Dimensional Fund Advisors LP Decreases Stock Holdings in Outset Medical, Inc. (NASDAQ:OM)

Dimensional Fund Advisors LP lessened its holdings in Outset Medical, Inc. (NASDAQ:OM) by 23.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 142,290 shares of the company’s stock after selling 42,947 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Outset Medical were worth $548,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OM. Ground Swell Capital LLC purchased a new stake in shares of Outset Medical in the second quarter valued at about $49,000. State Board of Administration of Florida Retirement System raised its stake in Outset Medical by 33.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,842 shares of the company’s stock valued at $42,000 after acquiring an additional 4,720 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Outset Medical during the 2nd quarter worth approximately $105,000. Price T Rowe Associates Inc. MD grew its stake in shares of Outset Medical by 75.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 82,636 shares of the company’s stock valued at $184,000 after purchasing an additional 35,495 shares during the last quarter. Finally, Griffin Asset Management Inc. increased its holdings in shares of Outset Medical by 5.7% in the first quarter. Griffin Asset Management Inc. now owns 97,914 shares of the company’s stock valued at $217,000 after purchasing an additional 5,300 shares during the period.

Outset Medical Stock Performance

Shares of NASDAQ OM opened at $0.60 on Monday. The stock has a market capitalization of $31.27 million, a P/E ratio of -0.18 and a beta of 1.94. The firm’s 50-day moving average price is $0.79 and its two-hundred day moving average price is $2.50. Outset Medical, Inc. has a 52-week low of $0.44 and a 52-week high of $7.61. 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 issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.07). The business had revenue of $27.39 million during the quarter, compared to the consensus estimate of $31.19 million. Outset Medical had a negative return on equity of 143.52% and a negative net margin of 136.72%. During the same period last year, the company earned ($0.90) earnings per share. As a group, sell-side analysts forecast that Outset Medical, Inc. will post -2.52 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on OM. Royal Bank of Canada lowered Outset Medical from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $6.00 to $3.00 in a report on Thursday, August 8th. TD Cowen dropped their price objective on Outset Medical from $9.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.70.

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.