Brokerages Set Outset Medical, Inc. (NASDAQ:OM) Target Price at $10.00

Outset Medical, Inc. (NASDAQ:OM) has been given an average recommendation of “Hold” by the five brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $10.00.

Several research analysts have weighed in on OM shares. TD Cowen reiterated a “buy” rating on shares of Outset Medical in a research report on Friday, May 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Outset Medical in a research report on Wednesday, June 24th. Finally, Wall Street Zen downgraded shares of Outset Medical from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th.

Outset Medical Stock Up 2.4%

Outset Medical stock opened at $4.23 on Friday. The stock has a market cap of $78.42 million, a P/E ratio of -1.02 and a beta of 1.95. The company has a quick ratio of 4.97, a current ratio of 6.29 and a debt-to-equity ratio of 0.87. Outset Medical has a twelve month low of $3.00 and a twelve month high of $19.38. The company’s 50-day moving average price is $4.49 and its two-hundred day moving average price is $4.27.

Outset Medical (NASDAQ:OM) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.04). The firm had revenue of $27.86 million for the quarter, compared to the consensus estimate of $28.90 million. Outset Medical had a negative return on equity of 56.13% and a negative net margin of 63.65%. As a group, analysts expect that Outset Medical will post -3.82 EPS for the current year.

Insider Activity

In other news, CFO Renee Gaeta sold 17,672 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $4.94, for a total transaction of $87,299.68. Following the transaction, the chief financial officer directly owned 113,753 shares of the company’s stock, valued at approximately $561,939.82. This trade represents a 13.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 25,337 shares of company stock worth $115,660. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Outset Medical

A number of hedge funds have recently added to or reduced their stakes in OM. JPMorgan Chase & Co. raised its position in shares of Outset Medical by 662.8% during the second quarter. JPMorgan Chase & Co. now owns 8,452 shares of the company’s stock worth $162,000 after acquiring an additional 7,344 shares during the last quarter. Legal & General Group Plc bought a new stake in Outset Medical in the second quarter valued at approximately $34,000. Rhumbline Advisers bought a new stake in Outset Medical in the second quarter valued at approximately $499,000. New York State Common Retirement Fund acquired a new stake in Outset Medical during the 2nd quarter valued at approximately $108,000. Finally, Quantbot Technologies LP acquired a new stake in Outset Medical during the 2nd quarter valued at approximately $152,000.

About Outset Medical

Outset Medical is a medical technology company specializing in innovations for renal care. The company’s flagship offering, the Tablo Hemodialysis System, is designed to streamline and simplify dialysis treatment across acute and outpatient settings. By integrating water purification, dialysate production, and treatment monitoring into a single device, Tablo aims to reduce the complexity and logistical burden traditionally associated with hemodialysis therapy.

Tablo’s modular design allows for rapid setup and flexible deployment in hospitals, clinics, long‐term care facilities and emergency response scenarios.