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Outset Medical Inc. (OM) Analysis & Opinions from Experts

Outset Medical Inc. (NASDAQ: OM) is 3.08% higher on its value in year-to-date trading and has touched a low of $42.50 and a high of $66.96 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The OM stock was last observed hovering at around $57.73 in the last trading session, with the day’s gains setting it 0.86% off its average median price target of $64.00 for the next 12 months. It is also 11.23% off the consensus price target high of $66.00 offered by 7 analysts, but current levels are -1.02% lower than the price target low of $58.00 for the same period.

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Currently trading at $58.59, the stock is 5.59% and 11.55% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.42 million and changing 1.49% at the moment leaves the stock 12.31% off its SMA200. OM registered a gain of 22.29% in past 6-months. The firm has a 50-day simple moving average (SMA 50) of $53.52 and a 200-day simple moving average (SMA200) of $52.35.

The stock witnessed a 17.44% loss in the last 1 month and extending the period to 3 months gives it a 15.93%, and is 6.33% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.77% over the week and 5.55% over the month.

Outset Medical Inc. (OM) has around 313 employees, a market worth around $2.69B and $49.90M in sales. Distance from 52-week low is 37.86% and -12.50% from its 52-week high. The company has generated returns on investments over the last 12 months (-33.20%).

Outset Medical Inc. (OM) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Outset Medical Inc. (OM) is a “Overweight”. 7 analysts offering their recommendations for the stock have an average rating of 1.80, where 2 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Outset Medical Inc. is expected to release its quarterly report on 09/01/2021 and quarterly earnings per share for the current quarter are estimated at -$0.8 with sales reaching $21.45M over the same period.The EPS is expected to shrink by -16.10% this year, but quarterly earnings will post 85.40% year-over-year.

Outset Medical Inc. (OM) Top Institutional Holders

155 institutions hold shares in Outset Medical Inc. (OM), with 231.15k shares held by insiders accounting for 0.54% while institutional investors hold 89.59% of the company’s shares. The shares outstanding are 40.99M, and float is at 30.20M with Short Float at 6.95%. Institutions hold 89.11% of the Float.

The top institutional shareholder in the company is FMR, LLC with over 6.41 million shares valued at $364.07 million. The investor’s holdings represent 14.90% of the OM Shares outstanding. As of Dec 30, 2020, the second largest holder is Warburg Pincus LLC with 4.73 million shares valued at $268.98 million to account for 11.01% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 4.66 million shares representing 10.84% and valued at over $264.78 million, while D1 Capital Partners, LP holds 10.65% of the shares totaling 4.58 million with a market value of $260.09 million.

Outset Medical Inc. (OM) Insider Activity

A total of 39 insider transactions have happened at Outset Medical Inc. (OM) in the last six months, with sales accounting for 23 and purchases happening 16 times. The most recent transaction is an insider sale by Chambers Rebecca, the company’s Chief Financial Officer. SEC filings show that Chambers Rebecca sold 16,727 shares of the company’s common stock on Apr 27 at a price of $56.60 per share for a total of $0.95 million. Following the sale, the insider now owns 13597.0 shares.

Outset Medical Inc. disclosed in a document filed with the SEC on Apr 15 that Brottem John L. (General Counsel) sold a total of 3,500 shares of the company’s common stock. The trade occurred on Apr 15 and was made at $54.17 per share for $0.19 million. Following the transaction, the insider now directly holds 14672.0 shares of the OM stock.

Still, SEC filings show that on Apr 13, WARBURG PINCUS LLC (10% Owner) disposed off 3,890,723 shares at an average price of $50.83 for $197.75 million. The insider now directly holds 26,086 shares of Outset Medical Inc. (OM).

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