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

Shares of Outset Medical, Inc. (NASDAQ:OM) have been assigned a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $5.42.

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada cut shares of Outset Medical from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $14.00 to $6.00 in a report on Friday, January 12th. BTIG Research began coverage on Outset Medical in a research note on Monday, April 8th. They set a “buy” rating and a $6.00 target price on the stock. Finally, CL King upgraded Outset Medical from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Friday, April 5th.

Outset Medical Stock Up 9.6 %

Shares of NASDAQ:OM opened at $2.63 on Tuesday. Outset Medical has a 12-month low of $1.92 and a 12-month high of $24.13. The stock has a market capitalization of $135.97 million, a price-to-earnings ratio of -0.75 and a beta of 1.99. The stock has a fifty day simple moving average of $2.52 and a two-hundred day simple moving average of $3.78. The company has a current ratio of 5.26, a quick ratio of 4.37 and a debt-to-equity ratio of 1.06.

Outset Medical (NASDAQ:OM) last posted its quarterly earnings results on Wednesday, February 21st. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.03). Outset Medical had a negative return on equity of 102.50% and a negative net margin of 132.54%. The company had revenue of $30.51 million during the quarter, compared to analysts’ expectations of $30.40 million. On average, research analysts anticipate that Outset Medical will post -2.28 earnings per share for the current fiscal year.

Institutional Trading of Outset Medical

A number of hedge funds have recently bought and sold shares of OM. Griffin Asset Management Inc. raised its position in Outset Medical by 5.7% in the first quarter. Griffin Asset Management Inc. now owns 97,914 shares of the company’s stock worth $217,000 after acquiring an additional 5,300 shares during the period. Swiss National Bank grew its holdings in Outset Medical by 6.6% during the third quarter. Swiss National Bank now owns 102,800 shares of the company’s stock valued at $1,118,000 after purchasing an additional 6,400 shares during the period. Harbor Capital Advisors Inc. increased its position in Outset Medical by 36.4% in the third quarter. Harbor Capital Advisors Inc. now owns 25,323 shares of the company’s stock worth $276,000 after buying an additional 6,764 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Outset Medical by 1,317.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,790 shares of the company’s stock worth $48,000 after buying an additional 8,170 shares during the period. Finally, Fiera Capital Corp lifted its position in shares of Outset Medical by 2.0% during the 3rd quarter. Fiera Capital Corp now owns 567,476 shares of the company’s stock valued at $6,174,000 after buying an additional 11,272 shares in 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.