Outset Medical, Inc. (NASDAQ:OM) Given Average Rating of “Hold” by Brokerages

Shares of Outset Medical, Inc. (NASDAQ:OM) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $4.64.

OM has been the topic of several analyst reports. Royal Bank of Canada downgraded Outset Medical from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $6.00 to $3.00 in a research report on Thursday, August 8th. TD Cowen reduced their target price on shares of Outset Medical from $9.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

Hedge Funds Weigh In On Outset Medical

Several institutional investors and hedge funds have recently modified their holdings of OM. Mubadala Investment Co PJSC acquired a new position in shares of Outset Medical during the 4th quarter worth approximately $7,794,000. PFM Health Sciences LP acquired a new stake in shares of Outset Medical in the fourth quarter valued at about $5,406,000. Massachusetts Financial Services Co. MA increased its stake in shares of Outset Medical by 118.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,538,859 shares of the company’s stock worth $5,925,000 after purchasing an additional 834,663 shares in the last quarter. Millennium Management LLC raised its position in shares of Outset Medical by 58.8% during the 2nd quarter. Millennium Management LLC now owns 1,942,899 shares of the company’s stock worth $7,480,000 after purchasing an additional 719,412 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Outset Medical by 369.4% in the 1st quarter. Acadian Asset Management LLC now owns 779,242 shares of the company’s stock valued at $1,728,000 after buying an additional 613,229 shares in the last quarter.

Outset Medical Stock Performance

NASDAQ OM opened at $0.58 on Friday. The business has a 50-day moving average price of $1.15 and a 200-day moving average price of $2.55. The firm has a market cap of $30.42 million, a price-to-earnings ratio of -0.17 and a beta of 1.92. Outset Medical has a twelve month low of $0.44 and a twelve month high of $10.30. 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 (NASDAQ:OM) last announced 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 return on equity of 143.52% and a negative net margin of 136.72%. The company had revenue of $27.39 million during the quarter, compared to analysts’ expectations of $31.19 million. During the same quarter in the previous year, the firm earned ($0.90) EPS. As a group, equities research analysts predict that Outset Medical will post -2.52 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.