Short Interest in Outset Medical, Inc. (NASDAQ:OM) Declines By 93.0%

Outset Medical, Inc. (NASDAQ:OM) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 787,800 shares, a decrease of 93.0% from the February 28th total of 11,230,000 shares. Approximately 22.5% of the shares of the stock are short sold. Based on an average trading volume of 85,100 shares, the short-interest ratio is presently 9.3 days.

Insider Buying and Selling

In other Outset Medical news, CEO Leslie Trigg sold 4,349 shares of Outset Medical stock in a transaction dated 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 transaction, the chief executive officer now owns 59,705 shares in the company, valued at approximately $716,460. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Nabeel Ahmed sold 2,285 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total transaction of $27,420.00. Following the completion of the sale, the chief financial officer now owns 17,257 shares in the company, valued at $207,084. This represents a 11.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,511 shares of company stock worth $244,623 in the last quarter. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Outset Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Securities LLC boosted its position in shares of Outset Medical by 190.0% in the fourth quarter. Two Sigma Securities LLC now owns 42,477 shares of the company’s stock worth $47,000 after acquiring an additional 27,830 shares during the last quarter. XTX Topco Ltd purchased a new position in Outset Medical during the fourth quarter worth approximately $50,000. National Bank of Canada FI boosted 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 valued at $35,000 after purchasing an additional 23,164 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Outset Medical in the 4th quarter valued at $174,000. Finally, Birchview Capital LP grew its stake in shares of Outset Medical by 3,587.7% during the 4th quarter. Birchview Capital LP now owns 368,766 shares of the company’s stock valued at $409,000 after buying an additional 358,766 shares during the period.

Outset Medical Trading Up 3.1 %

OM stock traded up $0.38 during midday trading on Friday, hitting $12.49. The stock had a trading volume of 144,954 shares, compared to its average volume of 95,913. The company’s 50-day moving average price is $11.33 and its 200 day moving average price is $11.86. The company has a debt-to-equity ratio of 4.12, a current ratio of 6.49 and a quick ratio of 5.04. The firm has a market cap of $44.88 million, a PE ratio of -5.03 and a beta of 2.01. Outset Medical has a 12-month low of $5.85 and a 12-month high of $78.30.

Outset Medical (NASDAQ:OM) last announced 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 business had revenue of $29.47 million during the quarter, compared to analysts’ expectations 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, equities research analysts predict that Outset Medical will post -1.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OM. Stifel Nicolaus set a $15.00 price target on Outset Medical in a research report on Friday, March 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 price objective on shares of Outset Medical in a research note on Tuesday, January 7th.

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.