Outset Medical Ascends 12% In Morning Trade

(RTTNews) - Shares of Outset Medical, Inc. (OM) are rising more than 12% Wednesday morning at $20.14.

There have been no company-specific news today to propel the stock.

Early in the month, a the company had reported a revenue growth of 5.5% year-on-year to $27.8 million for its third quarter.

The company also had increased its full-year revenue outlook to $111 million-$113 million from $105 million-$110 million projected earlier.

On November 16, Outset had said it ranked 33 on the Deloitte Technology Fast 500, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech and energy tech companies in North America.

Outset revenue grew 5,000 percent to $103 million between 2018 and 2021.

Outset Medical is a medical technology company, that develops a hemodialysis system for dialysis.

OM has traded in the range of $11.41-$51.69 in the last 1 year.