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

Outset Medical (NASDAQ:OM)‘s stock had its “sector perform” rating reaffirmed by Royal Bank of Canada in a report released on Tuesday,Benzinga reports. They currently have a $3.00 price target on the stock. Royal Bank of Canada’s target price points to a potential upside of 206.12% from the stock’s previous close.

Outset Medical Stock Down 10.9 %

Shares of NASDAQ OM opened at $0.98 on Tuesday. The company has a market cap of $51.49 million, a price-to-earnings ratio of -0.36 and a beta of 2.05. The company has a current ratio of 6.49, a quick ratio of 5.04 and a debt-to-equity ratio of 4.12. Outset Medical has a 12 month low of $0.44 and a 12 month high of $5.27. The stock has a 50-day moving average price of $0.99 and a two-hundred day moving average price of $1.50.

Institutional Investors Weigh In On Outset Medical

Hedge funds have recently modified their holdings of the company. Los Angeles Capital Management LLC bought a new stake in shares of Outset Medical during the second quarter worth about $731,000. Acadian Asset Management LLC increased its position in Outset Medical by 5.2% in the 2nd quarter. Acadian Asset Management LLC now owns 819,563 shares of the company’s stock valued at $3,154,000 after acquiring an additional 40,321 shares during the period. Ground Swell Capital LLC bought a new position in shares of Outset Medical during the second quarter valued at $49,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Outset Medical by 118.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,538,859 shares of the company’s stock worth $5,925,000 after purchasing an additional 834,663 shares during the period. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Outset Medical in the second quarter worth $49,000.

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.