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

Outset Medical, Inc. (NASDAQ:OM) has been given an average recommendation of “Hold” by the seven analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $4.64.

A number of equities research analysts have recently commented on OM shares. TD Cowen reduced 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 report on Thursday, August 8th. Royal Bank of Canada downgraded shares of Outset Medical from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $6.00 to $3.00 in a report on Thursday, August 8th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Mubadala Investment Co PJSC acquired a new position in Outset Medical during the fourth quarter worth $7,794,000. PFM Health Sciences LP purchased a new position in shares of Outset Medical in the 4th quarter valued at about $5,406,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Outset Medical by 118.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,538,859 shares of the company’s stock valued at $5,925,000 after purchasing an additional 834,663 shares in the last quarter. Millennium Management LLC boosted its holdings in Outset Medical by 58.8% during the second quarter. Millennium Management LLC now owns 1,942,899 shares of the company’s stock worth $7,480,000 after buying an additional 719,412 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Outset Medical by 369.4% during the first quarter. Acadian Asset Management LLC now owns 779,242 shares of the company’s stock worth $1,728,000 after buying an additional 613,229 shares in the last quarter.

Outset Medical Price Performance

NASDAQ OM opened at $0.61 on Friday. The firm’s fifty day simple moving average is $1.41 and its two-hundred day simple moving average is $2.60. The firm has a market capitalization of $31.94 million, a P/E ratio of -0.18 and a beta of 1.92. The company has a current ratio of 6.80, a quick ratio of 5.38 and a debt-to-equity ratio of 2.87. Outset Medical has a 12-month low of $0.44 and a 12-month high of $11.11.

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

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.