Outset Medical, Inc. (NASDAQ:OM) Given Average Rating of “Hold” by Analysts

Outset Medical, Inc. (NASDAQ:OM) has earned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $4.64.

A number of research analysts recently commented on OM shares. Royal Bank of Canada downgraded Outset Medical from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $6.00 to $3.00 in a research note on Thursday, August 8th. TD Cowen lowered their target price on Outset Medical from $9.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 8th.

Insider Transactions at Outset Medical

In related news, Director D Keith Grossman sold 38,117 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 47,805 shares in the company, valued at $180,702.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.50% of the company’s stock.

Institutional Trading of Outset Medical

Several institutional investors have recently added to or reduced their stakes in OM. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Outset Medical during the 2nd quarter worth approximately $259,000. Squarepoint Ops LLC raised its position in shares of Outset Medical by 74.1% during the second quarter. Squarepoint Ops LLC now owns 80,300 shares of the company’s stock worth $309,000 after purchasing an additional 34,187 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of Outset Medical by 228.3% during the second quarter. Cubist Systematic Strategies LLC now owns 200,939 shares of the company’s stock worth $774,000 after purchasing an additional 139,740 shares during the period. Marshall Wace LLP raised its position in shares of Outset Medical by 487.8% during the second quarter. Marshall Wace LLP now owns 314,187 shares of the company’s stock worth $1,210,000 after purchasing an additional 260,740 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Outset Medical during the second quarter worth approximately $49,000.

Outset Medical Stock Down 4.3 %

OM stock opened at $0.83 on Thursday. The company has a market cap of $43.08 million, a PE ratio of -0.25 and a beta of 2.00. The business has a 50-day simple moving average of $3.63 and a 200 day simple moving average of $3.19. Outset Medical has a 52 week low of $0.82 and a 52 week high of $16.13. The company has a quick ratio of 5.32, a current ratio of 6.42 and a debt-to-equity ratio of 2.11.

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.