Outset Medical (NASDAQ:OM) Trading 35.3% Higher Following Analyst Upgrade

Outset Medical, Inc. (NASDAQ:OM) was up 35.3% on Thursday after Royal Bank of Canada raised their price target on the stock from $12.00 to $14.00. Royal Bank of Canada currently has a sector perform rating on the stock. Outset Medical traded as high as $16.40 and last traded at $15.88. Approximately 692,423 shares were traded during trading, an increase of 622% from the average daily volume of 95,839 shares. The stock had previously closed at $11.74.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. TD Asset Management Inc bought a new position in shares of Outset Medical in the first quarter valued at approximately $589,000. Massachusetts Financial Services Co. MA purchased a new stake in Outset Medical in the 1st quarter valued at $9,293,000. Squarepoint Ops LLC bought a new position in Outset Medical during the 4th quarter valued at $174,000. Two Sigma Investments LP boosted its holdings in Outset Medical by 36.0% during the 4th quarter. Two Sigma Investments LP now owns 488,602 shares of the company’s stock worth $542,000 after acquiring an additional 129,334 shares during the last quarter. Finally, Birchview Capital LP boosted its holdings in Outset Medical by 3,587.7% during the 4th quarter. Birchview Capital LP now owns 368,766 shares of the company’s stock worth $409,000 after acquiring an additional 358,766 shares during the last quarter.

Outset Medical Stock Performance

The company’s 50 day moving average price is $10.67 and its 200-day moving average price is $12.43. The stock has a market cap of $55.00 million, a P/E ratio of -6.17 and a beta of 1.90. The company has a debt-to-equity ratio of 4.12, a quick ratio of 5.04 and a current ratio of 6.49.

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

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.