Saturday, June 25, 2022

A company insider recently sold 30,000 shares of Outset Medical Inc. [OM]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Outset Medical Inc. shares valued at $628,401 were sold by Trigg Leslie on Jun 01. At $20.95 per share, Trigg Leslie sold 30,000 shares. The insider’s holdings dropped to 292,073 shares worth approximately $4.21 million following the completion of this transaction.

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Also, Vazquez Martin sold 5,000 shares, netting a total of over 107,082 in proceeds. Following the sale of shares at $21.42 each, the insider now holds 49,237 shares.

Before that, Vazquez Martin had sold 258 shares from its account. In a trade valued at $6,801, the Chief Operating Officer traded Outset Medical Inc. shares for $26.36 each. Upon closing the transaction, the insider’s holdings decreased to 258 shares, worth approximately $0.71 million.

As published in their initiating research note from BofA Securities on June 22, 2022, Holley Inc. [HLLY] has been a Buy and the price target has been revised to $13. This represents a 22.85% premium over Wednesday’s closing price. This represents a 71.18% premium over Wednesday’s closing price. Analysts at Morgan Stanley upgraded the stock from ‘”an Equal-weight”‘ to ‘”an Overweight”‘ outlook in a report released in mid February. As of August 18, 2021, Cowen has initiated its “an Outperform” rating for OM. Earlier on April 19, 2021, Wells Fargo initiated its rating. Their recommendation was “an Overweight” for OM stock.

Analyzing OM’s Price Performance

On Wednesday, Outset Medical Inc. [NASDAQ: OM] rose 0.63% to $14.41. The stock’s lowest price that day was $14.05, but it reached a high of $14.98 in the same session. During the last five days, there has been a surge of approximately 7.06%. Over the course of the year, Outset Medical Inc. shares have dropped approximately -68.74%. Shares of the company reached a 52-week high of $48.71 on 04/04/22 and a 52-week low of $13.25 on 06/14/22. A 50-day SMA is recorded $27.99, while a 200-day SMA reached $41.29. Nevertheless, trading volume fell to 1.16 million shares from 1.49 million shares the previous day.

Support And Resistance Levels for Outset Medical Inc. (OM)

According to the 24-hour chart, there is a support level at 13.98, which, if violated, would cause prices to drop to 13.55. In the upper region, resistance lies at 14.91. The next price resistance is at 15.41. RSI (Relative Strength Index) is 28.92 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.10, which suggests the price will decrease in the coming days. Percent R is at 88.77%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of Outset Medical Inc. (OM)?

According to Fidelity Management & Research Co filings, the company currently owns 7,075,973 shares, which is about 14.81% of the total OM shares outstanding. The investor’s shares have appreciated by 45,562 from its previous 13-F filing of 7030411.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $91,816,455. AllianceBernstein LP acquire a 21.43% interest valued at $69.2 million while BlackRock Fund Advisors purchased a 3,208 stake. A total of -129,569 shares of Outset Medical Inc. were bought by PFM Health Sciences LP during the quarter, and 832,754 were bought by T. Rowe Price Associates, Inc. In its current portfolio, Champlain Investment Partners LLC holds 2,046,685 shares valued at $44.62 million.

In terms of Outset Medical Inc. share price expectations, FactSet research, analysts set an average price target of $36.60 in the next 12 months, up nearly 130.45% from the previous closing price of $14.32. Analysts anticipate Outset Medical Inc. stock to reach $48.00 by 2022, with the lowest price target being $24.00. In spite of this, 6 analysts ranked Outset Medical Inc. stock as a Buy at the end of 2022.

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