Outset Medical, Inc. (NASDAQ:OM) Receives Average Recommendation of “Hold” from Brokerages

Outset Medical, Inc. (NASDAQ:OM) has been assigned an average rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $5.42.

OM has been the subject of a number of research reports. Royal Bank of Canada cut shares of Outset Medical from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $14.00 to $6.00 in a report on Friday, January 12th. BTIG Research assumed coverage on Outset Medical in a research note on Monday, April 8th. They issued a “buy” rating and a $6.00 target price for the company. Finally, CL King raised Outset Medical from a “neutral” rating to a “buy” rating and set a $6.00 price target on the stock in a research note on Friday, April 5th.

Hedge Funds Weigh In On Outset Medical

Large investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in Outset Medical by 1.1% during the 3rd quarter. FMR LLC now owns 7,468,531 shares of the company’s stock worth $81,258,000 after acquiring an additional 84,320 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Outset Medical by 0.5% during the third quarter. Vanguard Group Inc. now owns 4,769,491 shares of the company’s stock worth $51,892,000 after purchasing an additional 21,756 shares during the last quarter. Braidwell LP grew its position in Outset Medical by 64.4% in the 3rd quarter. Braidwell LP now owns 2,400,427 shares of the company’s stock worth $26,117,000 after purchasing an additional 940,059 shares in the last quarter. Eagle Health Investments LP increased its stake in Outset Medical by 24.5% in the 3rd quarter. Eagle Health Investments LP now owns 1,494,514 shares of the company’s stock valued at $16,260,000 after buying an additional 294,129 shares during the last quarter. Finally, Mubadala Investment Co PJSC bought a new position in shares of Outset Medical during the 4th quarter worth approximately $7,794,000.

Outset Medical Stock Performance

Shares of OM opened at $2.63 on Tuesday. The company has a current ratio of 5.26, a quick ratio of 4.37 and a debt-to-equity ratio of 1.06. The firm’s fifty day simple moving average is $2.52 and its two-hundred day simple moving average is $3.78. Outset Medical has a 12 month low of $1.92 and a 12 month high of $24.13. The stock has a market capitalization of $135.97 million, a P/E ratio of -0.75 and a beta of 1.99.

Outset Medical (NASDAQ:OM) last announced its earnings results on Wednesday, February 21st. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.03). The business had revenue of $30.51 million for the quarter, compared to the consensus estimate of $30.40 million. Outset Medical had a negative net margin of 132.54% and a negative return on equity of 102.50%. As a group, analysts predict that Outset Medical will post -2.28 EPS for the current year.

About Outset Medical

Outset Medical, Inc, a medical technology company, engages in the development of a hemodialysis system for hemodialysis in the United States. The company offers Tablo Hemodialysis System, a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings; and manufactures, supports, and distributes for Tablo console, Tablo cartridge, and other consumables.