During the last session, Outset Medical Inc. (NASDAQ:OM)’s traded shares were 0.37 million. At the end of the trading day, the stock’s price was $39.50, reflecting an intraday loss of -6.97% or -$2.96. The 52-week high for the OM share is $61.00, that puts it down -54.43 from that peak though still a striking 8.78% gain since the share price plummeted to a 52-week low of $36.03. The company’s market capitalization is $1.91B, and the average intraday trading volume over the past 10 days was 0.3 million shares, and the average trade volume was 432.34K shares over the past three months.
Outset Medical Inc. (OM) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 1.90. OM has a Sell rating from 0 analyst(s) out of 6 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.76.
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Outset Medical Inc. (OM) registered a -6.97% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -6.97% in intraday trading to $39.50 this Friday, 01/07/22, hitting a weekly high. The stock’s 5-day price performance is -14.30%, and it has moved by -17.76% in 30 days. Based on these gigs, the overall price performance for the year is -18.99%. The short interest in Outset Medical Inc. (NASDAQ:OM) is 5.16 million shares and it means that shorts have 12.98 day(s) to cover.
The consensus price target of analysts on Wall Street is $63.80, which implies an increase of 38.09% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $55.00 and $70.00 respectively. As a result, OM is trading at a discount of -77.22% off the target high and -39.24% off the low.
Outset Medical Inc. (OM) estimates and forecasts
Statistics show that Outset Medical Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Outset Medical Inc. (OM) shares have gone down -12.07% during the last six months, with a year-to-date growth rate more than the industry average at 32.20% against 13.50. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -1.30% this quarter and then jump 12.90% in the quarter after that. In the rating firms’ projections, revenue will increase 102.00% compared to the previous financial year.
Revenue for the current quarter is expected to be $26.42 million as predicted by 5 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $28.34 million by the end of Mar 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $17.25 million and $22.92 million respectively. In this case, analysts expect current quarter sales to grow by 53.20% and then jump by 23.70% in the coming quarter.
While earnings are projected to return 1.70% in 2022.
Outset Medical Inc. is due to release its next quarterly earnings between March 07 and March 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Outset Medical Inc. (NASDAQ:OM)’s Major holders
Outset Medical Inc. insiders own 0.70% of total outstanding shares while institutional holders control 114.05%, with the float percentage being 114.85%. FMR, LLC is the largest shareholder of the company, while 221 institutions own stock in it. As of Sep 29, 2021, the company held over 6.95 million shares (or 14.75% of all shares), a total value of $343.46 million in shares.
The next largest institutional holding, with 4.83 million shares, is of Blackrock Inc.’s that is approximately 10.26% of outstanding shares. At the market price on Sep 29, 2021, these shares were valued at $238.82 million.
Also, the Mutual Funds coming in first place with the largest holdings of Outset Medical Inc. (OM) shares are BlackRock Innovation and Growth Trust and Fidelity Growth Company Fund. Data provided on Sep 29, 2021 indicates that BlackRock Innovation and Growth Trust owns about 1.81 million shares. This amounts to just over 3.84 percent of the company’s overall shares, with a $89.42 million market value. The same data shows that the other fund manager holds slightly less at 1.48 million, or about 3.15% of the stock, which is worth about $79.03 million.