renaissance Technologies LLC grew its stake in 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. Squarepoint Ops LLC bought a new stake in Outset Medical during the 2nd quarter worth approximately $98,000. Bank of New York Mellon Corp bought a new stake in Outset Medical during the 2nd quarter worth approximately $121,000. Finally, Marquette Asset Management LLC purchased a new stake in Outset Medical in the 2nd quarter worth approximately $212,000.

Outset Medical Company Profile

Outset Medical, Inc is a medical technology company that develops products for hemodialysis, a treatment that filters waste and excess fluid from the blood when the kidneys are no longer able to do so adequately. The company’s primary product is the Tablo Hemodialysis System, an integrated dialysis platform designed to simplify treatment for healthcare providers and support broader use of dialysis in hospitals, outpatient facilities and the home.

The Tablo system combines dialysis delivery, water purification and dialysate production in a single device and uses a touchscreen interface intended to guide users through treatment setup and operation.