Investing in Outset Medical Inc. (OM) Is Getting More Attractive


Outset Medical Inc.’s recently made public that its Chief People Officer Porter Stacey L. unloaded Company’s shares for reported $1968.0 on Oct 25. In the deal valued at $15.02 per share,131 shares were sold. As a result of this transaction, Porter Stacey L. now holds 30,564 shares worth roughly $ 0.38 million.

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Then, Ahmed Nabeel sold 87 shares, generating $1,570 in total proceeds. Upon selling the shares at $18.05, the Chief Financial Officer now owns 42,413 shares.

Before that, Trigg Leslie sold 914 shares. Outset Medical Inc. shares valued at $19,633 were divested by the Chair and CEO at a price of $21.48 per share. As a result of the transaction, Trigg Leslie now holds 291,159 shares, worth roughly $3.61 million.

Morgan Stanley downgraded its Outset Medical Inc. [OM] rating to an Equal-weight from a an Overweight in a research note published on Monday, July 14, 2022; the price target was decreased to $20 from $48. PT values the company’s stock at a premium of 38.0 to its Monday closing price. Morgan Stanley also remained covering OM and has increased its forecast on February 17, 2022 with a “an Overweight” recommendation from previously “an Equal-weight” rating. Cowen started covering the stock on August 18, 2021. It rated OM as “an Outperform”.

Price Performance Review of OM

On Monday, Outset Medical Inc. [NASDAQ:OM] saw its stock fall -5.63% to $12.40. On the same session, the stock had its day’s lowest price of $12.31, but rose to a high of $13.36. Over the last five days, the stock has lost -20.21%. Outset Medical Inc. shares have fallen nearly -73.10% since the year began. Nevertheless, the stocks have fallen -78.75% over the past one year. While a 52-week high of $60.33 was reached on 04/04/22, a 52-week low of $12.26 was recorded on 11/04/22. SMA at 50 days reached $15.91, while 200 days put it at $26.16. A total of 0.91 million shares were traded, compared to the trading of 0.33 million shares in the previous session.

Levels Of Support And Resistance For OM Stock

The 24-hour chart illustrates a support level at 12.02, which if violated will result in even more drops to 11.64. On the upside, there is a resistance level at 13.07. A further resistance level may holdings at 13.74. The Relative Strength Index (RSI) on the 14-day chart is 29.74, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.61, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.73%. Stochastics %K at 8.59% indicates the stock is a buying.

How much short interest is there in Outset Medical Inc.?

A steep rise in short interest was recorded in Outset Medical Inc. stocks on Jul 14, 2022, dropping by -2.6 million shares to a total of 3.98 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 6.58 million shares. There was a decline of -65.33%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 9.83% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.11.

Outset Medical Inc. [OM] – Who Are The Largest Shareholders?

In filings from Fidelity Management & Research Co, it is revealed that the company now owns 7,147,852 shares, or roughly 14.89% of the outstanding OM shares. In other words, the investor’s shares have risen by 71,879 from its previous 13-F filing of 7075973.0. Additionally, The Vanguard Group, Inc. increased 0.50% of its stake after which the total value it holdings stand at $67,430,432, while JPMorgan Investment Management, I added 67.63% of its stake to hold $52.14 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 50,157 shares of Outset Medical Inc., while T. Rowe Price Associates, Inc. bought 433,637 shares. At present, Bellevue Asset Management AG is holding 2,326,718 shares valued at $37.06 million. JPMorgan Asset Management owned 1,769,270 shares of the company at the time of its most recent 13F filing, worth $28.18 million.

According to FactSet, Outset Medical Inc.’s share price will average $27.40 in the next year, based on opinions of analysts polled by the firm. This is up nearly 105.48 percent from its previous closing price of $13.14. Analysts expect Outset Medical Inc. stock to reach the higher price of $34.00, while the lowest price estimate is $19.00. However, 6 analysts have rated OM stock as an Overweight in their predictions for 2022. The most recent change occurred on April 19, 2021 when Wells Fargo began covering the stock and recommended ‘”an Overweight”‘ rating along with a $63 price target.


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