Outset Medical Inc. [NASDAQ: OM] plunged by -$2.54 during the normal trading session on Thursday and reaching a high of $54.23 during the day while it closed the day at $52.40. The company report on December 3, 2020 that Outset Medical Announces Pricing of Secondary Public Offering.
Outset Medical, Inc. (Nasdaq: OM) (“Outset”), a medical technology company pioneering a first-of-its-kind technology to reduce the cost and complexity of dialysis, announced the pricing of an underwritten public offering of 4,000,000 shares of its common stock by certain of its stockholders at a public offering price of $53.00 per share. In addition, such selling stockholders granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of its common stock at the public offering price, less the underwriting discounts and commissions. The underwriting discounts and commissions will be borne by the selling stockholders. Outset is not selling any shares and will not receive any of the proceeds from the sale of the shares of common stock being offered by the selling stockholders. The offering is expected to close on December 7, 2020, subject to the satisfaction of customary closing conditions.
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BofA Securities, Morgan Stanley and Goldman Sachs & Co. LLC are acting as joint lead book-running managers for the offering. SVB Leerink and Stifel are acting as co-managers for the offering.
The market cap for OM stock reached $2.12 billion, with 40.99 million shares outstanding and 20.57 million shares in the current float. Compared to the average trading volume of 378.14K shares, OM reached a trading volume of 1667062 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Outset Medical Inc. [OM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OM shares is $55.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OM stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
SVB Leerink have made an estimate for Outset Medical Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on October 12, 2020. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on October 12, 2020, representing the official price target for Outset Medical Inc. stock. Previously, the target price had yet another raise to $48, while Morgan Stanley analysts kept a Equal-Weight rating on OM stock.
The Average True Range (ATR) for Outset Medical Inc. is set at 4.67, with the Price to Sales ratio for OM stock in the period of the last 12 months amounting to 53.20. The Price to Book ratio for the last quarter was 6.06, with the Price to Cash per share for the same quarter was set at 8.52.
OM stock trade performance evaluation
Outset Medical Inc. [OM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.23.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OM stock in for the last two-week period is set at 46.59, with the RSI for the last a single of trading hit 39.46, and the three-weeks RSI is set at 46.33 for Outset Medical Inc. [OM]. The present Moving Average for the last 50 days of trading for this stock 50.65, while it was recorded at 58.58 for the last single week of trading.
Outset Medical Inc. [OM]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Outset Medical Inc. [OM] shares currently have an operating margin of -466.29 and a Gross Margin at -118.07. Outset Medical Inc.’s Net Margin is presently recorded at +326.95.
Return on Total Capital for OM is now -70.47, given the latest momentum, and Return on Invested Capital for the company is 51.48. Return on Equity for this stock inclined to 69.63, with Return on Assets sitting at 41.17. When it comes to the capital structure of this company, Outset Medical Inc. [OM] has a Total Debt to Total Equity ratio set at 78.02. Additionally, OM Total Debt to Total Capital is recorded at 43.83, with Total Debt to Total Assets ending up at 32.90.
Receivables Turnover for the company is 6.03 with a Total Asset Turnover recorded at a value of 0.13.Outset Medical Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.80 and a Current Ratio set at 11.10.
Outset Medical Inc. [OM]: Insider Ownership positions
There are presently around $1,893 million, or 91.60% of OM stock, in the hands of institutional investors. The top three institutional holders of OM stocks are: WARBURG PINCUS LLC with ownership of 8,971,363, which is approximately New of the company’s market cap and around 0.50% of the total institutional ownership; FMR LLC, holding 6,349,244 shares of the stock with an approximate value of $332.7 million in OM stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $239.96 million in OM stock with ownership of nearly New of the company’s market capitalization.
Positions in Outset Medical Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 82 institutional holders increased their position in Outset Medical Inc. [NASDAQ:OM] by around 36,128,470 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 36,128,470 shares, according to the latest SEC report filing. OM stock had 82 new institutional investments in for a total of 36,128,470 shares, while 0 institutional investors sold positions of 0 shares during the same period.