Brokerages Set Outset Medical, Inc. (NASDAQ:OM) Target Price at $5.42

Outset Medical, Inc. (NASDAQ:OM) has been given a consensus recommendation of “Hold” by the six research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $5.42.

A number of analysts recently weighed in on the stock. CL King raised shares of Outset Medical from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Friday, April 5th. Royal Bank of Canada cut Outset Medical from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $14.00 to $6.00 in a report on Friday, January 12th. Finally, BTIG Research assumed coverage on Outset Medical in a research note on Monday, April 8th. They issued a “buy” rating and a $6.00 target price for the company.

Outset Medical Stock Performance

Shares of OM stock opened at $3.79 on Tuesday. Outset Medical has a 52 week low of $1.92 and a 52 week high of $24.13. The company has a quick ratio of 4.37, a current ratio of 5.26 and a debt-to-equity ratio of 1.06. The firm’s 50-day simple moving average is $2.48 and its two-hundred day simple moving average is $3.75.

Outset Medical (NASDAQ:OM) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.03). Outset Medical had a negative net margin of 132.54% and a negative return on equity of 102.50%. The business had revenue of $30.51 million for the quarter, compared to analysts’ expectations of $30.40 million. On average, equities research analysts forecast that Outset Medical will post -2.28 earnings per share for the current year.

Hedge Funds Weigh In On Outset Medical

Several hedge funds and other institutional investors have recently modified their holdings of OM. Nisa Investment Advisors LLC lifted its stake in Outset Medical by 1,317.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,790 shares of the company’s stock worth $48,000 after acquiring an additional 8,170 shares during the period. RPO LLC purchased a new stake in Outset Medical in the fourth quarter worth about $76,000. Valeo Financial Advisors LLC bought a new stake in Outset Medical during the 4th quarter valued at approximately $117,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Outset Medical during the 4th quarter worth approximately $161,000. Finally, Versor Investments LP bought a new position in shares of Outset Medical in the 3rd quarter worth approximately $172,000.

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.