UPDATE: RBC Capital Starts Outset Medical Inc. (OM) at Outperform

RBC Capital analyst Shagun Singh initiates coverage on Outset Medical Inc. (NASDAQ: OM) with a Outperform rating and a price target of $23.00.

The analyst comments "OM is a medical device company that offers a disruptive, firstof-its-kind technology designed to reduce cost and complexity of dialysis - a $11B U.S. TAM for the treatment of kidney failure. In our view, OM is significantly undervalued given the opportunities ahead. It is poised to deliver 3-year and 5-year revenue CAGRs of 46% and 39%, which is among the highest in MedTech, and is poised to benefit from major healthcare tailwinds i.e. shift to the home aided by reimbursement. We initiate with an Outperform rating and $23 PT, which we view as a reasonable next stop."

For an analyst ratings summary and ratings history on Outset Medical Inc. click here. For more ratings news on Outset Medical Inc. click here.

Shares of Outset Medical Inc. closed at $17.51 yesterday.

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