Alyeska Investment Group L.P. Makes New $18.84 Million Investment in Outset Medical, Inc. $OM

Key Points

• Alyeska Investment Group L.P. made a new investment of approximately $18.84 million in Outset Medical, acquiring over 1.7 million shares, reflecting a 47.37% ownership stake in the company.
• Outset Medical stock has a current market cap of $237.23 million and has underperformed recently, with shares down 3.1%.
• Analyst ratings for Outset Medical are mixed, with a consensus rating of "Buy" and a target price of about $24.67.

Alyeska Investment Group L.P. purchased a new position in Outset Medical, Inc. (NASDAQ:OM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,703,083 shares of the company's stock, valued at approximately $18,836,000. Alyeska Investment Group L.P. owned about 47.37% of Outset Medical as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Durable Capital Partners LP acquired a new position in Outset Medical in the first quarter worth approximately $19,247,000. T. Rowe Price Investment Management Inc. acquired a new position in Outset Medical in the first quarter worth approximately $17,730,000. Massachusetts Financial Services Co. MA acquired a new position in Outset Medical in the first quarter worth approximately $9,293,000. Two Sigma Investments LP grew its position in Outset Medical by 36.0% in the fourth 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 during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Outset Medical in the fourth quarter worth approximately $174,000.

Analysts Set New Price Targets

Several research firms have weighed in on OM. Royal Bank Of Canada reiterated a "sector perform" rating and set a $22.00 price objective on shares of Outset Medical in a research report on Tuesday, August 19th. BTIG Research set a $37.00 price objective on shares of Outset Medical and gave the stock 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. Finally, Wall Street Zen upgraded shares of Outset Medical from a "sell" rating to a "hold" rating in a 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 issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Outset Medical presently has a consensus rating of "Buy" and an average price target of $24.67.

Outset Medical Stock Down 3.7%

Shares of OM stock traded down $0.53 on Wednesday, hitting $13.66. The company's stock had a trading volume of 19,967 shares, compared to its average volume of 220,927. The company has a debt-to-equity ratio of 0.63, a current ratio of 7.47 and a quick ratio of 6.05. Outset Medical, Inc. has a fifty-two week low of $5.85 and a fifty-two week high of $25.35. The firm's fifty day moving average price is $15.94 and its 200-day moving average price is $14.71. The stock has a market capitalization of $242.68 million, a price-to-earnings ratio of -0.67 and a beta of 2.14.

About Outset Medical

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.