Royal Bank Of Canada Cuts Outset Medical (NASDAQ:OM) Price Target to $17.00

Outset Medical (NASDAQ:OM) had its target price decreased by Royal Bank Of Canada from $22.00 to $17.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

OM has been the subject of several other reports. Stifel Nicolaus set a $14.00 target price on Outset Medical and gave the stock a “buy” rating in a research note on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Outset Medical in a report on Wednesday, October 8th. Finally, BTIG Research reduced their price objective on Outset Medical from $39.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Outset Medical Stock Performance

Shares of Outset Medical stock opened at $4.90 on Tuesday. The company has a current ratio of 7.09, a quick ratio of 6.05 and a debt-to-equity ratio of 0.69. The company has a market cap of $88.94 million, a PE ratio of -0.38 and a beta of 2.14. The company has a 50 day moving average of $13.46 and a 200-day moving average of $15.71. Outset Medical has a 1-year low of $4.90 and a 1-year high of $25.35.

Institutional Investors Weigh In On Outset Medical

Several hedge funds have recently modified their holdings of the company. Legal & General Group Plc bought a new position in Outset Medical in the second quarter valued at about $34,000. Ameritas Investment Partners Inc. bought a new stake in shares of Outset Medical during the second quarter worth about $35,000. BNP Paribas Financial Markets increased its stake in shares of 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 buying an additional 2,034 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new position in Outset Medical in the 2nd quarter valued at approximately $78,000. Finally, New York State Common Retirement Fund bought a new position in Outset Medical in the 2nd 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.