Outset Medical, Inc. (NASDAQ:OM) Shares Bought by Squarepoint Ops LLC

Squarepoint Ops LLC lifted its stake in shares of Outset Medical, Inc. (NASDAQ:OM) by 74.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,300 shares of the company’s stock after acquiring an additional 34,187 shares during the period. Squarepoint Ops LLC owned 0.16% of Outset Medical worth $309,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OM. Cubist Systematic Strategies LLC grew its stake in Outset Medical by 228.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 200,939 shares of the company’s stock worth $774,000 after acquiring an additional 139,740 shares during the period. Marshall Wace LLP increased its stake in Outset Medical by 487.8% in the second quarter. Marshall Wace LLP now owns 314,187 shares of the company’s stock valued at $1,210,000 after purchasing an additional 260,740 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in Outset Medical during the second quarter worth about $49,000. Massachusetts Financial Services Co. MA lifted its position in Outset Medical by 118.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,538,859 shares of the company’s stock worth $5,925,000 after buying an additional 834,663 shares during the period. Finally, Ground Swell Capital LLC acquired a new stake in Outset Medical in the 2nd quarter worth about $49,000.

Outset Medical Stock Down 0.8 %

Shares of NASDAQ:OM opened at $0.60 on Friday. Outset Medical, Inc. has a 12-month low of $0.44 and a 12-month high of $7.61. The company has a current ratio of 6.80, a quick ratio of 5.38 and a debt-to-equity ratio of 2.87. The firm has a market cap of $31.49 million, a PE ratio of -0.19 and a beta of 1.94. The company has a fifty day simple moving average of $0.79 and a 200 day simple moving average of $2.49.

Outset Medical (NASDAQ:OM) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.66) earnings per share 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 firm had revenue of $27.39 million during the quarter, compared to the consensus estimate of $31.19 million. During the same period in the prior year, the firm earned ($0.90) earnings per share. On average, equities research analysts anticipate that Outset Medical, Inc. will post -2.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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 dropped their price objective for the stock from $6.00 to $3.00 in a report on Thursday, August 8th. TD Cowen dropped 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. One investment 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’s stock. According to MarketBeat, Outset Medical currently has an average rating of “Hold” and an average price target of $4.64.

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.