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

Shares of Outset Medical, Inc. (NASDAQ:OM) have received an average rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $4.64.

A number of equities analysts have commented on OM shares. Royal Bank of Canada downgraded shares of Outset Medical from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $6.00 to $3.00 in a research report on Thursday, August 8th. TD Cowen reduced their price objective on shares of Outset Medical from $9.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, August 8th.

Outset Medical Stock Down 2.9 %

Shares of NASDAQ OM opened at $0.51 on Monday. The business has a 50-day moving average price of $2.59 and a 200 day moving average price of $2.92. The stock has a market cap of $26.70 million, a PE ratio of -0.15 and a beta of 2.00. The company has a quick ratio of 5.38, a current ratio of 6.80 and a debt-to-equity ratio of 2.87. Outset Medical has a 52-week low of $0.50 and a 52-week high of $13.93.

Outset Medical (NASDAQ:OM) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.07). Outset Medical had a negative net margin of 136.72% and a negative return on equity of 143.52%. The business had revenue of $27.39 million during the quarter, compared to analysts’ expectations of $31.19 million. During the same quarter last year, the company earned ($0.90) EPS. Equities research analysts forecast that Outset Medical will post -2.52 earnings per share for the current year.

Hedge Funds Weigh In On Outset Medical

A number of institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in Outset Medical in the fourth quarter valued at $264,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Outset Medical during the 4th quarter worth about $161,000. RPO LLC purchased a new position in shares of Outset Medical during the 4th quarter worth about $76,000. PFM Health Sciences LP purchased a new stake in Outset Medical in the fourth quarter valued at approximately $5,406,000. Finally, GSA Capital Partners LLP increased its position in Outset Medical by 508.9% during the fourth quarter. GSA Capital Partners LLP now owns 514,317 shares of the company’s stock worth $2,782,000 after purchasing an additional 429,851 shares during the last quarter.

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.