Acadian Asset Management LLC Grows Stock Position in Outset Medical, Inc. (NASDAQ:OM)

Acadian Asset Management LLC boosted its stake in shares of Outset Medical, Inc. (NASDAQ:OM) by 5.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 819,563 shares of the company’s stock after purchasing an additional 40,321 shares during the quarter. Acadian Asset Management LLC owned approximately 1.58% of Outset Medical worth $3,154,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Mubadala Investment Co PJSC acquired a new stake in shares of Outset Medical in the 4th quarter valued at $7,794,000. PFM Health Sciences LP purchased a new stake in Outset Medical during the 4th quarter worth about $5,406,000. Assenagon Asset Management S.A. boosted its position in shares of Outset Medical by 60.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,515,126 shares of the company’s stock worth $5,833,000 after acquiring an additional 570,281 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Outset Medical by 508.9% in the 4th quarter. GSA Capital Partners LLP now owns 514,317 shares of the company’s stock valued at $2,782,000 after acquiring an additional 429,851 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Outset Medical by 103.7% during the 1st quarter. Lazard Asset Management LLC now owns 523,860 shares of the company’s stock worth $1,162,000 after acquiring an additional 266,717 shares in the last quarter.

Outset Medical Stock Performance

Shares of Outset Medical stock opened at $0.45 on Friday. The firm’s fifty day simple moving average is $2.19 and its 200-day simple moving average is $2.80. Outset Medical, Inc. has a 12 month low of $0.44 and a 12 month high of $13.24. The stock has a market capitalization of $23.30 million, a price-to-earnings ratio of -0.13 and a beta of 1.93. The company has a debt-to-equity ratio of 2.87, a current ratio of 6.80 and a quick ratio of 5.38.

Outset Medical (NASDAQ:OM) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.07). Outset Medical had a negative net margin of 136.72% and a negative return on equity of 143.52%. The business had revenue of $27.39 million during the quarter, compared to analyst estimates of $31.19 million. During the same quarter in the prior year, the firm posted ($0.90) earnings per share. As a group, equities analysts forecast that Outset Medical, Inc. will post -2.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on OM. Royal Bank of Canada lowered shares of Outset Medical from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $6.00 to $3.00 in a research note on Thursday, August 8th. TD Cowen dropped their target price on shares of Outset Medical from $9.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Outset Medical currently has a consensus rating of “Hold” and an average target price of $4.64.

Outset Medical 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.