As of Tuesday, Outset Medical Inc.’s (NASDAQ:OM) stock closed at $28.11, up from $27.20 the previous day. While Outset Medical Inc. has overperformed by 3.35%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, OM fell by -26.72%, with highs and lows ranging from $48.71 to $11.41, whereas the simple moving average jumped by 29.72% in the last 200 days.
On November 11, 2022, RBC Capital Mkts started tracking Outset Medical Inc. (NASDAQ: OM) recommending Outperform. A report published by Morgan Stanley on July 14, 2022, Downgraded its rating to ‘Equal-Weight’ for OM. BofA Securities also rated OM shares as ‘Buy’, setting a target price of $50 on the company’s shares in an initiating report dated March 02, 2022. Cowen initiated its ‘Outperform’ rating for OM, as published in its report on August 18, 2021. Wells Fargo’s report from April 19, 2021 suggests a price prediction of $63 for OM shares, giving the stock a ‘Overweight’ rating. Oppenheimer also rated the stock as ‘Perform’.
Analysis of Outset Medical Inc. (OM)
Further, the quarter-over-quarter increase in sales is 5.70%, showing a positive trend in the upcoming months.
One of the most important indicators of Outset Medical Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -49.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 5.10, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and OM is recording 556.22K average volume. On a monthly basis, the volatility of the stock is set at 5.59%, whereas on a weekly basis, it is put at 5.18%, with a loss of -0.64% over the past seven days. Furthermore, long-term investors anticipate a median target price of $30.60, showing growth from the present price of $28.11, which can serve as yet another indication of whether OM is worth investing in or should be passed over.
How Do You Analyze Outset Medical Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.10%. This can enable you to see the extent to which executives own the company’s stock.
Are institutional investors increasing their holdings in OM shares?
The recent increase in stakes in OM appears to be a result of several institutional investors and hedge funds increasing their positions. Fidelity Management & Research Co’s position in OM has increased by 0.42% in the first quarter. The company now owns 7,178,009 shares of the stock, with a value of $185.34 million, following the purchase of 30,157 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in OM during the first quarter, upping its stake by 3.42%.
At the end of the first quarter, BlackRock Fund Advisors increased its OM holdings by 1.35% and now holds 2.95 million OM shares valued at $76.17 million with the added 39317.0 shares during the period.