An Important Check-Up On Outset Medical Inc (NASDAQ: OM)

Outset Medical Inc (OM) concluded trading on Thursday at a closing price of $2.22, with 0.49 million shares of worth about $1.08 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -79.84% during that period and on March 28, 2024 the price saw a gain of about 0.91%. Currently the company’s common shares owned by public are about 50.32M shares, out of which, 46.36M shares are available for trading.

Stock saw a price change of 6.22% in past 5 days and over the past one month there was a price change of -36.02%. Year-to-date (YTD), OM shares are showing a performance of -58.96% which decreased to -88.15% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.98 but also hit the highest price of $24.13 during that period. The average intraday trading volume for Outset Medical Inc shares is 1.04 million. The stock is currently trading -10.69% below its 20-day simple moving average (SMA20), while that difference is down -27.05% for SMA50 and it goes to -75.96% lower than SMA200.

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Outset Medical Inc (NASDAQ: OM) currently have 50.32M outstanding shares and institutions hold larger chunk of about 105.24% of that.

The stock has a current market capitalization of $112.13M and its 3Y-monthly beta is at 1.98. It has posted earnings per share of -$3.49 in the same period. It has Quick Ratio of 4.37 while making debt-to-equity ratio of 1.11. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for OM, volatility over the week remained 7.42% while standing at 10.28% over the month.

Analysts are in expectations that Outset Medical Inc (OM) stock would likely to be making an EPS of -$0.54 in the current quarter, while forecast for next quarter EPS is -$0.53 and it is -$1.8 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.62 which is -$0.44 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.72 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 23.17% while it is estimated to increase by 13.30% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by RBC Capital Mkts on January 12, 2024 offering a Sector perform rating for the stock and assigned a target price range of between $14 and $6 to it. Coverage by BofA Securities stated Outset Medical Inc (OM) stock as an Underperform in their note to investors on October 13, 2023, suggesting a price target of $3 for the stock. On August 17, 2023, CL King Initiated their recommendations, while on November 11, 2022, RBC Capital Mkts Initiated their ratings for the stock with a price target of $23. Stock get an Equal-weight rating from Morgan Stanley on July 14, 2022.

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