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

Shares of Outset Medical, Inc. (NASDAQ:OM) have earned an average rating of “Hold” from the seven research firms that are covering the stock, Marketbeat.com reports. One equities research 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 12-month price target among analysts that have covered the stock in the last year is $4.64.

A number of equities research analysts have weighed in on OM shares. Royal Bank of Canada lowered Outset Medical from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $6.00 to $3.00 in a research report on Thursday, August 8th. 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 report on Thursday, August 8th.

Outset Medical Stock Performance

NASDAQ:OM opened at $0.49 on Monday. The stock has a 50-day moving average price of $2.45 and a 200 day moving average price of $2.88. 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 $0.47 and a 12-month high of $13.93. The stock has a market capitalization of $25.30 million, a P/E ratio of -0.14 and a beta of 1.92.

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

Hedge Funds Weigh In On Outset Medical

Several institutional investors have recently made changes to their positions in OM. Point72 Asset Management L.P. purchased a new position in shares of Outset Medical in the 2nd quarter valued at about $827,000. Millennium Management LLC increased its position in shares of Outset Medical by 58.8% in the second quarter. Millennium Management LLC now owns 1,942,899 shares of the company’s stock valued at $7,480,000 after buying an additional 719,412 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Outset Medical during the 2nd quarter valued at approximately $259,000. Squarepoint Ops LLC lifted its position in shares of Outset Medical by 74.1% during the 2nd quarter. Squarepoint Ops LLC now owns 80,300 shares of the company’s stock valued at $309,000 after buying an additional 34,187 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in Outset Medical by 228.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 200,939 shares of the company’s stock valued at $774,000 after acquiring an additional 139,740 shares during the period.

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.