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

Royal Bank of Canada reissued their sector perform rating on shares of Outset Medical (NASDAQ:OM) in a research report released on Tuesday,Benzinga reports. The brokerage currently has a $3.00 price objective on the stock.

Outset Medical Price Performance

Shares of Outset Medical stock opened at $0.98 on Tuesday. Outset Medical has a 1-year low of $0.44 and a 1-year high of $5.27. The firm has a fifty day simple moving average of $1.00 and a 200-day simple moving average of $1.50. The company has a current ratio of 6.49, a quick ratio of 5.04 and a debt-to-equity ratio of 4.12. The stock has a market capitalization of $51.49 million, a price-to-earnings ratio of -0.36 and a beta of 2.05.

Hedge Funds Weigh In On Outset Medical

Large investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Outset Medical during the 2nd quarter worth approximately $49,000. Ground Swell Capital LLC bought a new position in Outset Medical in the second quarter worth $49,000. National Bank of Canada FI boosted its stake in Outset Medical by 79.2% during the third quarter. National Bank of Canada FI now owns 52,407 shares of the company’s stock worth $35,000 after buying an additional 23,164 shares in the last quarter. Huntington National Bank increased its holdings in Outset Medical by 46.2% in the 3rd quarter. Huntington National Bank now owns 63,306 shares of the company’s stock valued at $43,000 after buying an additional 20,000 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Outset Medical in the 2nd quarter valued at $259,000.

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.