840,248 Shares in Outset Medical, Inc. (NASDAQ:OM) Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA acquired a new stake in Outset Medical, Inc. (NASDAQ:OM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 840,248 shares of the company's stock, valued at approximately $9,293,000. Massachusetts Financial Services Co. MA owned about 23.37% of Outset Medical at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Renaissance Technologies LLC increased its stake in Outset Medical by 1,167.7% during the 4th quarter. Renaissance Technologies LLC now owns 686,748 shares of the company's stock worth $762,000 after buying an additional 632,574 shares in the last quarter. Birchview Capital LP increased its stake in Outset Medical by 3,587.7% during the 4th quarter. Birchview Capital LP now owns 368,766 shares of the company's stock worth $409,000 after buying an additional 358,766 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Outset Medical during the 4th quarter worth approximately $174,000. Two Sigma Investments LP increased its stake in 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 buying an additional 129,334 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Outset Medical during the 4th quarter worth approximately $50,000.

Analyst Ratings Changes

A number of brokerages have recently commented on OM. BTIG Research set a $37.00 target price on shares of Outset Medical and gave the company a "buy" rating in a research report on Monday, July 14th. Scotiabank upgraded shares of Outset Medical to a "strong-buy" rating in a research report on Thursday, May 15th. Wall Street Zen upgraded shares of Outset Medical from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $21.00 price objective (up from $14.00) on shares of Outset Medical in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Outset Medical presently has an average rating of "Moderate Buy" and an average price target of $29.50.

Outset Medical Stock Up 2.6%

Shares of NASDAQ:OM traded up $0.49 during trading on Wednesday, hitting $19.44. 393,988 shares of the company were exchanged, compared to its average volume of 159,783. The stock has a market capitalization of $344.48 million, a P/E ratio of -0.67 and a beta of 2.15. The company has a debt-to-equity ratio of 0.57, a current ratio of 8.37 and a quick ratio of 6.74. Outset Medical, Inc. has a 12-month low of $5.85 and a 12-month high of $62.10. The firm's 50 day moving average price is $19.37 and its 200-day moving average price is $14.37.

Outset Medical (NASDAQ:OM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($3.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($2.69). Outset Medical had a negative return on equity of 143.62% and a negative net margin of 98.74%. The firm had revenue of $29.75 million for the quarter, compared to analysts' expectations of $27.81 million. On average, research analysts predict that Outset Medical, Inc. will post -1.99 earnings per share for the current fiscal year.

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.