Outset Medical (NASDAQ:OM) Price Target Raised to $14.00

Outset Medical (NASDAQ:OM) had its price objective boosted by Royal Bank of Canada from $12.00 to $14.00 in a research note released on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Separately, Stifel Nicolaus set a $15.00 target price on Outset Medical in a research report on Friday, March 21st.

Outset Medical Price Performance

NASDAQ OM opened at $15.30 on Thursday. The business’s fifty day moving average is $10.67 and its 200 day moving average is $12.46. Outset Medical has a fifty-two week low of $5.85 and a fifty-two week high of $72.60. The company has a debt-to-equity ratio of 4.12, a quick ratio of 5.04 and a current ratio of 6.49. The company has a market capitalization of $55.00 million, a PE ratio of -6.17 and a beta of 1.90.

Outset Medical (NASDAQ:OM) last issued its earnings results on Wednesday, May 7th. The company reported ($3.66) earnings per share for the quarter, missing the consensus estimate of ($0.97) by ($2.69). The firm had revenue of $29.75 million during the quarter, compared to the consensus estimate of $27.81 million. Outset Medical had a negative return on equity of 175.64% and a negative net margin of 112.57%. Sell-side analysts predict that Outset Medical will post -1.99 earnings per share for the current year.

Institutional Investors Weigh In On Outset Medical

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its position in shares of Outset Medical by 1,167.7% during the 4th quarter. Renaissance Technologies LLC now owns 686,748 shares of the company’s stock valued at $762,000 after purchasing an additional 632,574 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Outset Medical in the fourth quarter worth approximately $50,000. Two Sigma Securities LLC lifted its stake in shares of Outset Medical by 190.0% during the 4th quarter. Two Sigma Securities LLC now owns 42,477 shares of the company’s stock worth $47,000 after acquiring an additional 27,830 shares during the last quarter. Birchview Capital LP boosted its stake in shares of Outset Medical by 3,587.7% during the fourth quarter. Birchview Capital LP now owns 368,766 shares of the company’s stock valued at $409,000 after purchasing an additional 358,766 shares during the period. Finally, Two Sigma Investments LP increased its stake in Outset Medical by 36.0% in the 4th quarter. Two Sigma Investments LP now owns 488,602 shares of the company’s stock worth $542,000 after buying an additional 129,334 shares during the period.

Outset Medical Company Profile

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.