Parkman Healthcare Partners LLC Makes New Investment in Outset Medical, Inc. $OM

Key Points

• Parkman Healthcare Partners LLC purchased 231,099 shares of Outset Medical, valued at approximately $2.56 million, making up 6.43% of the company's stock as of their latest SEC filing.
• Analyst ratings for Outset Medical vary, with one noting a shift from a "sell" to a "hold" rating, while another firm has rated it as a "strong-buy".
• Outset Medical's stock price is currently around $14.01, well below its one-year high of $25.35, with a market capitalization of $248.96 million.

Parkman Healthcare Partners LLC purchased a new stake in Outset Medical, Inc. (NASDAQ:OM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 231,099 shares of the company's stock, valued at approximately $2,556,000. Parkman Healthcare Partners LLC owned 6.43% of Outset Medical as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of OM. Durable Capital Partners LP acquired a new position in Outset Medical in the 1st quarter valued at $19,247,000. Alyeska Investment Group L.P. acquired a new stake in shares of Outset Medical in the first quarter valued at about $18,836,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Outset Medical in the first quarter worth about $17,730,000. Massachusetts Financial Services Co. MA bought a new position in shares of Outset Medical in the first quarter worth about $9,293,000. Finally, Two Sigma Investments LP lifted its position in shares of Outset Medical by 36.0% during the 4th quarter. Two Sigma Investments LP now owns 488,602 shares of the company's stock worth $542,000 after purchasing an additional 129,334 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on OM. Scotiabank raised Outset Medical to a "strong-buy" rating in a research report on Thursday, May 15th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $22.00 target price on shares of Outset Medical in a research report on Tuesday, August 19th. BTIG Research set a $37.00 target price on shares of Outset Medical and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Wall Street Zen upgraded shares of Outset Medical from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Outset Medical currently has an average rating of "Buy" and a consensus price target of $24.67.

Outset Medical Stock Performance

OM stock traded up $0.61 during midday trading on Thursday, hitting $14.15. The stock had a trading volume of 301,000 shares, compared to its average volume of 222,083. The firm has a market capitalization of $251.45 million, a price-to-earnings ratio of -0.70 and a beta of 2.13. Outset Medical, Inc. has a 52 week low of $5.85 and a 52 week high of $25.35. The stock has a 50-day simple moving average of $15.80 and a 200 day simple moving average of $14.70. The company has a current ratio of 7.47, a quick ratio of 6.05 and a debt-to-equity ratio of 0.63.

Outset Medical 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.