Outset Medical, Inc. (NASDAQ:OM) Receives Average Rating of “Hold” from Analysts

Outset Medical, Inc. (NASDAQ:OM) has received a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $4.64.

A number of research analysts have issued reports on the company. TD Cowen reduced their price target on 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 reduced their price objective for the stock from $6.00 to $3.00 in a report on Thursday, August 8th.

Institutional Trading of Outset Medical

Hedge funds have recently modified their holdings of the business. State Board of Administration of Florida Retirement System increased its holdings in shares of Outset Medical by 33.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,842 shares of the company’s stock valued at $42,000 after purchasing an additional 4,720 shares during the period. Ground Swell Capital LLC purchased a new stake in Outset Medical in the 2nd quarter worth approximately $49,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Outset Medical during the 2nd quarter valued at $49,000. RPO LLC acquired a new stake in shares of Outset Medical during the 4th quarter valued at $76,000. Finally, Summit Securities Group LLC acquired a new position in shares of Outset Medical in the second quarter worth $105,000.

Outset Medical Price Performance

OM stock opened at $0.53 on Monday. The stock has a 50-day moving average price of $2.81 and a two-hundred day moving average price of $2.97. The company has a market cap of $27.61 million, a PE ratio of -0.16 and a beta of 2.00. 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 $0.52 and a 12-month high of $14.60.

Outset Medical (NASDAQ:OM) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.07). Outset Medical had a negative return on equity of 143.52% and a negative net margin of 136.72%. The business had revenue of $27.39 million for the quarter, compared to analysts’ expectations of $31.19 million. During the same quarter in the prior year, the firm earned ($0.90) earnings per share. As a group, research analysts predict 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.