Point72 Asset Management L.P. Invests $827,000 in Outset Medical, Inc. (NASDAQ:OM)

Point72 Asset Management L.P. purchased a new stake in Outset Medical, Inc. (NASDAQ:OM) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 214,900 shares of the company’s stock, valued at approximately $827,000. Point72 Asset Management L.P. owned approximately 0.41% of Outset Medical as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of OM. PFM Health Sciences LP purchased a new position in shares of Outset Medical in the fourth quarter valued at approximately $5,406,000. GSA Capital Partners LLP boosted its stake in Outset Medical by 508.9% during the 4th quarter. GSA Capital Partners LLP now owns 514,317 shares of the company’s stock worth $2,782,000 after purchasing an additional 429,851 shares during the last quarter. Mubadala Investment Co PJSC purchased a new stake in shares of Outset Medical during the fourth quarter worth $7,794,000. Griffin Asset Management Inc. lifted its stake 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 worth $217,000 after buying an additional 5,300 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in Outset Medical by 33.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 18,842 shares of the company’s stock worth $42,000 after acquiring an additional 4,720 shares during the last quarter.

Outset Medical Trading Down 5.4 %

OM opened at $0.58 on Friday. The stock has a market capitalization of $30.42 million, a PE ratio of -0.17 and a beta of 1.92. Outset Medical, Inc. has a one year low of $0.44 and a one year high of $10.30. The company has a debt-to-equity ratio of 2.87, a quick ratio of 5.38 and a current ratio of 6.80. The business’s 50 day moving average price is $1.15 and its 200 day moving average price is $2.55.

Outset Medical (NASDAQ:OM) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.07). The business had revenue of $27.39 million during 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 last year, the company earned ($0.90) EPS. As a group, equities research analysts expect that Outset Medical, Inc. will post -2.52 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on OM. Royal Bank of Canada downgraded shares of Outset Medical from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $6.00 to $3.00 in a report on Thursday, August 8th. TD Cowen dropped their target price 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 issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Outset Medical currently has an average 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.