Outset Medical’s (OM) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of Outset Medical (NASDAQ:OM) in a research note released on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a $3.00 price objective on the stock.

Outset Medical Trading Down 13.4 %

Shares of OM stock opened at $1.10 on Tuesday. Outset Medical has a 1 year low of $0.44 and a 1 year high of $5.67. The firm has a fifty day moving average price of $0.98 and a 200-day moving average price of $1.50. The company has a market cap of $57.80 million, a price-to-earnings ratio of -0.40 and a beta of 2.05. The company has a debt-to-equity ratio of 4.12, a current ratio of 6.49 and a quick ratio of 5.04.

Institutional Investors Weigh In On Outset Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Outset Medical in the second quarter worth $49,000. Ground Swell Capital LLC purchased a new stake in Outset Medical in the 2nd quarter worth $49,000. National Bank of Canada FI raised its holdings in Outset Medical by 79.2% during the third quarter. National Bank of Canada FI now owns 52,407 shares of the company’s stock valued at $35,000 after acquiring an additional 23,164 shares during the period. Huntington National Bank boosted its stake in shares of Outset Medical by 46.2% in the third quarter. Huntington National Bank now owns 63,306 shares of the company’s stock worth $43,000 after acquiring an additional 20,000 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Outset Medical in the 2nd quarter worth approximately $259,000.

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.