Outset Medical (NASDAQ:OM) Upgraded by Royal Bank of Canada to “Outperform”

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

Other equities research analysts also recently issued research reports about the company. BTIG Research initiated coverage on Outset Medical in a report on Monday, April 8th. They set a buy rating and a $6.00 price target for the company. CL King upgraded Outset Medical from a neutral rating to a buy rating and set a $6.00 price target for the company in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $5.42.

Outset Medical Trading Up 1.4 %

NASDAQ OM opened at $4.39 on Friday. The company has a market cap of $227.05 million, a price-to-earnings ratio of -1.35 and a beta of 2.00. Outset Medical has a 52 week low of $1.92 and a 52 week high of $22.47. The business has a 50 day moving average price of $3.41 and a 200-day moving average price of $3.60. The company has a quick ratio of 5.32, a current ratio of 6.42 and a debt-to-equity ratio of 2.11.

Outset Medical (NASDAQ:OM) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.13). The firm had revenue of $28.17 million for the quarter, compared to the consensus estimate of $30.55 million. Outset Medical had a negative net margin of 134.93% and a negative return on equity of 120.67%. As a group, equities analysts expect that Outset Medical will post -2.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Outset Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in OM. Swiss National Bank raised its stake in shares of Outset Medical by 6.6% during the 3rd quarter. Swiss National Bank now owns 102,800 shares of the company’s stock valued at $1,118,000 after purchasing an additional 6,400 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Outset Medical by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 382,372 shares of the company’s stock valued at $4,160,000 after purchasing an additional 13,829 shares during the period. HighTower Advisors LLC raised its stake in shares of Outset Medical by 41.6% during the 3rd quarter. HighTower Advisors LLC now owns 84,364 shares of the company’s stock valued at $916,000 after purchasing an additional 24,792 shares during the period. FMR LLC raised its stake in shares of Outset Medical by 1.1% during the 3rd quarter. FMR LLC now owns 7,468,531 shares of the company’s stock valued at $81,258,000 after purchasing an additional 84,320 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Outset Medical during the 3rd quarter valued at $175,000.

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.