Analysts Set Outset Medical, Inc. (NASDAQ:OM) Price Target at $4.64

Shares of Outset Medical, Inc. (NASDAQ:OM) 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.

Outset Medical Trading Down 5.4 %

Shares of OM opened at $0.58 on Friday. Outset Medical has a 12-month low of $0.44 and a 12-month high of $10.30. The firm has a market capitalization of $30.42 million, a P/E ratio of -0.17 and a beta of 1.92. The firm has a 50-day moving average price of $1.15 and a 200 day moving average price of $2.55. The company has a current ratio of 6.80, a quick ratio of 5.38 and a debt-to-equity ratio of 2.87.

Outset Medical (NASDAQ:OM) 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.