OM

Company Overview — What Does Outset Medical, Inc. Do?

Outset Medical, Inc., a medical technology company, develops a hemodialysis system for dialysis. It provides the Tablo Hemodialysis System, which comprises a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings. The company was formerly known as Home Dialysis Plus, Ltd. and changed its name to Outset Medical, Inc. in January 2015. Outset Medical, Inc. was incorporated in 2003 and is headquartered in San Jose, California. Outset Medical, Inc. (OM) is classified as a micro-cap stock in the Healthcare sector, specifically within the Medical Equipment industry. The company is led by CEO Leslie L. Trigg and employs approximately 520 people. With a market capitalization of $70M, OM is one of the notable companies in the Healthcare sector.

Outset Medical, Inc. (OM) Stock Rating — Reduce (April 2026)

As of April 2026, Outset Medical, Inc. receives a Reduce rating with a composite score of 27.9/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.OM ranks #3,768 out of 4,446 stocks in our coverage universe. Within the Healthcare sector, Outset Medical, Inc. ranks #632 of 838 stocks, placing it in the lower half of its Healthcare peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

OM Stock Price and 52-Week Range

Outset Medical, Inc. (OM) currently trades at $4.19. The stock lost $0.13 (3.0%) in the most recent trading session. The 52-week high for OM is $21.98, which means the stock is currently trading -80.9% from its annual peak. The 52-week low is $3.04, putting the stock 37.8% above its annual trough. Recent trading volume was 31K shares, suggesting relatively thin trading activity.

Is OM Overvalued or Undervalued? — Valuation Analysis

Outset Medical, Inc. (OM) carries a value factor score of 14/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 0.59x, versus the sector average of 2.75x. The price-to-sales ratio is 0.63x, compared to 1.66x for the average Healthcare stock.

At current multiples, Outset Medical, Inc. trades at a premium to most Healthcare peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Outset Medical, Inc. Profitability — ROE, Margins, and Quality Score

Outset Medical, Inc. (OM) earns a quality factor score of 26/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -71.0%, compared to the Healthcare sector average of -43.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -34.1% versus the sector average of -33.1%.

On a margin basis, Outset Medical, Inc. reports gross margins of 37.1%, compared to 71.5% for the sector. The operating margin is -61.4% (sector: -66.1%). Net profit margin stands at -75.9%, versus -58.7% for the average Healthcare stock. Revenue growth is running at 7.5% on a trailing basis, compared to 10.6% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

OM Debt, Balance Sheet, and Financial Health

Outset Medical, Inc. has a debt-to-equity ratio of 76.0%, compared to the Healthcare sector average of 32.0%. Leverage is within a manageable range for the industry, though investors should monitor debt trends over time. The current ratio is 6.67x, indicating strong short-term liquidity. Total debt on the balance sheet is $96M. Cash and equivalents stand at $36M.

OM has a beta of -0.30, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for Outset Medical, Inc. is 34/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

Outset Medical, Inc. Revenue and Earnings History — Quarterly Trend

In TTM 2026, Outset Medical, Inc. reported revenue of $119M and earnings per share (EPS) of $-5.37. Net income for the quarter was $-90M. Gross margin was 37.1%. Operating income came in at $-73M.

In FY 2025, Outset Medical, Inc. reported revenue of $119M and earnings per share (EPS) of $-5.37. Net income for the quarter was $-82M. Gross margin was 39.1%. Revenue grew 5.1% year-over-year compared to FY 2024. Operating income came in at $-67M.

In Q3 2025, Outset Medical, Inc. reported revenue of $29M and earnings per share (EPS) of $-1.00. Net income for the quarter was $-18M. Gross margin was 39.4%. Revenue grew 2.7% year-over-year compared to Q3 2024. Operating income came in at $-16M.

In Q2 2025, Outset Medical, Inc. reported revenue of $31M and earnings per share (EPS) of $-1.04. Net income for the quarter was $-19M. Gross margin was 37.8%. Revenue grew 14.7% year-over-year compared to Q2 2024. Operating income came in at $-17M.

Over the past 8 quarters, Outset Medical, Inc. has demonstrated a growth trajectory, with revenue expanding from $27M to $119M. Investors analyzing OM stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

OM Dividend Yield and Income Analysis

Outset Medical, Inc. (OM) does not currently pay a dividend. This is common among smaller companies in the Medical Equipment industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Healthcare dividend stocks may want to explore other Healthcare stocks or use the stock screener to filter by dividend yield.

OM Momentum and Technical Analysis Profile

Outset Medical, Inc. (OM) has a momentum factor score of 20/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 30/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 69/100 reflects moderate short selling activity.

OM vs Competitors — Healthcare Sector Ranking and Peer Comparison

Within the Healthcare sector, Outset Medical, Inc. (OM) ranks #632 out of 838 stocks based on the Blank Capital composite score. This places OM in the lower half of all Healthcare stocks in our coverage universe. Key competitors and sector peers include ASTRAZENECA PLC (AZN) with a score of 61.4/100, Sol-Gel Technologies Ltd. (SLGL) with a score of 56.6/100, VIEMED HEALTHCARE, INC. (VMD) with a score of 53.4/100, Innoviva, Inc. (INVA) with a score of 52.7/100, and JOHNSON & JOHNSON (JNJ) with a score of 51.7/100.

Comparing OM against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full OM vs S&P 500 (SPY) comparison to assess how Outset Medical, Inc. stacks up against the broader market across all factor dimensions.

OM Next Earnings Date

No upcoming earnings date has been announced for Outset Medical, Inc. (OM) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy OM? — Investment Thesis Summary

The quantitative profile for Outset Medical, Inc. suggests caution. The quality score of 26/100 flags below-average profitability. The value score of 14/100 indicates premium valuation. Momentum is weak at 20/100, a headwind for near-term performance. High volatility (stability score 34/100) increases portfolio risk.

In summary, Outset Medical, Inc. (OM) earns a Reduce rating with a composite score of 27.9/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on OM stock.

Related Resources for OM Investors

Explore more research and tools: OM vs S&P 500 comparison, top Healthcare stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare OM head-to-head with peers: OM vs AZN, OM vs SLGL, OM vs VMD.