Shares of Outset Medical, Inc. (NASDAQ:OM – Get Free Report) have been given an average recommendation of “Hold” by the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $4.64.
A number of research analysts have commented on the company. TD Cowen decreased their price target on Outset Medical from $9.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada lowered Outset Medical from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $6.00 to $3.00 in a research note on Thursday, August 8th.
Check Out Our Latest Stock Report on OM
Outset Medical Trading Down 5.4 %
Outset Medical (NASDAQ:OM – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.07). The business had revenue of $27.39 million for the quarter, compared to analysts’ expectations of $31.19 million. Outset Medical had a negative return on equity of 143.52% and a negative net margin of 136.72%. During the same quarter in the prior year, the company posted ($0.90) earnings per share. Sell-side analysts forecast that Outset Medical will post -2.52 EPS for the current year.
Institutional Trading of Outset Medical
Hedge funds have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC acquired a new position in Outset Medical during the second quarter worth $49,000. Ground Swell Capital LLC acquired a new position in shares of Outset Medical during the 2nd quarter worth $49,000. State Board of Administration of Florida Retirement System boosted its position in shares of Outset Medical by 33.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,842 shares of the company’s stock worth $42,000 after buying an additional 4,720 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Outset Medical in the 2nd quarter valued at about $105,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Outset Medical during the 2nd quarter valued at about $259,000.
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.
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