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

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

Outset Medical Price Performance

Shares of NASDAQ:OM opened at $0.98 on Tuesday. The stock’s 50 day moving average price is $1.00 and its 200 day moving average price is $1.50. The company has a debt-to-equity ratio of 4.12, a current ratio of 6.49 and a quick ratio of 5.04. The stock has a market cap of $51.49 million, a price-to-earnings ratio of -0.36 and a beta of 2.05. Outset Medical has a 12 month low of $0.44 and a 12 month high of $5.27.

Hedge Funds Weigh In On Outset Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OM. Los Angeles Capital Management LLC purchased a new stake in shares of Outset Medical in the second quarter worth approximately $731,000. Acadian Asset Management LLC lifted 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 worth $3,154,000 after buying an additional 40,321 shares in the last quarter. Ground Swell Capital LLC acquired a new stake in shares of Outset Medical during the 2nd quarter valued at $49,000. Massachusetts Financial Services Co. MA grew 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 in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position 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.