Outset Medical, Inc. (NASDAQ:OM) Receives $4.64 Consensus Target Price from Analysts

Outset Medical, Inc. (NASDAQ:OM) has been assigned an average recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $4.64.

A number of research firms have recently issued reports on OM. TD Cowen cut their target price on shares of Outset Medical from $9.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada cut shares of Outset Medical from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $6.00 to $3.00 in a research report on Thursday, August 8th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC bought a new position in shares of Outset Medical during the 2nd quarter worth approximately $49,000. Ground Swell Capital LLC acquired a new position in shares of Outset Medical in the second quarter valued at about $49,000. State Board of Administration of Florida Retirement System grew its position in shares of Outset Medical by 33.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,842 shares of the company’s stock worth $42,000 after purchasing an additional 4,720 shares in the last quarter. Summit Securities Group LLC bought a new position in Outset Medical during the 2nd quarter worth $105,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Outset Medical in the second quarter worth $259,000.

Outset Medical Stock Down 6.7 %

NASDAQ OM opened at $0.63 on Friday. Outset Medical has a twelve month low of $0.44 and a twelve month high of $10.77. The stock has a market cap of $32.91 million, a PE ratio of -0.19 and a beta of 1.92. The firm has a 50-day simple moving average of $1.28 and a 200 day simple moving average of $2.58. The company has a debt-to-equity ratio of 2.87, a quick ratio of 5.38 and a current ratio of 6.80.

Outset Medical (NASDAQ:OM) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.07). The business had revenue of $27.39 million for the quarter, compared to the consensus estimate of $31.19 million. Outset Medical had a negative return on equity of 143.52% and a negative net margin of 136.72%. During the same period in the previous year, the business posted ($0.90) earnings per share. On average, research analysts forecast that Outset Medical will post -2.52 EPS for the current 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.