Outset Medical (NASDAQ:OM) Price Target Cut to $17.00 by Analysts at BTIG Research

Outset Medical (NASDAQ:OM) had its target price reduced by BTIG Research from $39.00 to $17.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Outset Medical in a research report on Wednesday, October 8th. Royal Bank Of Canada restated a “sector perform” rating and issued a $22.00 target price on shares of Outset Medical in a research note on Tuesday, August 19th. Finally, Stifel Nicolaus set a $14.00 price target on shares of Outset Medical and gave the stock a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.00.

Outset Medical Stock Down 48.5%

Shares of OM stock opened at $6.22 on Tuesday. Outset Medical has a 12-month low of $5.60 and a 12-month high of $25.35. The company has a quick ratio of 6.05, a current ratio of 7.47 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average of $13.79 and a 200-day moving average of $15.86. The company has a market capitalization of $110.53 million, a price-to-earnings ratio of -0.48 and a beta of 2.14.

Outset Medical (NASDAQ:OM) last announced its earnings results on Monday, November 10th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.34). The company had revenue of $29.43 million during the quarter, compared to analyst estimates of $30.69 million. Outset Medical had a negative return on equity of 75.10% and a negative net margin of 73.12%. Outset Medical has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Outset Medical will post -1.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Outset Medical

Several hedge funds and other institutional investors have recently made changes to their positions in OM. Legal & General Group Plc bought a new stake in Outset Medical during the second quarter worth $34,000. Ameritas Investment Partners Inc. acquired a new position in shares of Outset Medical during the 2nd quarter worth about $35,000. BNP Paribas Financial Markets raised its holdings in shares of Outset Medical by 7,013.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,063 shares of the company’s stock valued at $40,000 after purchasing an additional 2,034 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new stake in Outset Medical in the 2nd quarter valued at about $78,000. Finally, New York State Common Retirement Fund bought a new position in Outset Medical during the second quarter worth about $108,000.

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.