Los Angeles Capital Management LLC Buys New Position in Outset Medical, Inc. (NASDAQ:OM)

Los Angeles Capital Management LLC purchased a new position in shares of Outset Medical, Inc. (NASDAQ:OM) in the second quarter, HoldingsChannel reports. The fund purchased 189,780 shares of the company’s stock, valued at approximately $731,000.

Other hedge funds also recently made changes to their positions in the company. Mubadala Investment Co PJSC acquired a new position in Outset Medical during the fourth quarter worth $7,794,000. PFM Health Sciences LP acquired a new position in shares of Outset Medical during the 4th quarter worth about $5,406,000. Acadian Asset Management LLC grew its holdings in shares of Outset Medical by 369.4% in the 1st quarter. Acadian Asset Management LLC now owns 779,242 shares of the company’s stock valued at $1,728,000 after acquiring an additional 613,229 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Outset Medical by 60.4% in the second quarter. Assenagon Asset Management S.A. now owns 1,515,126 shares of the company’s stock valued at $5,833,000 after acquiring an additional 570,281 shares during the last quarter. Finally, GSA Capital Partners LLP raised its holdings in Outset Medical by 508.9% during the fourth quarter. GSA Capital Partners LLP now owns 514,317 shares of the company’s stock worth $2,782,000 after acquiring an additional 429,851 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on OM shares. TD Cowen decreased their price target on Outset Medical from $9.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada cut shares of Outset Medical from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $6.00 to $3.00 in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.64.

Outset Medical Price Performance

NASDAQ:OM opened at $0.53 on Friday. Outset Medical, Inc. has a 12-month low of $0.44 and a 12-month high of $13.20. The firm has a market capitalization of $27.41 million, a price-to-earnings ratio of -0.16 and a beta of 1.92. The stock’s 50 day moving average price is $2.12 and its two-hundred day moving average price is $2.78. The company has a quick ratio of 5.38, a current ratio of 6.80 and a debt-to-equity ratio of 2.87.

Outset Medical (NASDAQ:OM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $31.19 million. During the same period in the prior year, the business earned ($0.90) EPS. On average, analysts anticipate that Outset Medical, Inc. will post -2.52 earnings per share for the current year.

About Outset Medical

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.