Outset Medical (NASDAQ:OM) Trading Down 12.7% - Time to Sell?

Shares of Outset Medical, Inc. (NASDAQ:OM - Get Free Report) dropped 12.7% on Friday . The stock traded as low as $9.30 and last traded at $9.85. Approximately 31,173 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 88,113 shares. The stock had previously closed at $11.28.

Analyst Ratings Changes

Separately, Royal Bank of Canada reaffirmed 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 Performance

The company has a market capitalization of $37.71 million, a price-to-earnings ratio of -4.23 and a beta of 2.01. The company has a current ratio of 6.49, a quick ratio of 5.04 and a debt-to-equity ratio of 4.12. The stock has a 50-day simple moving average of $11.35 and a 200-day simple moving average of $11.84.

Outset Medical (NASDAQ:OM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($6.90) EPS for the quarter, missing analysts' consensus estimates of ($6.30) by ($0.60). The company had revenue of $29.47 million for the quarter, compared to the consensus estimate of $28.47 million. Outset Medical had a negative net margin of 112.57% and a negative return on equity of 175.64%. On average, analysts anticipate that Outset Medical, Inc. will post -1.99 earnings per share for the current year.

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Insider Buying and Selling

In other Outset Medical news, CEO Leslie Trigg sold 4,349 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total transaction of $52,188.00. Following the completion of the sale, the chief executive officer now owns 59,705 shares in the company, valued at $716,460. The trade was a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Nabeel Ahmed sold 2,285 shares of the firm'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 $27,420.00. Following the completion of the transaction, the chief financial officer now owns 17,257 shares in the company, valued at approximately $207,084. The trade was a 11.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,511 shares of company stock worth $244,623. Corporate insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Outset Medical

Several institutional investors have recently made changes to their positions in OM. Renaissance Technologies LLC lifted its holdings in shares of Outset Medical by 1,167.7% in the 4th quarter. Renaissance Technologies LLC now owns 686,748 shares of the company's stock worth $762,000 after purchasing an additional 632,574 shares during the last quarter. Two Sigma Investments LP lifted its stake in Outset Medical by 36.0% in the fourth quarter. Two Sigma Investments LP now owns 488,602 shares of the company's stock valued at $542,000 after buying an additional 129,334 shares during the last quarter. Birchview Capital LP grew its position in shares of Outset Medical by 3,587.7% during the fourth quarter. Birchview Capital LP now owns 368,766 shares of the company's stock worth $409,000 after acquiring an additional 358,766 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Outset Medical in the 4th quarter worth about $174,000. Finally, National Bank of Canada FI increased its holdings 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 worth $35,000 after acquiring an additional 23,164 shares during the period.

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.