Tower Research Capital LLC TRC Sells 5,489 Shares of Outset Medical, Inc. (NASDAQ:OM)

Tower Research Capital LLC TRC reduced its stake in Outset Medical, Inc. (NASDAQ:OM) by 32.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,442 shares of the company’s stock after selling 5,489 shares during the period. Tower Research Capital LLC TRC’s holdings in Outset Medical were worth $62,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of OM. Point72 Hong Kong Ltd bought a new stake in shares of Outset Medical in the 2nd quarter worth about $27,000. State of Wyoming bought a new stake in shares of Outset Medical in the 2nd quarter worth about $34,000. Nisa Investment Advisors LLC increased its holdings in shares of Outset Medical by 1,317.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 8,790 shares of the company’s stock worth $48,000 after buying an additional 8,170 shares during the last quarter. RPO LLC bought a new stake in shares of Outset Medical in the 4th quarter worth about $76,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Outset Medical during the 4th quarter worth about $90,000.

Insider Buying and Selling

In other Outset Medical news, SVP Marc Nash sold 678 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $429.00, for a total transaction of $290,862.00. Following the transaction, the senior vice president now owns 243,717 shares in the company, valued at approximately $104,554,593. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Marc Nash sold 678 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $429.00, for a total value of $290,862.00. Following the sale, the senior vice president now directly owns 243,717 shares of the company’s stock, valued at approximately $104,554,593. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Leslie Trigg sold 8,126 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $4.29, for a total transaction of $34,860.54. Following the completion of the sale, the chief executive officer now directly owns 838,411 shares in the company, valued at $3,596,783.19. The disclosure for this sale can be found here. Insiders sold a total of 34,167 shares of company stock worth $416,371 in the last 90 days. 4.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OM. Royal Bank of Canada cut shares of Outset Medical from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $14.00 to $6.00 in a research note on Friday, January 12th. CL King upgraded shares of Outset Medical from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a report on Friday, April 5th. Finally, BTIG Research assumed coverage on shares of Outset Medical in a report on Monday, April 8th. They issued a “buy” rating and a $6.00 price target for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.42.

Outset Medical Stock Down 0.5 %

Shares of NASDAQ OM traded down $0.01 during trading hours on Monday, hitting $2.04. 1,088,038 shares of the stock were exchanged, compared to its average volume of 1,064,244. The company has a quick ratio of 4.37, a current ratio of 5.26 and a debt-to-equity ratio of 1.06. The company has a market cap of $105.47 million, a PE ratio of -0.58 and a beta of 1.99. The firm has a fifty day moving average price of $2.72 and a 200-day moving average price of $4.28. Outset Medical, Inc. has a 12 month low of $1.92 and a 12 month high of $24.13.

Outset Medical (NASDAQ:OM) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.03). The firm had revenue of $30.51 million for the quarter, compared to the consensus estimate of $30.40 million. Outset Medical had a negative return on equity of 102.50% and a negative net margin of 132.54%. On average, sell-side analysts expect that Outset Medical, Inc. will post -2.28 EPS for the current year.

About Outset Medical

Outset Medical, Inc, a medical technology company, engages in the development of a hemodialysis system for hemodialysis in the United States. The company offers Tablo Hemodialysis System, a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings; and manufactures, supports, and distributes for Tablo console, Tablo cartridge, and other consumables.