Cowen Lowers Outset Medical (NASDAQ:OM) Price Target to $22.00

Outset Medical (NASDAQ:OMGet Rating) had its price objective cut by Cowen to $22.00 in a report released on Tuesday, Stock Target Advisor reports. Cowen’s target price would indicate a potential upside of 12.13% from the company’s previous close.

Several other brokerages also recently weighed in on OM. 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, November 9th. Cowen decreased their target price on Outset Medical from $33.00 to $22.00 in a research report on Wednesday, November 9th. Morgan Stanley decreased their target price on Outset Medical from $19.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, November 10th. Royal Bank of Canada initiated coverage on Outset Medical in a research report on Friday, November 11th. They issued an “outperform” rating and a $23.00 target price for the company. Finally, Stifel Nicolaus decreased their target price on Outset Medical from $30.00 to $24.00 in a research report on Monday, July 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.83.

Outset Medical Stock Performance

Shares of NASDAQ:OM opened at $19.62 on Tuesday. The firm has a market capitalization of $947.80 million, a PE ratio of -5.74 and a beta of 1.60. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.24 and a quick ratio of 5.13. The business has a 50-day moving average of $15.79 and a two-hundred day moving average of $18.42. Outset Medical has a 12 month low of $11.41 and a 12 month high of $55.41.

Insider Activity at Outset Medical

In other Outset Medical news, CEO Leslie Trigg sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $20.00, for a total transaction of $600,000.00. Following the sale, the chief executive officer now owns 291,159 shares in the company, valued at $5,823,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Outset Medical news, COO Martin Vazquez sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $20.00, for a total transaction of $300,000.00. Following the sale, the chief operating officer now owns 49,550 shares in the company, valued at $991,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Leslie Trigg sold 30,000 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $20.00, for a total value of $600,000.00. Following the sale, the chief executive officer now owns 291,159 shares in the company, valued at $5,823,180. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,131 shares of company stock valued at $901,968. Insiders own 4.00% of the company’s stock.

Institutional Trading of Outset Medical

A number of institutional investors and hedge funds have recently made changes to their positions in OM. FMR LLC increased its position in Outset Medical by 0.8% in the 2nd quarter. FMR LLC now owns 7,169,138 shares of the company’s stock valued at $106,533,000 after acquiring an additional 57,429 shares during the period. JPMorgan Chase & Co. increased its position in Outset Medical by 70.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,191,427 shares of the company’s stock valued at $77,144,000 after acquiring an additional 2,140,206 shares during the period. Vanguard Group Inc. increased its position in Outset Medical by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,491,145 shares of the company’s stock valued at $71,543,000 after acquiring an additional 146,881 shares during the period. BlackRock Inc. increased its position in Outset Medical by 2.3% in the 3rd quarter. BlackRock Inc. now owns 3,308,651 shares of the company’s stock valued at $52,705,000 after acquiring an additional 75,491 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Outset Medical by 18.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,849,061 shares of the company’s stock valued at $42,337,000 after acquiring an additional 433,637 shares during the period.

Outset Medical Company Profile

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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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Analyst Recommendations for Outset Medical (NASDAQ:OM)

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