Outset Medical (NASDAQ:OM) Given Sector Perform Rating at Royal Bank Of Canada

Key Points

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Outset Medical (NASDAQ:OM - Get Free Report)'s stock had its "sector perform" rating restated by equities researchers at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $22.00 target price on the stock. Royal Bank Of Canada's target price suggests a potential upside of 62.18% from the stock's previous close.

A number of other equities analysts have also commented on the company. BTIG Research set a $37.00 price target on Outset Medical and gave the company a "buy" rating in a research note on Monday, July 14th. Scotiabank upgraded Outset Medical to a "strong-buy" rating in a report on Thursday, May 15th. Finally, Wall Street Zen upgraded Outset Medical from a "sell" rating to a "hold" rating in a report on Saturday, June 7th.

Outset Medical Stock Performance

OM traded down $0.11 during midday trading on Tuesday, reaching $13.57. The company had a trading volume of 10,825 shares, compared to its average volume of 226,845. The company has a quick ratio of 6.05, a current ratio of 7.47 and a debt-to-equity ratio of 0.63. Outset Medical has a 1 year low of $5.85 and a 1 year high of $25.35. The business has a 50-day moving average of $17.82 and a two-hundred day moving average of $14.60. The company has a market cap of $241.05 million, a P/E ratio of -0.67 and a beta of 2.14.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc acquired a new stake in shares of Outset Medical during the second quarter worth about $34,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Outset Medical during the second quarter worth about $35,000. BNP Paribas Financial Markets raised its holdings in Outset Medical by 7,013.8% in the second quarter. BNP Paribas Financial Markets now owns 2,063 shares of the company's stock valued at $40,000 after acquiring an additional 2,034 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in Outset Medical in the second quarter valued at approximately $78,000. Finally, New York State Common Retirement Fund acquired a new stake in Outset Medical in the second quarter valued at approximately $108,000.

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.

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