Bank of New York Mellon Corp trimmed its holdings in shares of Outset Medical, Inc. (NASDAQ:OM – Free Report) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 945,931 shares of the company’s stock after selling 7,611 shares during the quarter. Bank of New York Mellon Corp’s holdings in Outset Medical were worth $20,687,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Bellevue Group AG boosted its stake in shares of Outset Medical by 259.8% in the 1st quarter. Bellevue Group AG now owns 2,017,159 shares of the company’s stock valued at $91,579,000 after purchasing an additional 1,456,553 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Outset Medical by 424.1% during the first quarter. Ameriprise Financial Inc. now owns 937,183 shares of the company’s stock worth $17,244,000 after purchasing an additional 758,359 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Outset Medical by 18.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,849,061 shares of the company’s stock worth $42,337,000 after purchasing an additional 433,637 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Outset Medical by 9.4% in the first quarter. JPMorgan Chase & Co. now owns 4,939,023 shares of the company’s stock valued at $90,879,000 after buying an additional 422,562 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its holdings in Outset Medical by 10.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,519,870 shares of the company’s stock valued at $90,884,000 after buying an additional 346,744 shares during the last quarter.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on OM shares. Bank of America reiterated an “underperform” rating and set a $3.00 price target (down previously from $32.00) on shares of Outset Medical in a report on Friday, October 13th. Stifel Nicolaus decreased their price objective on shares of Outset Medical from $26.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, October 13th. Morgan Stanley dropped their target price on shares of Outset Medical from $22.00 to $19.00 and set an “equal weight” rating on the stock in a report on Thursday, August 24th. CL King began coverage on Outset Medical in a research note on Thursday, August 17th. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada dropped their price target on Outset Medical from $29.00 to $17.00 and set an “outperform” rating on the stock in a research note on Friday, October 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.40.
Outset Medical Stock Performance
Shares of Outset Medical stock opened at $3.68 on Monday. The business has a 50-day simple moving average of $8.13 and a 200 day simple moving average of $15.39. The firm has a market capitalization of $184.77 million, a price-to-earnings ratio of -1.03 and a beta of 1.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 5.35 and a quick ratio of 5.43. Outset Medical, Inc. has a one year low of $2.90 and a one year high of $30.55.
Outset Medical (NASDAQ:OM – Get Free Report) last issued its earnings results on Thursday, October 12th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.03. Outset Medical had a negative return on equity of 88.10% and a negative net margin of 133.19%. On average, research analysts anticipate that Outset Medical, Inc. will post -3.3 earnings per share for the current fiscal year.
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.
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