Outset Medical’s (OM) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Outset Medical (NASDAQ:OM)‘s stock had its “sector perform” rating reiterated by investment analysts at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They presently have a $3.00 price target on the stock. Royal Bank of Canada’s price target points to a potential upside of 126.42% from the stock’s current price.

Outset Medical Stock Performance

Shares of NASDAQ:OM traded up $0.06 during trading on Tuesday, hitting $1.33. 472,821 shares of the stock were exchanged, compared to its average volume of 2,400,747. The company has a market capitalization of $69.62 million, a price-to-earnings ratio of -0.48 and a beta of 2.05. The company has a debt-to-equity ratio of 4.12, a quick ratio of 5.04 and a current ratio of 6.49. The company’s fifty day simple moving average is $0.97 and its 200-day simple moving average is $1.53. Outset Medical has a 1-year low of $0.44 and a 1-year high of $5.67.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of OM. Millennium Management LLC raised its holdings in shares of Outset Medical by 58.8% in the second quarter. Millennium Management LLC now owns 1,942,899 shares of the company’s stock valued at $7,480,000 after buying an additional 719,412 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Outset Medical by 118.5% in the second 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. GSA Capital Partners LLP lifted its position in Outset Medical by 924.7% during the 3rd quarter. GSA Capital Partners LLP now owns 1,111,612 shares of the company’s stock valued at $753,000 after purchasing an additional 1,003,135 shares during the period. Acadian Asset Management LLC boosted its stake in shares of 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 purchasing an additional 40,321 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of Outset Medical by 487.8% during the 2nd quarter. Marshall Wace LLP now owns 314,187 shares of the company’s stock worth $1,210,000 after buying an additional 260,740 shares during the period.

About Outset Medical

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.