California State Teachers Retirement System Cuts Stock Holdings in Outset Medical, Inc. (NASDAQ:OM)

California State Teachers Retirement System reduced its position in Outset Medical, Inc. (NASDAQ:OM) by 1.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,087 shares of the company’s stock after selling 766 shares during the period. California State Teachers Retirement System owned 0.11% of Outset Medical worth $995,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Point72 Hong Kong Ltd acquired a new stake in Outset Medical in the 2nd quarter worth approximately $27,000. Belpointe Asset Management LLC acquired a new stake in Outset Medical in the 4th quarter worth approximately $35,000. Tower Research Capital LLC TRC boosted its stake in Outset Medical by 38.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,016 shares of the company’s stock worth $48,000 after purchasing an additional 837 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Outset Medical in the 4th quarter worth approximately $83,000. Finally, Assetmark Inc. boosted its stake in Outset Medical by 16.3% in the 1st quarter. Assetmark Inc. now owns 4,733 shares of the company’s stock worth $87,000 after purchasing an additional 662 shares in the last quarter.

Wall Street Analyst Weigh In

OM has been the subject of a number of recent analyst reports. Morgan Stanley lowered their target price on shares of Outset Medical from $22.00 to $19.00 and set an “equal weight” rating for the company in a research note on Thursday, August 24th. CL King assumed coverage on shares of Outset Medical in a report on Thursday, August 17th. They issued a “neutral” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $29.00 price objective on shares of Outset Medical in a report on Thursday, August 17th. Finally, 888 reaffirmed a “maintains” rating on shares of Outset Medical in a report on Wednesday, May 31st. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.20.

Outset Medical Stock Up 2.0 %

OM stock opened at $13.88 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 6.34 and a quick ratio of 5.43. The firm’s fifty day simple moving average is $17.80 and its 200-day simple moving average is $19.71. Outset Medical, Inc. has a 12 month low of $11.41 and a 12 month high of $30.55. The company has a market capitalization of $691.09 million, a P/E ratio of -3.95 and a beta of 1.44.

Outset Medical (NASDAQ:OM) last posted its earnings results on Wednesday, August 2nd. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.05). Outset Medical had a negative net margin of 131.69% and a negative return on equity of 73.66%. The firm had revenue of $36.04 million during the quarter, compared to analyst estimates of $35.18 million. As a group, equities research analysts forecast that Outset Medical, Inc. will post -3.42 earnings per share for the current year.

Insider Activity at Outset Medical

In related news, General Counsel John L. Brottem sold 1,414 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $21.97, for a total value of $31,065.58. Following the completion of the transaction, the general counsel now directly owns 58,945 shares in the company, valued at approximately $1,295,021.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Outset Medical news, General Counsel John L. Brottem sold 1,414 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $21.97, for a total transaction of $31,065.58. Following the completion of the transaction, the general counsel now directly owns 58,945 shares in the company, valued at $1,295,021.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel John L. Brottem sold 1,415 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $20.00, for a total transaction of $28,300.00. Following the transaction, the general counsel now owns 58,945 shares of the company’s stock, valued at $1,178,900. The disclosure for this sale can be found here. Insiders sold a total of 23,819 shares of company stock worth $498,849 in the last three months. Company insiders own 4.00% of the company’s stock.

Outset Medical Profile

Outset Medical, Inc, a medical technology company, develops a hemodialysis system for dialysis. It provides the Tablo Hemodialysis System, which comprises a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings.