Outset Medical (NASDAQ:OM) Stock Rating Upgraded by Wall Street Zen

Outset Medical (NASDAQ:OM) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other brokerages also recently weighed in on OM. Stifel Nicolaus set a $14.00 price target on shares of Outset Medical and gave the company a “buy” rating in a report on Tuesday, November 11th. BTIG Research reduced their target price on shares of Outset Medical from $39.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Outset Medical in a research note on Monday, December 8th. Finally, Royal Bank Of Canada cut their price target on Outset Medical from $22.00 to $17.00 and set a “sector perform” rating for the company in a report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Outset Medical Stock Down 2.6%

OM opened at $4.18 on Friday. The business has a 50 day moving average of $9.35 and a 200-day moving average of $14.02. The stock has a market capitalization of $75.87 million, a price-to-earnings ratio of -0.32 and a beta of 2.04. The company has a current ratio of 7.09, a quick ratio of 5.77 and a debt-to-equity ratio of 0.69. Outset Medical has a 1-year low of $4.00 and a 1-year high of $25.35.

Institutional Investors Weigh In On Outset Medical

Institutional investors have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. grew its stake in shares of Outset Medical by 10.2% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,614,582 shares of the company’s stock valued at $22,798,000 after purchasing an additional 150,000 shares during the period. Millennium Management LLC grew its position in Outset Medical by 165.8% in the third quarter. Millennium Management LLC now owns 421,409 shares of the company’s stock valued at $5,950,000 after acquiring an additional 262,874 shares during the period. Citadel Advisors LLC grew its position in Outset Medical by 372.8% in the third quarter. Citadel Advisors LLC now owns 96,084 shares of the company’s stock valued at $1,357,000 after acquiring an additional 75,762 shares during the period. Algert Global LLC raised its stake in Outset Medical by 419.8% during the third quarter. Algert Global LLC now owns 72,931 shares of the company’s stock worth $1,030,000 after acquiring an additional 58,901 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Outset Medical by 97.9% during the third quarter. Two Sigma Investments LP now owns 146,598 shares of the company’s stock valued at $2,070,000 after acquiring an additional 72,504 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.