Why Outset Medical Shares Are Plummeting Today
Portfolio Pulse from Nabaparna Bhattacharya
Outset Medical, Inc. (NASDAQ:OM) shares are trading lower after the company announced preliminary Q3 revenue of $30.4 million, below the consensus estimate of $36.03 million. The company attributes the lower revenue to the impact of a recent FDA warning letter and a cautious outlook on capital spending. Outset now expects 2023 revenue to be approximately $130 million, below the consensus estimate of $144.62 million.
October 13, 2023 | 1:33 pm
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Outset Medical's lower than expected Q3 revenue and reduced 2023 revenue forecast could negatively impact its stock price.
Outset Medical's shares are trading lower due to lower than expected Q3 revenue and a reduced 2023 revenue forecast. This news is directly related to the company's financial performance and could negatively impact investor sentiment, leading to a potential decrease in the stock price.
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