Zacks: Brokerages Anticipate Outset Medical, Inc. (NASDAQ:OM) Will Announce Earnings of -$0.69 Per Share

Wall Street analysts expect that Outset Medical, Inc. (NASDAQ:OM) will announce earnings of ($0.69) per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Outset Medical’s earnings. The lowest EPS estimate is ($0.82) and the highest is ($0.54). The business is scheduled to report its next earnings results on Tuesday, June 8th.

According to Zacks, analysts expect that Outset Medical will report full-year earnings of ($2.74) per share for the current financial year, with EPS estimates ranging from ($3.21) to ($2.21). For the next financial year, analysts expect that the firm will post earnings of ($1.78) per share, with EPS estimates ranging from ($1.98) to ($1.57). Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Outset Medical.

Outset Medical (NASDAQ:OM) last announced its earnings results on Monday, March 8th. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.09). The firm had revenue of $17.25 million for the quarter, compared to analyst estimates of $13.79 million.

A number of brokerages have recently commented on OM. Morgan Stanley upped their target price on shares of Outset Medical from $52.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, March 16th. Oppenheimer initiated coverage on shares of Outset Medical in a research note on Wednesday, December 16th. They set a “market perform” rating on the stock. Finally, Zacks Investment Research upgraded shares of Outset Medical from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $58.20.

Shares of NASDAQ:OM traded down $0.05 on Wednesday, reaching $54.50. The company’s stock had a trading volume of 293,161 shares, compared to its average volume of 382,559. The stock’s 50-day moving average is $51.76 and its two-hundred day moving average is $53.98. Outset Medical has a 52-week low of $42.50 and a 52-week high of $66.96. The company has a debt-to-equity ratio of 0.08, a current ratio of 11.13 and a quick ratio of 10.77.

In other Outset Medical news, CEO Leslie Trigg sold 57,500 shares of the company’s stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $55.39, for a total transaction of $3,184,925.00. Following the transaction, the chief executive officer now directly owns 274,424 shares in the company, valued at $15,200,345.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel John L. Brottem sold 3,500 shares of the company’s stock in a transaction dated Thursday, March 18th. The stock was sold at an average price of $47.71, for a total transaction of $166,985.00. Following the transaction, the general counsel now owns 18,172 shares in the company, valued at $866,986.12. The disclosure for this sale can be found here. Insiders have sold 102,819 shares of company stock worth $5,568,597 over the last 90 days.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Outset Medical by 1.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,658,295 shares of the company’s stock valued at $254,250,000 after purchasing an additional 78,916 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Outset Medical during the third quarter valued at approximately $16,524,000. Northern Trust Corp purchased a new position in shares of Outset Medical during the fourth quarter valued at approximately $7,177,000. Vestcor Inc purchased a new position in shares of Outset Medical during the third quarter valued at approximately $50,000. Finally, Perpetual Ltd purchased a new position in shares of Outset Medical during the third quarter valued at approximately $250,000. 84.63% of the stock is currently owned by institutional investors.

About Outset Medical

Outset Medical, Inc, a medical technology company, develops a hemodialysis system for dialysis. It offers Tablo Hemodialysis System, which comprises of 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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Earnings History and Estimates for Outset Medical (NASDAQ:OM)

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