Outset Medical price target lowered to $14 from $17 at Stifel

Stifel lowered the firm’s price target on Outset Medical (OM) to $14 from $17 and keeps a Buy rating on the shares. Softer-than-anticipated Consumable sales performance pushed total revenues below the firm’s and consensus estimate, while the company highlighted their expectation for further delays in enterprise deal timing to continue and therefore lowered full-year guidance by about $7M at the midpoint, or more than the Q3 miss, the analyst tells investors. However, the “strong pipeline argues for better performance ahead,” the analyst contends.