Outset Medical Inc [NASDAQ: OM] gained 3.57% or 0.1 points to close at $2.90 with a heavy trading volume of 7036338 shares. The company report on February 26, 2024 at 9:00 AM that Outset Medical to Present at the 44th Annual TD Cowen Health Care Conference.
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, today announced that members of management will present at the 44th annual TD Cowen Health Care conference on Tuesday, March 5, 2024, at 1:30 p.m. Eastern time.
A live and archived webcast of the presentation will be available on the “Investors” section of the Outset website at https://investors.outsetmedical.com/.
The daily chart for OM points out that the company has recorded -78.39% loss over the past six months.
If we look at the average trading volume of 892.96K shares, OM reached to a volume of 7036338 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $5.70 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 2.57. 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.
RBC Capital Mkts have made an estimate for Outset Medical Inc shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on January 12, 2024. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $32 to $3. The new note on the price target was released on October 13, 2023, representing the official price target for Outset Medical Inc stock.
The Average True Range (ATR) for Outset Medical Inc is set at 0.35, with the Price to Sales ratio for OM stock in the period of the last 12 months amounting to 1.12. The Price to Book ratio for the last quarter was 1.19, with the Price to Cash per share for the same quarter was set at 4.03.
Trading performance analysis for OM stock
Outset Medical Inc [OM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.94. With this latest performance, OM shares dropped by -10.22% in over the last four-week period, additionally sinking by -78.39% over the last 6 months – not to mention a drop of -87.21% in the past year of trading.
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 37.65, with the RSI for the last a single of trading hit 35.84, and the three-weeks RSI is set at 38.26 for Outset Medical Inc [OM]. The present Moving Average for the last 50 days of trading for this stock 3.88, while it was recorded at 2.95 for the last single week of trading, and 10.60 for the last 200 days.
Outset Medical Inc [OM]: A deeper dive into fundamental analysis
Outset Medical Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.37 and a Current Ratio set at 5.26.
Outset Medical Inc [OM]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Outset Medical Inc posted -0.72/share EPS, while the average EPS was predicted by analysts to be reported at -0.74/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OM.
An analysis of Institutional ownership at Outset Medical Inc [OM]
The top three institutional holders of OM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in OM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in OM stock with ownership which is approximately 5.8325%.
