Leslie Trigg, Chair and CEO of Outset Medical (TASE:PMCN) Inc. (NASDAQ:OM), reported several stock transactions, according to a recent SEC filing. The company’s stock, currently trading at $0.78, has experienced significant volatility, falling nearly 80% over the past year according to InvestingPro data. On January 17, 2025, Trigg acquired 99,419 shares of common stock at no cost, following the certification of performance criteria by the company’s Compensation Committee. This acquisition increased her direct ownership to 960,816 shares.
Subsequently, on January 21, 2025, Trigg sold a total of 65,236 shares of Outset Medical stock at a price of $0.80 per share, amounting to a total sale value of $52,188. These sales were made to cover tax withholding obligations related to previously earned performance-based restricted stock units. Following these transactions, Trigg’s direct ownership stands at 895,580 shares.
In other recent news, Outset Medical Inc . has made significant strides in its financial developments and Q3 2024 results. The company recently closed a private placement offering and issued Series A Non-Voting Convertible Preferred Stock, a strategic move aimed at bolstering its balance sheet. Outset Medical also terminated its existing senior secured credit facilities, establishing a new financial obligation with Perceptive Credit Holdings IV, LP.
Further, the company borrowed $100 million as an initial term loan from Perceptive Credit Holdings IV, LP. This loan, coupled with cash reserves, was used to repay existing debts. Additionally, Outset Medical issued a warrant for the purchase of over 5 million shares of its common stock.
In terms of earnings and revenue, Outset Medical’s Q3 revenue reached $28.7 million, surpassing guidance with treatment revenue up by 14% and service revenue by 22%. Despite reporting a net loss of $20.2 million for the quarter, this was an improvement from the previous year, and the company’s gross margin improved to 36.4%.
Lastly, BTIG analyst Maria Thibault revised the price target for Outset Medical to $3.00 from the previous $4.00, while maintaining a Buy rating for the stock. These are all recent developments investors should be aware of.
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