Geode Capital Management LLC Has $7.98 Million Stock Holdings in Outset Medical, Inc. $OM

Geode Capital Management LLC grew its position in Outset Medical, Inc. (NASDAQ:OM) by 955.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 415,552 shares of the company’s stock after buying an additional 376,196 shares during the period. Geode Capital Management LLC owned approximately 2.35% of Outset Medical worth $7,984,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in OM. Parkman Healthcare Partners LLC bought a new position in Outset Medical during the first quarter worth about $2,556,000. Woodline Partners LP acquired a new stake in shares of Outset Medical during the first quarter worth about $14,663,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Outset Medical during the 1st quarter valued at about $17,730,000. Alyeska Investment Group L.P. bought a new position in shares of Outset Medical during the 1st quarter valued at about $18,836,000. Finally, Durable Capital Partners LP acquired a new position in shares of Outset Medical in the 1st quarter valued at approximately $19,247,000.

Outset Medical Trading Down 7.0%

Shares of NASDAQ:OM opened at $4.39 on Friday. The company’s 50-day moving average price is $10.34 and its two-hundred day moving average price is $14.58. Outset Medical, Inc. has a one year low of $4.00 and a one year high of $25.35. The company has a debt-to-equity ratio of 0.69, a current ratio of 7.09 and a quick ratio of 5.77. The stock has a market capitalization of $79.68 million, a PE ratio of -0.34 and a beta of 2.03.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OM. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Outset Medical in a research note on Monday. Royal Bank Of Canada cut their price objective on shares of Outset Medical from $22.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 11th. Stifel Nicolaus set a $14.00 target price on Outset Medical and gave the stock a “buy” rating in a report on Tuesday, November 11th. Wall Street Zen lowered Outset Medical from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Finally, BTIG Research reduced their price objective on Outset Medical from $39.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

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.