Outset Medical (NASDAQ:OM) Price Target Raised to $22.00 at Morgan Stanley

Outset Medical (NASDAQ:OMGet Rating) had its price objective raised by Morgan Stanley from $20.00 to $22.00 in a report published on Tuesday morning, Marketbeat Ratings reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research firms also recently commented on OM. Cowen decreased their target price on Outset Medical from $60.00 to $33.00 in a report on Tuesday, June 14th. Cowen decreased their target price on Outset Medical from $60.00 to $33.00 and set an outperform rating for the company in a report on Tuesday, June 14th. Finally, Stifel Nicolaus decreased their target price on Outset Medical from $30.00 to $24.00 in a report on Monday, July 18th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $29.20.

Outset Medical Price Performance

Shares of NASDAQ OM opened at $19.08 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.84 and a current ratio of 6.26. The company has a market cap of $911.91 million, a PE ratio of -5.93 and a beta of 2.13. The business has a 50-day simple moving average of $17.58 and a two-hundred day simple moving average of $30.76. Outset Medical has a fifty-two week low of $13.25 and a fifty-two week high of $60.33.

Outset Medical (NASDAQ:OMGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported ($0.78) earnings per share for the quarter, hitting the consensus estimate of ($0.78). The business had revenue of $30.55 million during the quarter, compared to the consensus estimate of $30.35 million. Outset Medical had a negative return on equity of 42.37% and a negative net margin of 138.48%. As a group, equities analysts expect that Outset Medical will post -3.32 EPS for the current fiscal year.

Insider Activity at Outset Medical

In related news, COO Martin Vazquez sold 5,000 shares of Outset Medical stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $21.42, for a total transaction of $107,100.00. Following the completion of the transaction, the chief operating officer now directly owns 49,237 shares in the company, valued at $1,054,656.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Leslie Trigg sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $20.00, for a total value of $600,000.00. Following the completion of the sale, the chief executive officer now directly owns 292,073 shares in the company, valued at $5,841,460. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Martin Vazquez sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $21.42, for a total value of $107,100.00. Following the completion of the sale, the chief operating officer now owns 49,237 shares of the company’s stock, valued at $1,054,656.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,685 shares of company stock worth $1,611,302. 4.00% of the stock is owned by corporate insiders.

Institutional Trading of Outset Medical

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Holdings Inc. increased its position in shares of Outset Medical by 253.6% during the fourth quarter. Advisor Group Holdings Inc. now owns 1,326 shares of the company’s stock worth $61,000 after purchasing an additional 951 shares in the last quarter. Assetmark Inc. increased its position in shares of Outset Medical by 387.1% during the second quarter. Assetmark Inc. now owns 1,812 shares of the company’s stock worth $27,000 after purchasing an additional 1,440 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Outset Medical by 139.5% during the second quarter. Nisa Investment Advisors LLC now owns 2,060 shares of the company’s stock worth $31,000 after purchasing an additional 1,200 shares in the last quarter. US Bancorp DE increased its position in shares of Outset Medical by 286.7% during the first quarter. US Bancorp DE now owns 2,711 shares of the company’s stock worth $123,000 after purchasing an additional 2,010 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new position in Outset Medical during the first quarter worth $226,000.

Outset Medical Company Profile

(Get Rating)

Outset Medical, Inc, a medical technology company, develops a hemodialysis system for dialysis. It provides the Tablo Hemodialysis System, which comprises a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings.

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