Outset Medical (NASDAQ:OM) Upgraded at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Outset Medical (NASDAQ:OM) from a sector perform rating to an outperform rating in a research note released on Friday morning, MarketBeat.com reports. They currently have $6.00 target price on the stock, up from their prior target price of $5.00.

Other analysts have also issued reports about the company. 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. CL King raised shares of Outset Medical from a neutral rating to a buy rating and set a $6.00 price target on the stock in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Outset Medical presently has a consensus rating of Moderate Buy and a consensus target price of $5.42.

Outset Medical Stock Up 20.6 %

Shares of OM stock opened at $4.33 on Friday. Outset Medical has a one year low of $1.92 and a one year high of $22.47. The company has a debt-to-equity ratio of 2.11, a current ratio of 6.42 and a quick ratio of 5.32. The stock has a fifty day moving average price of $3.41 and a 200 day moving average price of $3.62. The stock has a market cap of $223.95 million, a P/E ratio of -1.28 and a beta of 2.00.

Outset Medical (NASDAQ:OM) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.13). The business had revenue of $28.17 million during the quarter, compared to analyst estimates of $30.55 million. Outset Medical had a negative return on equity of 120.67% and a negative net margin of 134.93%. Analysts predict that Outset Medical will post -2.23 earnings per share for the current year.

Insider Activity at Outset Medical

In other news, Director D Keith Grossman sold 38,117 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $3.78, for a total transaction of $144,082.26. Following the completion of the transaction, the director now directly owns 47,805 shares of the company’s stock, valued at $180,702.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Jean-Olivier Racine sold 8,306 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $3.27, for a total value of $27,160.62. Following the completion of the transaction, the chief technology officer now owns 265,325 shares of the company’s stock, valued at $867,612.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director D Keith Grossman sold 38,117 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $3.78, for a total transaction of $144,082.26. Following the sale, the director now directly owns 47,805 shares in the company, valued at $180,702.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,647 shares of company stock valued at $217,924. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Outset Medical

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mubadala Investment Co PJSC bought a new position in Outset Medical during the fourth quarter worth about $7,794,000. PFM Health Sciences LP acquired a new stake in shares of Outset Medical in the fourth quarter valued at approximately $5,406,000. Braidwell LP boosted its stake in shares of Outset Medical by 64.4% during the 3rd quarter. Braidwell LP now owns 2,400,427 shares of the company’s stock worth $26,117,000 after acquiring an additional 940,059 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Outset Medical by 369.4% during the 1st quarter. Acadian Asset Management LLC now owns 779,242 shares of the company’s stock worth $1,728,000 after acquiring an additional 613,229 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in Outset Medical by 508.9% in the 4th quarter. GSA Capital Partners LLP now owns 514,317 shares of the company’s stock valued at $2,782,000 after acquiring an additional 429,851 shares during the period.

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.