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

Outset Medical (NASDAQ:OM)‘s stock had its “sector perform” rating reissued by stock analysts at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They presently have a $3.00 price objective on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 126.42% from the stock’s current price.

Outset Medical Stock Up 4.3 %

Shares of NASDAQ:OM traded up $0.06 during midday trading on Tuesday, hitting $1.33. 472,821 shares of the stock were exchanged, compared to its average volume of 2,400,747. The company has a market capitalization of $69.62 million, a PE ratio of -0.48 and a beta of 2.05. Outset Medical has a 52-week low of $0.44 and a 52-week high of $5.67. The company has a debt-to-equity ratio of 4.12, a quick ratio of 5.04 and a current ratio of 6.49. The business’s fifty day simple moving average is $0.97 and its two-hundred day simple moving average is $1.53.

Institutional Trading of Outset Medical

A number of institutional investors have recently added to or reduced their stakes in OM. Vanguard Personalized Indexing Management LLC bought a new stake in Outset Medical during the second quarter worth approximately $49,000. Ground Swell Capital LLC bought a new stake in shares of Outset Medical during the 2nd quarter worth $49,000. Huntington National Bank grew its stake in Outset Medical by 46.2% in the 3rd quarter. Huntington National Bank now owns 63,306 shares of the company’s stock valued at $43,000 after buying an additional 20,000 shares during the last quarter. National Bank of Canada FI raised its holdings in Outset Medical by 79.2% in the 3rd quarter. National Bank of Canada FI now owns 52,407 shares of the company’s stock worth $35,000 after acquiring an additional 23,164 shares during the period. Finally, Squarepoint Ops LLC lifted its position in Outset Medical by 74.1% during the 2nd quarter. Squarepoint Ops LLC now owns 80,300 shares of the company’s stock worth $309,000 after acquiring an additional 34,187 shares during the last quarter.

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.