Outset Medical (NASDAQ:OM) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Outset Medical (NASDAQ:OM) in a report published on Tuesday,Benzinga reports. The firm currently has a $3.00 price target on the stock.

Outset Medical Trading Down 13.4 %

NASDAQ OM opened at $1.10 on Tuesday. The company has a debt-to-equity ratio of 4.12, a quick ratio of 5.04 and a current ratio of 6.49. Outset Medical has a fifty-two week low of $0.44 and a fifty-two week high of $5.67. The stock has a market cap of $57.80 million, a P/E ratio of -0.40 and a beta of 2.05. The stock has a 50 day simple moving average of $0.98 and a two-hundred day simple moving average of $1.50.

Institutional Investors Weigh In On Outset Medical

Institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP raised its stake in shares of Outset Medical by 924.7% in the third quarter. GSA Capital Partners LLP now owns 1,111,612 shares of the company’s stock worth $753,000 after purchasing an additional 1,003,135 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Outset Medical by 118.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,538,859 shares of the company’s stock valued at $5,925,000 after acquiring an additional 834,663 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Outset Medical by 58.8% during the second quarter. Millennium Management LLC now owns 1,942,899 shares of the company’s stock valued at $7,480,000 after purchasing an additional 719,412 shares during the last quarter. Marshall Wace LLP lifted its position in Outset Medical by 487.8% during the second quarter. Marshall Wace LLP now owns 314,187 shares of the company’s stock valued at $1,210,000 after purchasing an additional 260,740 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in Outset Medical in the second quarter worth approximately $827,000.

Outset Medical Company Profile

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.