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. acquired a new stake in shares of Outset Medical, Inc. (NASDAQ:OM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,703,083 shares of the company's stock, valued at approximately $18,836,000. Alyeska Investment Group L.P. owned approximately 47.37% of Outset Medical at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of OM. Squarepoint Ops LLC acquired a new position in Outset Medical in the fourth quarter valued at about $174,000. Two Sigma Investments LP lifted its stake 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 acquiring an additional 129,334 shares during the last quarter. TD Asset Management Inc purchased a new position in Outset Medical in the first quarter valued at $589,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Outset Medical during the 1st quarter worth about $9,293,000. Finally, T. Rowe Price Investment Management Inc. acquired a new position in shares of Outset Medical in the 1st quarter valued at $17,730,000.

Outset Medical Trading Up 4.9%

Shares of OM traded up $0.66 during midday trading on Friday, hitting $14.01. The company had a trading volume of 83,967 shares, compared to its average volume of 176,805. The company's 50 day moving average price is $16.18 and its 200 day moving average price is $14.71. Outset Medical, Inc. has a 52 week low of $5.85 and a 52 week high of $25.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 7.47 and a quick ratio of 6.05.

Analysts Set New Price Targets

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

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.