Outset Medical, Inc. (NASDAQ:OM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of Outset Medical, Inc. (NASDAQ:OM) by 35.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 495,376 shares of the company’s stock after selling 276,155 shares during the quarter. Bank of New York Mellon Corp’s holdings in Outset Medical were worth $1,907,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in Outset Medical during the fourth quarter worth about $264,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Outset Medical during the fourth quarter worth about $161,000. RPO LLC acquired a new position in shares of Outset Medical during the fourth quarter worth about $76,000. PFM Health Sciences LP acquired a new position in shares of Outset Medical during the fourth quarter worth about $5,406,000. Finally, GSA Capital Partners LLP grew its position in shares of 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 buying an additional 429,851 shares in the last quarter.

Outset Medical Trading Up 1.6 %

Shares of OM stock opened at $0.53 on Wednesday. Outset Medical, Inc. has a fifty-two week low of $0.44 and a fifty-two week high of $12.45. The stock has a market cap of $27.66 million, a P/E ratio of -0.16 and a beta of 1.92. The business has a fifty day simple moving average of $1.99 and a 200-day simple moving average of $2.73. 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 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). The company had revenue of $27.39 million for the quarter, compared to analyst estimates of $31.19 million. Outset Medical had a negative net margin of 136.72% and a negative return on equity of 143.52%. During the same period in the previous year, the business earned ($0.90) EPS. On average, analysts forecast that Outset Medical, Inc. will post -2.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

OM has been the subject of a number of research analyst reports. Royal Bank of Canada downgraded Outset Medical from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $6.00 to $3.00 in a report on Thursday, August 8th. TD Cowen decreased their price objective on Outset Medical from $9.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $4.64.

Outset Medical Company 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.