Outset Medical (NASDAQ:OM) Upgraded by Wall Street Zen to "Hold" Rating

Outset Medical (NASDAQ:OM - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada reissued a "sector perform" rating and set a $21.00 price target (up from $14.00) on shares of Outset Medical in a research note on Wednesday, May 21st. Stifel Nicolaus set a $15.00 price target on shares of Outset Medical in a research note on Friday, March 21st. Finally, Scotiabank raised shares of Outset Medical to a "strong-buy" rating in a research note on Thursday, May 15th.

Outset Medical Trading Up 4.3%

Shares of OM opened at $20.93 on Friday. The firm's 50 day simple moving average is $14.19 and its 200 day simple moving average is $13.61. The company has a market capitalization of $370.92 million, a P/E ratio of -8.44 and a beta of 2.14. The company has a debt-to-equity ratio of 4.12, a current ratio of 6.49 and a quick ratio of 5.04. Outset Medical has a 1-year low of $5.85 and a 1-year high of $72.60.

Outset Medical (NASDAQ:OM - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($3.66) earnings per share for the quarter, missing analysts' consensus estimates of ($0.97) by ($2.69). The company had revenue of $29.75 million during the quarter, compared to analysts' expectations of $27.81 million. Outset Medical had a negative net margin of 112.57% and a negative return on equity of 175.64%. Sell-side analysts forecast that Outset Medical will post -1.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Securities LLC increased its position in Outset Medical by 190.0% during the 4th quarter. Two Sigma Securities LLC now owns 42,477 shares of the company's stock valued at $47,000 after purchasing an additional 27,830 shares during the period. XTX Topco Ltd purchased a new position in Outset Medical during the 4th quarter valued at $50,000. Squarepoint Ops LLC purchased a new position in Outset Medical during the 4th quarter valued at $174,000. Birchview Capital LP increased its position in Outset Medical by 3,587.7% during the 4th quarter. Birchview Capital LP now owns 368,766 shares of the company's stock valued at $409,000 after purchasing an additional 358,766 shares during the period. Finally, Two Sigma Investments LP increased its position in Outset Medical by 36.0% during the 4th quarter. Two Sigma Investments LP now owns 488,602 shares of the company's stock valued at $542,000 after purchasing 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.

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