Outset Medical, Inc. (NASDAQ:OM) Stock Has Average Target Price of $10.00 According to Brokerages

Outset Medical, Inc. (NASDAQ:OM) has been given a consensus rating of “Hold” by the five ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $10.00.

Several research analysts have recently issued reports on OM shares. Wall Street Zen raised Outset Medical from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings cut shares of Outset Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st.

Outset Medical Trading Down 0.5%

NASDAQ:OM opened at $4.08 on Tuesday. The firm has a market capitalization of $76.70 million, a P/E ratio of -1.00 and a beta of 1.99. The business has a 50 day simple moving average of $3.74 and a 200 day simple moving average of $4.17. Outset Medical has a 12-month low of $2.84 and a 12-month high of $14.87. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.19 and a quick ratio of 4.11.

Outset Medical (NASDAQ:OM) last posted its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.08). Outset Medical had a negative net margin of 63.06% and a negative return on equity of 61.67%. The firm had revenue of $31.64 million for the quarter, compared to analyst estimates of $28.97 million. Equities research analysts predict that Outset Medical will post -3.81 EPS for the current year.

Institutional Trading of Outset Medical

Institutional investors have recently made changes to their positions in the stock. BML Capital Management LLC grew its stake in shares of Outset Medical by 250.2% in the 1st quarter. BML Capital Management LLC now owns 1,902,201 shares of the company’s stock worth $7,304,000 after purchasing an additional 1,359,021 shares during the last quarter. Renaissance Technologies LLC grew its position in Outset Medical by 391.3% in the first quarter. Renaissance Technologies LLC now owns 222,075 shares of the company’s stock worth $853,000 after buying an additional 176,870 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Outset Medical by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 62,360 shares of the company’s stock valued at $239,000 after buying an additional 2,435 shares in the last quarter. Marquette Asset Management LLC bought a new position in shares of Outset Medical in the second quarter valued at $212,000. Finally, Sei Investments Co. lifted its position in shares of Outset Medical by 15.5% during the 1st quarter. Sei Investments Co. now owns 35,366 shares of the company’s stock valued at $136,000 after acquiring an additional 4,738 shares during the last quarter.

Outset Medical Company Profile

Outset Medical, Inc is a medical technology company that develops products for hemodialysis, a treatment that filters waste and excess fluid from the blood when the kidneys are no longer able to do so adequately. The company’s primary product is the Tablo Hemodialysis System, an integrated dialysis platform designed to simplify treatment for healthcare providers and support broader use of dialysis in hospitals, outpatient facilities and the home.

The Tablo system combines dialysis delivery, water purification and dialysate production in a single device and uses a touchscreen interface intended to guide users through treatment setup and operation.