Royal Bank of Canada Increases Outset Medical (NASDAQ:OM) Price Target to $14.00

Outset Medical (NASDAQ:OM) had its price target hoisted by Royal Bank of Canada from $12.00 to $14.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential downside of 8.50% from the stock’s current price.

Separately, Stifel Nicolaus set a $15.00 price target on shares of Outset Medical in a research note on Friday, March 21st.

Outset Medical Price Performance

OM stock opened at $15.30 on Thursday. Outset Medical has a 1 year low of $5.85 and a 1 year high of $72.60. The stock has a market capitalization of $55.00 million, a PE ratio of -6.17 and a beta of 1.90. The company’s 50-day moving average is $10.67 and its 200-day moving average is $12.43. The company has a debt-to-equity ratio of 4.12, a current ratio of 6.49 and a quick ratio of 5.04.

Outset Medical (NASDAQ:OM) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($3.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($2.69). The firm had revenue of $29.75 million during the quarter, compared to the consensus estimate of $27.81 million. Outset Medical had a negative return on equity of 175.64% and a negative net margin of 112.57%. Equities research analysts expect that Outset Medical will post -1.99 EPS for the current fiscal year.

Institutional Trading of Outset Medical

Several institutional investors and hedge funds have recently modified their holdings of OM. TD Asset Management Inc bought a new position in shares of Outset Medical during the first quarter valued at about $589,000. Massachusetts Financial Services Co. MA bought a new stake in Outset Medical in the 1st quarter worth about $9,293,000. Squarepoint Ops LLC purchased a new stake in Outset Medical in the 4th quarter valued at about $174,000. Two Sigma Investments LP lifted its position in shares of Outset Medical by 36.0% during the 4th quarter. Two Sigma Investments LP now owns 488,602 shares of the company’s stock worth $542,000 after buying an additional 129,334 shares in the last quarter. Finally, Birchview Capital LP boosted its stake in shares of Outset Medical by 3,587.7% in the 4th quarter. Birchview Capital LP now owns 368,766 shares of the company’s stock worth $409,000 after buying an additional 358,766 shares during 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.