BTIG analyst Marie Thibault lowered the firm’s price target on Outset Medical (OM) to $17 from $39 and keeps a Buy rating on the shares. The company’s Q3 revenue of $29.4M fell short of the consensus estimate as Consumables revenue of $12.2M was below consensus of $14.7M, the analyst tells investors in a research note. The firm adds it is surprised by the shortfall as it viewed the guidance as relatively conservative following a strong Q2 print that included an uptick in Console revenue.
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