Outset Medical (NASDAQ:OM) Given New $17.00 Price Target at Royal Bank Of Canada

Outset Medical (NASDAQ:OM) had its price objective cut by stock analysts at Royal Bank Of Canada from $22.00 to $17.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 156.84% from the company’s current price.

A number of other analysts also recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Outset Medical in a research report on Wednesday, October 8th. BTIG Research cut their target price on Outset Medical from $39.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Stifel Nicolaus set a $14.00 target price on Outset Medical in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.00.

Outset Medical Stock Performance

Outset Medical stock traded down $5.45 during mid-day trading on Tuesday, reaching $6.62. The company had a trading volume of 1,526,018 shares, compared to its average volume of 226,664. The company has a quick ratio of 6.05, a current ratio of 7.47 and a debt-to-equity ratio of 0.63. The firm has a market cap of $117.62 million, a price-to-earnings ratio of -0.31 and a beta of 2.14. The company has a 50 day moving average of $13.94 and a 200-day moving average of $15.89. Outset Medical has a 52 week low of $5.60 and a 52 week high of $25.35.

Outset Medical (NASDAQ:OM) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.34). Outset Medical had a negative net margin of 82.06% and a negative return on equity of 97.17%. The company had revenue of $29.43 million for the quarter, compared to analyst estimates of $30.69 million. Outset Medical has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Outset Medical will post -1.99 EPS for the current fiscal year.

Institutional Trading of Outset Medical

Several institutional investors have recently bought and sold shares of OM. Legal & General Group Plc acquired a new position in Outset Medical during the second quarter worth $34,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Outset Medical in the 2nd quarter valued at $35,000. BNP Paribas Financial Markets grew its holdings in shares of Outset Medical by 7,013.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,063 shares of the company’s stock worth $40,000 after purchasing an additional 2,034 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Outset Medical during the 2nd quarter worth about $78,000. Finally, New York State Common Retirement Fund bought a new position in Outset Medical during the 2nd quarter valued at about $108,000.

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.