Outset Medical, Inc. (NASDAQ:OM) Given Average Recommendation of “Hold” by Brokerages

Shares of Outset Medical, Inc. (NASDAQ:OM) have been assigned an average rating of “Hold” from the seven analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $4.64.

Several research firms recently weighed in on OM. TD Cowen reduced their price objective 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. Royal Bank of Canada lowered Outset Medical from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $6.00 to $3.00 in a research report on Thursday, August 8th.

Hedge Funds Weigh In On Outset Medical

Institutional investors have recently modified their holdings of the company. Millennium Management LLC increased its stake 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 worth $7,480,000 after purchasing an additional 719,412 shares during the period. Massachusetts Financial Services Co. MA increased its position in 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 worth $5,925,000 after buying an additional 834,663 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Outset Medical by 60.4% during the second quarter. Assenagon Asset Management S.A. now owns 1,515,126 shares of the company’s stock worth $5,833,000 after buying an additional 570,281 shares during the last quarter. Mubadala Investment Co PJSC acquired a new position in shares of Outset Medical during the fourth quarter worth approximately $7,794,000. Finally, PFM Health Sciences LP bought a new stake in shares of Outset Medical in the fourth quarter valued at approximately $5,406,000.

Outset Medical Trading Down 6.7 %

Shares of NASDAQ OM opened at $0.63 on Friday. The company has a quick ratio of 5.38, a current ratio of 6.80 and a debt-to-equity ratio of 2.87. The stock’s 50 day moving average price is $1.28 and its two-hundred day moving average price is $2.58. Outset Medical has a 52-week low of $0.44 and a 52-week high of $10.77. The stock has a market capitalization of $32.91 million, a P/E ratio of -0.19 and a beta of 1.92.

Outset Medical (NASDAQ:OM) last released 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). Outset Medical had a negative net margin of 136.72% and a negative return on equity of 143.52%. The business had revenue of $27.39 million for the quarter, compared to the consensus estimate of $31.19 million. During the same quarter in the previous year, the firm earned ($0.90) EPS. On average, analysts anticipate that Outset Medical will post -2.52 earnings per share 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.