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

Shares of Outset Medical, Inc. (NASDAQ:OM) have been assigned an average recommendation of “Hold” from the six ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given 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.

A number of analysts have recently issued reports on the company. BTIG Research assumed coverage on Outset Medical in a research report on Monday, April 8th. They issued a “buy” rating and a $6.00 price objective for the company. Royal Bank of Canada downgraded Outset Medical from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $14.00 to $6.00 in a report on Friday, January 12th. Finally, CL King upgraded shares of 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.

Institutional Investors Weigh In On Outset Medical

A number of institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. acquired a new stake in shares of Outset Medical in the third quarter valued at about $6,807,000. FMR LLC increased its position in Outset Medical by 1.1% during the 3rd quarter. FMR LLC now owns 7,468,531 shares of the company’s stock valued at $81,258,000 after purchasing an additional 84,320 shares during the period. Braidwell LP raised its holdings in Outset Medical by 64.4% during 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 during the last quarter. Eagle Health Investments LP raised its holdings in Outset Medical by 24.5% during the 3rd quarter. Eagle Health Investments LP now owns 1,494,514 shares of the company’s stock worth $16,260,000 after purchasing an additional 294,129 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Outset Medical by 6.6% in the 3rd quarter. Swiss National Bank now owns 102,800 shares of the company’s stock worth $1,118,000 after purchasing an additional 6,400 shares during the period.

Outset Medical Stock Performance

OM opened at $3.14 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 5.26 and a quick ratio of 4.37. The company has a market capitalization of $162.34 million, a price-to-earnings ratio of -0.90 and a beta of 1.85. The business’s 50-day moving average price is $2.48 and its two-hundred day moving average price is $3.76. Outset Medical has a 1 year low of $1.92 and a 1 year high of $24.13.

Outset Medical (NASDAQ:OM) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.03). The business had revenue of $30.51 million for the quarter, compared to analyst estimates of $30.40 million. Outset Medical had a negative return on equity of 102.50% and a negative net margin of 132.54%. Equities analysts expect that Outset Medical will post -2.28 EPS for the current fiscal year.

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.