Royal Bank Of Canada Reaffirms "Sector Perform" Rating for Outset Medical (NASDAQ:OM)

Key Points

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Royal Bank Of Canada restated their sector perform rating on shares of Outset Medical (NASDAQ:OM - Free Report) in a research note released on Tuesday,Benzinga reports. They currently have a $22.00 price target on the stock.

A number of other analysts have also recently weighed in on the stock. BTIG Research set a $37.00 price objective on shares of Outset Medical and gave the stock a "buy" rating in a report on Monday, July 14th. Wall Street Zen upgraded shares of Outset Medical from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, Scotiabank upgraded shares of Outset Medical to a "strong-buy" rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $24.67.

Outset Medical Stock Up 3.9%

Outset Medical stock traded up $0.53 during trading on Tuesday, reaching $14.20. The stock had a trading volume of 280,746 shares, compared to its average volume of 319,857. 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 52-week low of $5.85 and a 52-week high of $25.35. The business has a 50 day moving average price of $17.29 and a 200 day moving average price of $14.63. The stock has a market cap of $252.33 million, a PE ratio of -0.70 and a beta of 2.14.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OM. Renaissance Technologies LLC lifted its holdings in shares of Outset Medical by 1,167.7% during the 4th quarter. Renaissance Technologies LLC now owns 686,748 shares of the company's stock worth $762,000 after acquiring an additional 632,574 shares during the period. XTX Topco Ltd purchased a new position in Outset Medical in the fourth quarter valued at approximately $50,000. Two Sigma Securities LLC raised its holdings in Outset Medical by 190.0% in the fourth quarter. Two Sigma Securities LLC now owns 42,477 shares of the company's stock valued at $47,000 after buying an additional 27,830 shares during the period. Birchview Capital LP raised its holdings in Outset Medical by 3,587.7% in the fourth quarter. Birchview Capital LP now owns 368,766 shares of the company's stock valued at $409,000 after buying an additional 358,766 shares during the period. Finally, Two Sigma Investments LP raised its holdings in Outset Medical by 36.0% in the fourth quarter. Two Sigma Investments LP now owns 488,602 shares of the company's stock valued at $542,000 after buying an additional 129,334 shares during the period.

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.