Capstone Holding Corp. lowers convertible note conversion price to $1.00
John L. Brottem, the General Counsel of Outset Medical (TASE:PMCN), Inc. (NASDAQ:OM), recently sold 1,572 shares of the company's common stock. The shares were sold at a price of $1.29 each, totaling $2,027. Following the transaction, Brottem holds 225,520 shares in the company. The transaction comes amid challenging market conditions for Outset Medical, which has seen its stock decline nearly 80% over the past year. According to InvestingPro analysis, the company's current market capitalization stands at $57.27 million, with the stock showing significant volatility.
This sale was not a discretionary trade but was made to cover tax withholding obligations related to previously earned performance stock units. These units were vested and released on January 6, 2025, and the sale was executed as a "sell to cover" transaction. InvestingPro analysis indicates the company is currently undervalued, with additional insights available through their comprehensive Pro Research Report, which covers over 1,400 US stocks including Outset Medical.
In other recent news, Outset Medical, Inc. has reported a strong financial performance for the third quarter of 2024. The company highlighted a record recurring revenue, significant increase in treatment and service revenue, and an upward revision of their revenue guidance for the year. Q3 revenue reached $28.7 million, surpassing predictions, with treatment revenue up by 14% and service revenue by 22%. Furthermore, gross margin improved to 36.4%, with a net loss declining by 43% from the previous year. The company raised its 2024 revenue guidance to approximately $112 million, with a gross margin expected in the mid-30% range. Despite a net loss of $20.2 million for the quarter, recurring revenue now constitutes about 60% of total revenue, indicating a positive financial trajectory. Finally, Outset Medical expressed optimism about long-term growth, with a strong order pipeline and a solid recurring revenue foundation for 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.