Outset Medical (NASDAQ:OM) Receives “Sector Perform” Rating from Royal Bank of Canada

Outset Medical (NASDAQ:OM)‘s stock had its “sector perform” rating reissued by analysts at Royal Bank of Canada in a research note issued on Wednesday, Marketbeat.com reports. They presently have a $21.00 price target on the stock, up from their previous price target of $14.00. Royal Bank of Canada’s price target would indicate a potential upside of 13.70% from the company’s previous close.

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

Outset Medical Trading Down 0.7%

NASDAQ:OM opened at $18.47 on Wednesday. Outset Medical has a twelve month low of $5.85 and a twelve month high of $72.60. The company has a quick ratio of 5.04, a current ratio of 6.49 and a debt-to-equity ratio of 4.12. The business has a 50 day moving average price of $12.41 and a two-hundred day moving average price of $13.06. The company has a market cap of $66.40 million, a P/E ratio of -7.45 and a beta of 1.90.

Outset Medical (NASDAQ:OM) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($3.66) earnings per share 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 for the quarter, compared to analyst estimates of $27.81 million. As a group, analysts expect that Outset Medical will post -1.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Outset Medical

Institutional investors and hedge funds have recently made changes to their positions in the stock. Two Sigma Securities LLC raised its stake in shares of Outset Medical by 190.0% during the 4th quarter. Two Sigma Securities LLC now owns 42,477 shares of the company’s stock worth $47,000 after purchasing an additional 27,830 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Outset Medical during the 4th quarter worth approximately $50,000. Squarepoint Ops LLC bought a new stake in shares of Outset Medical during the 4th quarter worth approximately $174,000. Birchview Capital LP raised its stake in shares of 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 purchasing an additional 358,766 shares in the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of 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 purchasing an additional 129,334 shares in the last quarter.

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.