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

Outset Medical, Inc. (NASDAQ:OM) has been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research 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 twelve-month price objective among brokers that have issued a report on the stock in the last year is $4.64.

A number of analysts have issued reports on the company. TD Cowen decreased their price target on Outset Medical from $9.00 to $3.00 and set a “buy” rating on the stock 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 reduced their price target for the company from $6.00 to $3.00 in a research report on Thursday, August 8th.

Outset Medical Trading Up 2.1 %

Shares of OM opened at $0.53 on Friday. The company has a debt-to-equity ratio of 2.87, a current ratio of 6.80 and a quick ratio of 5.38. Outset Medical has a 1-year low of $0.44 and a 1-year high of $11.22. The stock has a market cap of $27.50 million, a price-to-earnings ratio of -0.16 and a beta of 1.92. The firm has a 50 day simple moving average of $1.47 and a 200-day simple moving average of $2.62.

Outset Medical (NASDAQ:OM) last released its quarterly 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 return on equity of 143.52% and a negative net margin of 136.72%. The company had revenue of $27.39 million for the quarter, compared to analysts’ expectations of $31.19 million. During the same period in the previous year, the business posted ($0.90) EPS. Equities analysts forecast that Outset Medical will post -2.52 EPS for the current fiscal year.

Institutional Trading of Outset Medical

Hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Outset Medical during the second quarter worth about $259,000. Point72 Asset Management L.P. purchased a new stake in Outset Medical during the 2nd quarter worth approximately $827,000. Millennium Management LLC raised its position in shares of Outset Medical by 58.8% in the 2nd quarter. Millennium Management LLC now owns 1,942,899 shares of the company’s stock valued at $7,480,000 after purchasing an additional 719,412 shares in the last quarter. Squarepoint Ops LLC boosted its stake 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 during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in shares of Outset Medical by 228.3% during the second quarter. Cubist Systematic Strategies LLC now owns 200,939 shares of the company’s stock worth $774,000 after buying an additional 139,740 shares in the last quarter.

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.