Analysts Set Outset Medical, Inc. (NASDAQ:OM) Target Price at $56.50


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Shares of Outset Medical, Inc. (NASDAQ:OM) have been assigned an average recommendation of “Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $56.50.

A number of equities research analysts have recently commented on the company. Morgan Stanley lifted their target price on Outset Medical from $52.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 16th. Zacks Investment Research cut Outset Medical from a “buy” rating to a “hold” rating in a research note on Friday, April 2nd. Finally, Oppenheimer assumed coverage on Outset Medical in a research note on Wednesday, December 16th. They issued a “market perform” rating on the stock.

In related news, CEO Leslie Trigg sold 57,500 shares of the company’s stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $55.39, for a total transaction of $3,184,925.00. Following the completion of the transaction, the chief executive officer now owns 274,424 shares in the company, valued at $15,200,345.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Martin Vazquez sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $55.05, for a total value of $1,238,625.00. Following the transaction, the chief operating officer now owns 21,971 shares of the company’s stock, valued at approximately $1,209,503.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,819 shares of company stock valued at $5,568,597.

Several institutional investors have recently made changes to their positions in OM. BlackRock Inc. bought a new position in Outset Medical in the third quarter worth $1,192,000. JPMorgan Chase & Co. bought a new position in Outset Medical in the third quarter worth $16,524,000. UBS Asset Management Americas Inc. bought a new position in Outset Medical in the third quarter worth $1,105,000. Morgan Stanley bought a new position in Outset Medical in the third quarter worth $12,337,000. Finally, Vestcor Inc bought a new position in Outset Medical in the third quarter worth $50,000. Institutional investors own 84.63% of the company’s stock.

Shares of NASDAQ:OM traded up $0.57 during mid-day trading on Monday, hitting $54.63. The company had a trading volume of 852 shares, compared to its average volume of 286,655. The firm has a fifty day moving average price of $51.23 and a 200 day moving average price of $53.81. The company has a debt-to-equity ratio of 0.08, a quick ratio of 10.77 and a current ratio of 11.13. Outset Medical has a one year low of $42.50 and a one year high of $66.96.

Outset Medical (NASDAQ:OM) last posted its quarterly earnings results on Monday, March 8th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.09). The company had revenue of $17.25 million for the quarter, compared to analyst estimates of $13.79 million. As a group, sell-side analysts anticipate that Outset Medical will post -9.61 EPS for the current year.

About Outset Medical

Outset Medical, Inc, a medical technology company, develops a hemodialysis system for dialysis. It offers Tablo, a dialysis machine that enables dialysis care in acute and chronic settings. The Tablo comprises a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities.

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Analyst Recommendations for Outset Medical (NASDAQ:OM)

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