Outset Medical (NASDAQ:OM) Trading 8.6% Higher

Outset Medical, Inc. (NASDAQ:OMGet Rating)’s share price was up 8.6% during mid-day trading on Friday . The stock traded as high as $19.02 and last traded at $19.02. Approximately 1,462 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 460,994 shares. The stock had previously closed at $17.51.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Royal Bank of Canada assumed coverage on shares of Outset Medical in a report on Friday. They set an “outperform” rating and a $23.00 target price on the stock. The Goldman Sachs Group decreased their target price on Outset Medical from $34.00 to $29.00 and set a “buy” rating for the company in a research report on Wednesday. Cowen dropped their target price on Outset Medical from $33.00 to $22.00 in a report on Wednesday. Stifel Nicolaus decreased their price target on Outset Medical from $30.00 to $24.00 in a report on Monday, July 18th. Finally, Morgan Stanley dropped their price objective on shares of Outset Medical from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.83.

Outset Medical Stock Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 6.26 and a quick ratio of 5.29. The stock has a 50-day moving average price of $15.70 and a 200-day moving average price of $18.91. The firm has a market capitalization of $858.42 million, a PE ratio of -5.23 and a beta of 1.60.

Hedge Funds Weigh In On Outset Medical

Several institutional investors and hedge funds have recently made changes to their positions in OM. Teacher Retirement System of Texas increased its holdings in 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 buying an additional 532 shares during the last quarter. Blueshift Asset Management LLC boosted its holdings in Outset Medical by 10.3% in the first quarter. Blueshift Asset Management LLC now owns 5,900 shares of the company’s stock worth $268,000 after purchasing an additional 551 shares during the period. Tower Research Capital LLC TRC increased its stake in Outset Medical by 38.4% during the third quarter. Tower Research Capital LLC TRC now owns 3,016 shares of the company’s stock valued at $48,000 after purchasing an additional 837 shares during the last quarter. Assetmark Inc. increased its stake in Outset Medical by 49.7% during the third quarter. Assetmark Inc. now owns 2,712 shares of the company’s stock valued at $43,000 after purchasing an additional 900 shares during the last quarter. Finally, Griffin Asset Management Inc. raised its holdings in shares of Outset Medical by 2.5% during the third quarter. Griffin Asset Management Inc. now owns 40,109 shares of the company’s stock worth $639,000 after purchasing an additional 965 shares during the period.

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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