Massachusetts Financial Services Co. MA Invests $9.29 Million in Outset Medical, Inc. (NASDAQ:OM)

Massachusetts Financial Services Co. MA acquired a new position in shares of 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 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 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Two Sigma Securities LLC boosted its stake in shares of Outset Medical by 190.0% in the 4th quarter. Two Sigma Securities LLC now owns 42,477 shares of the company's stock valued at $47,000 after purchasing an additional 27,830 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Outset Medical in the 4th quarter valued at about $50,000. Two Sigma Investments LP boosted its stake in shares of Outset Medical by 36.0% in the 4th quarter. Two Sigma Investments LP now owns 488,602 shares of the company's stock valued at $542,000 after purchasing an additional 129,334 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Outset Medical in the 4th quarter valued at about $174,000. Finally, Birchview Capital LP boosted its stake in shares of Outset Medical by 3,587.7% in the 4th quarter. Birchview Capital LP now owns 368,766 shares of the company's stock valued at $409,000 after purchasing an additional 358,766 shares during the last quarter.

Outset Medical Stock Down 1.0%

Shares of NASDAQ:OM traded down $0.18 during midday trading on Friday, hitting $17.42. The stock had a trading volume of 319,110 shares, compared to its average volume of 156,677. Outset Medical, Inc. has a 12 month low of $5.85 and a 12 month high of $62.10. The company has a quick ratio of 6.74, a current ratio of 8.37 and a debt-to-equity ratio of 0.57. The business's 50-day simple moving average is $19.29 and its 200-day simple moving average is $14.35. The company has a market cap of $308.72 million, a P/E ratio of -0.60 and a beta of 2.15.

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

Wall Street Analysts Forecast Growth

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

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.