Zacks: Brokerages Anticipate Outset Medical, Inc. (NASDAQ:OM) Will Post Earnings of -$0.70 Per Share

Wall Street brokerages expect Outset Medical, Inc. (NASDAQ:OMGet Rating) to post earnings of ($0.70) per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Outset Medical’s earnings. The highest EPS estimate is ($0.62) and the lowest is ($0.74). Outset Medical reported earnings per share of ($0.57) during the same quarter last year, which would indicate a negative year over year growth rate of 22.8%. The firm is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Outset Medical will report full-year earnings of ($2.84) per share for the current fiscal year, with EPS estimates ranging from ($2.93) to ($2.77). For the next financial year, analysts forecast that the business will report earnings of ($2.07) per share, with EPS estimates ranging from ($2.57) to ($1.39). Zacks’ EPS calculations are an average based on a survey of analysts that cover Outset Medical.

Outset Medical (NASDAQ:OMGet Rating) last announced its quarterly earnings results on Wednesday, February 16th. The company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.04). Outset Medical had a negative net margin of 125.91% and a negative return on equity of 34.27%. The firm had revenue of $28.15 million for the quarter, compared to analyst estimates of $26.55 million.

OM has been the subject of a number of analyst reports. Cowen lowered their price objective on Outset Medical from $70.00 to $60.00 in a research report on Thursday, February 17th. Bank of America initiated coverage on Outset Medical in a research report on Wednesday, March 2nd. They set a “buy” rating for the company. Morgan Stanley upgraded Outset Medical from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $55.00 to $50.00 in a research report on Thursday, February 17th. Finally, Zacks Investment Research upgraded Outset Medical from a “sell” rating to a “hold” rating in a research report on Saturday, April 16th.

Shares of OM stock traded down $0.48 during mid-day trading on Tuesday, reaching $22.58. 1,365,358 shares of the stock traded hands, compared to its average volume of 427,967. Outset Medical has a 1-year low of $21.69 and a 1-year high of $60.33. The company has a quick ratio of 7.17, a current ratio of 7.93 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -7.62 and a beta of 2.04. The stock’s fifty day simple moving average is $41.56 and its two-hundred day simple moving average is $43.42.

In other news, General Counsel John L. Brottem sold 10,002 shares of the business’s stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $35.92, for a total transaction of $359,271.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel John L. Brottem sold 1,003 shares of the business’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $43.73, for a total value of $43,861.19. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,884 shares of company stock valued at $7,338,094. 4.00% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OM. Victory Capital Management Inc. boosted its position in shares of Outset Medical by 6.3% during the third quarter. Victory Capital Management Inc. now owns 6,000 shares of the company’s stock valued at $297,000 after buying an additional 356 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Outset Medical by 7.0% during the third quarter. State Board of Administration of Florida Retirement System now owns 7,308 shares of the company’s stock valued at $361,000 after buying an additional 480 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Outset Medical by 6.9% during the first quarter. Teacher Retirement System of Texas now owns 8,287 shares of the company’s stock valued at $376,000 after buying an additional 532 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Outset Medical by 2.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 23,298 shares of the company’s stock valued at $1,089,000 after buying an additional 657 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Outset Medical by 0.8% during the third quarter. Swiss National Bank now owns 86,400 shares of the company’s stock valued at $4,272,000 after buying an additional 700 shares during the last quarter.

Outset Medical Company Profile (Get Rating)

Outset Medical, Inc, a medical technology company, develops a hemodialysis system for dialysis. It provides the Tablo Hemodialysis System, which comprises a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings.

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