Marc Nash, Senior Vice President of Operations and R&D at Outset Medical (TASE:), Inc. (NASDAQ:), recently announced a series of stock transactions involving the company’s common stock. According to a Form 4 filed with the Securities and Exchange Commission, Nash sold a total of 23,221 shares on January 21, 2025. The shares were sold for $0.80 each, for a total of $18,576.
These sales were made to cover withholding tax obligations related to the vesting of performance-based restricted stock units. Prior to the sales, Nash acquired 5,898 shares on January 17, 2025, at no cost, as part of a performance-based award. As a result of these transactions, Nash directly owns 204,968 shares of Outset Medical. The company maintains strong liquidity with a quick ratio of 6.49, although InvestPro Analysis indicates the stock is currently overvalued, with 12 additional key insights available to subscribers.
“In other recent news, Outset Medical Inc . has disclosed important updates. Analyst Maria Thibault of BTIG revised Outset Medical’s price target to $3.00, maintaining a Buy rating, although the adjustment is a decrease from the previous $4.00. The move follows the company’s latest financial developments, including preliminary fourth-quarter revenue that exceeded expectations. Outset Medical recently entered into a private placement financing agreement, supplemented by additional funds from the company’s management and board members, and established a new $100 million credit agreement with Perceptive Credit Holdings IV, LP.
Additionally, Outset Medical borrowed $100 million as an initial term loan from Perceptive Credit Holdings IV, LP, using the loan and cash reserves to repay existing debts. The company also issued a warrant to purchase more than 5 million shares of common stock. These are recent developments in the company’s financial strategy.
In terms of profit and revenue, Outset Medical’s third-quarter revenue reached $28.7 million, beating forecasts with treatment revenue up 14% and service revenue up 22%. . Despite a net loss of $20.2 million for the quarter, it was an improvement from the prior year and the company’s gross margin improved to 36.4%. Outset Medical also raised its 2024 revenue forecast to around $112 million. These are recent developments that investors should be aware of. »
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