Let’s look at the key reasons that are pushing Outset Medical Inc (OM) to new highs

A new trading day began on Tuesday, with Outset Medical Inc (NASDAQ: OM) stock price down -3.37% from the previous day of trading, before settling in for the closing price of $2.08. OM’s price has ranged from $1.98 to $24.13 over the past 52 weeks.

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Over the past five-year period, the growth rate of yearbook sales for the company of the Healthcare sector was 202.67%. Meanwhile, its annual earnings per share averaged 23.17%. With a float of $46.36 million, this company’s outstanding shares have now reached $50.32 million.

Considering the fact that the conglomerate employs 480 people, you should pay attention to its efficiency factor.

Outset Medical Inc (OM) Breakdown of a Key Holders of the stock

As we move forward, let’s examine how large-scale investors are investing in this stock of the Medical Devices Industry. The insider ownership of Outset Medical Inc is 8.20%, while institutional ownership is 105.24%. The most recent insider transaction that took place on Mar 15 ’24, was worth 5,093. In this transaction SVP Operations and R&D of this company sold 2,391 shares at a rate of $2.13, taking the stock ownership to the 242,510 shares. Before that another transaction happened on Mar 01 ’24, when Company’s Chief Financial Officer sold 1,584 for $3.15, making the entire transaction worth $4,990. This insider now owns 322,877 shares in total.

Outset Medical Inc (OM) Recent Fiscal highlights

In its latest quarterly report, released on 12/30/2023, the company reported earnings of -$0.59 per share, which was $0.1 higher than the consensus estimate of $0.26. In terms of return on equity, this company recorded -19.55% in contrast with 50.0% return on Investment (trailing twelve months). Wall Street market experts anticipate that the next fiscal year will bring earnings of -0.53 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around 23.17% per share during the next fiscal year.

Outset Medical Inc (NASDAQ: OM) Trading Performance Indicators

Here are Outset Medical Inc’s current performance indicators. According to the last quarter’s results, the stock had a quick ratio of 4.37. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 0.78.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -3.49, a number that is poised to hit -0.54 in the next quarter and is forecasted to reach -1.80 in one year’s time.

Technical Analysis of Outset Medical Inc (OM)

Compared to the last year’s volume of 1.02 million, its volume of 0.54 million showed lagged in the last five days. As of the previous 9 days, the stock’s Stochastic %D was 33.38%. Additionally, its Average True Range was 0.25.

During the past 100 days, Outset Medical Inc’s (OM) raw stochastic average was set at 1.36%, which indicates a significant decrease from 10.62% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 92.71% in the past 14 days, which was higher than the 90.97% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $2.95, while its 200-day Moving Average is $8.92. Nevertheless, the first resistance level for the watch stands at $2.10 in the near term. At $2.20, the stock is likely to face the second major resistance level. The third major resistance level sits at $2.27. If the price goes on to break the first support level at $1.93, it is likely to go to the next support level at $1.86. Now, if the price goes above the second support level, the third support stands at $1.76.

Outset Medical Inc (NASDAQ: OM) Key Stats

With a market capitalization of 101.53 million, the company has a total of 50,506K Shares Outstanding. Currently, annual sales are 130,380 K while annual income is -172,800 K. The company’s previous quarter sales were 30,510 K while its latest quarter income was -38,600 K.