Royal Bank Of Canada Issues Pessimistic Forecast for Outset Medical (NASDAQ:OM) Stock Price

Outset Medical (NASDAQ:OM) had its price target cut by Royal Bank Of Canada from $22.00 to $17.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 206.86% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Outset Medical in a research note on Wednesday, October 8th. Stifel Nicolaus set a $14.00 target price on shares of Outset Medical and gave the stock a “buy” rating in a research note on Tuesday. Finally, BTIG Research dropped their price target on Outset Medical from $39.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat, Outset Medical presently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Outset Medical Stock Performance

NASDAQ OM opened at $5.54 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 7.09 and a quick ratio of 6.05. Outset Medical has a 1-year low of $5.52 and a 1-year high of $25.35. The company has a market cap of $100.55 million, a PE ratio of -0.42 and a beta of 2.14. The stock’s 50 day simple moving average is $13.63 and its 200-day simple moving average is $15.78.

Outset Medical (NASDAQ:OM) last announced its quarterly earnings data 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). Outset Medical had a negative net margin of 73.12% and a negative return on equity of 71.37%. The firm had revenue of $29.43 million during the quarter, compared to analysts’ expectations of $30.69 million. Outset Medical has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Outset Medical will post -1.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Outset Medical

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP acquired a new stake in shares of Outset Medical during the 3rd quarter worth about $474,000. R Squared Ltd purchased a new position in Outset Medical during the third quarter worth about $146,000. JPMorgan Chase & Co. boosted its stake in Outset Medical by 1,276.1% during the third quarter. JPMorgan Chase & Co. now owns 116,306 shares of the company’s stock worth $1,642,000 after buying an additional 107,854 shares during the period. Federated Hermes Inc. increased its position in shares of Outset Medical by 44,416.7% during the third quarter. Federated Hermes Inc. now owns 72,117 shares of the company’s stock valued at $1,018,000 after acquiring an additional 71,955 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Outset Medical in the 3rd quarter valued at approximately $763,000.

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.