Outset Medical (NASDAQ:OM) Given New $22.00 Price Target at Cowen

Outset Medical (NASDAQ:OMGet Rating) had its target price dropped by research analysts at Cowen from $33.00 to $22.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Cowen’s price target suggests a potential upside of 25.64% from the stock’s previous close.

A number of other analysts also recently commented on the company. Stifel Nicolaus lowered their target price on Outset Medical from $30.00 to $24.00 in a research note on Monday, July 18th. The Goldman Sachs Group lowered their target price on Outset Medical from $48.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, August 3rd. Finally, Morgan Stanley lowered their price target on Outset Medical from $22.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 11th.

Outset Medical Stock Up 17.5 %

Shares of OM opened at $17.51 on Wednesday. Outset Medical has a 52 week low of $11.41 and a 52 week high of $55.41. The company has a quick ratio of 5.29, a current ratio of 6.26 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $840.60 million, a price-to-earnings ratio of -5.12 and a beta of 1.60. The stock’s 50-day moving average price is $15.68 and its 200-day moving average price is $19.05.

Hedge Funds Weigh In On Outset Medical

A number of hedge funds have recently made changes to their positions in OM. State of New Jersey Common Pension Fund D raised its holdings in shares of Outset Medical by 8.6% during the first quarter. State of New Jersey Common Pension Fund D now owns 61,384 shares of the company’s stock valued at $2,787,000 after acquiring an additional 4,884 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Outset Medical by 7.8% during the first quarter. Envestnet Asset Management Inc. now owns 15,544 shares of the company’s stock valued at $706,000 after acquiring an additional 1,120 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Outset Medical by 1.4% during the first quarter. New York State Common Retirement Fund now owns 183,242 shares of the company’s stock valued at $8,319,000 after acquiring an additional 2,558 shares during the last quarter. BRR OpCo LLC raised its holdings in shares of Outset Medical by 7.4% during the first quarter. BRR OpCo LLC now owns 120,893 shares of the company’s stock valued at $5,489,000 after acquiring an additional 8,282 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Outset Medical by 6.9% in the first quarter. Teacher Retirement System of Texas now owns 8,287 shares of the company’s stock valued at $376,000 after purchasing an additional 532 shares during the last quarter.

Outset Medical Company Profile

(Get Rating)

Outset Medical, Inc, a medical technology company, develops a hemodialysis system for dialysis. It provides the Tablo Hemodialysis System, which comprises a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings.

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