Outset Medical price target lowered to $9 from $32 at TD Cowen

TD Cowen lowered the firm’s price target on Outset Medical to $9 from $32 and keeps a Market Perform rating on the shares. The firm noted growth in 3Q was tempered by a larger-than-expected impact from the recent FDA warning letter and by early signs of a more cautious outlook on capital spending that the company sees as a headwind continuing through 4Q.