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

Outset Medical, Inc. (NASDAQ:OM) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 787,800 shares, a drop of 93.0% from the February 28th total of 11,230,000 shares. Currently, 22.5% of the company’s shares are sold short. Based on an average trading volume of 85,100 shares, the days-to-cover ratio is presently 9.3 days.

Outset Medical Stock Performance

OM stock traded up $0.38 during trading on Friday, hitting $12.49. The company had a trading volume of 144,954 shares, compared to its average volume of 95,913. Outset Medical has a 1-year low of $5.85 and a 1-year high of $78.30. The firm has a 50-day moving average price of $11.33 and a 200-day moving average price of $11.86. The company has a quick ratio of 5.04, a current ratio of 6.49 and a debt-to-equity ratio of 4.12. The firm has a market cap of $44.88 million, a PE ratio of -5.03 and a beta of 2.01.

Outset Medical (NASDAQ:OM) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($6.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.30) by ($0.60). The firm had revenue of $29.47 million during the quarter, compared to analyst estimates 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 expect that Outset Medical will post -1.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price target on shares of Outset Medical in a research note on Tuesday, January 7th. Stifel Nicolaus set a $15.00 target price on Outset Medical in a research note on Friday, March 21st.

Insiders Place Their Bets

In related news, CEO Leslie Trigg sold 2,215 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $12.15, for a total transaction of $26,912.25. Following the completion of the transaction, the chief executive officer now owns 57,426 shares of the company’s stock, valued at approximately $697,725.90. This trade represents a 3.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Nabeel Ahmed sold 2,285 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $12.00, for a total value of $27,420.00. Following the completion of the sale, the chief financial officer now directly owns 17,257 shares in the company, valued at approximately $207,084. The trade was a 11.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,511 shares of company stock valued at $244,623 over the last quarter. 4.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Outset Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI lifted 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 buying an additional 23,164 shares during the period. Two Sigma Investments LP lifted its holdings 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 acquiring an additional 129,334 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Outset Medical during the 4th quarter worth $174,000. Two Sigma Securities LLC grew its stake in shares of Outset Medical by 190.0% during the 4th quarter. Two Sigma Securities LLC now owns 42,477 shares of the company’s stock worth $47,000 after purchasing an additional 27,830 shares during the period. Finally, Renaissance Technologies LLC increased 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 valued at $762,000 after purchasing an additional 632,574 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.