Outset Medical, Inc. $OM Shares Sold by Birchview Capital LP

Key Points

• Birchview Capital LP significantly reduced its holdings in Outset Medical by 93.3%, selling 344,182 shares and now owning only 24,584 shares worth approximately $272,000.
• Several investors, including T. Rowe Price Investment Management Inc. and Massachusetts Financial Services Co., acquired new stakes in Outset Medical, indicating a growing interest among large investors.
• Wall Street analysts have mixed views on Outset Medical, with price targets ranging from $22.00 to $37.00, while the stock currently trades around $13.91.

Birchview Capital LP lowered its stake in Outset Medical, Inc. (NASDAQ:OM - Free Report) by 93.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 24,584 shares of the company's stock after selling 344,182 shares during the quarter. Birchview Capital LP owned 0.68% of Outset Medical worth $272,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Durable Capital Partners LP acquired a new stake in Outset Medical in the 1st quarter valued at $19,247,000. T. Rowe Price Investment Management Inc. acquired a new stake in Outset Medical in the 1st quarter valued at $17,730,000. TD Asset Management Inc acquired a new stake in Outset Medical in the 1st quarter valued at $589,000. Massachusetts Financial Services Co. MA acquired a new stake in Outset Medical in the 1st quarter valued at $9,293,000. Finally, Squarepoint Ops LLC acquired a new stake in Outset Medical in the 4th quarter valued at $174,000.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OM. Scotiabank raised shares of Outset Medical to a "strong-buy" rating in a research note on Thursday, May 15th. BTIG Research set a $37.00 target price on shares of Outset Medical and gave the stock a "buy" rating in a research note on Monday, July 14th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $22.00 target price on shares of Outset Medical in a research note on Tuesday, August 19th. Finally, Wall Street Zen raised shares of Outset Medical from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Outset Medical has a consensus rating of "Buy" and a consensus price target of $24.67.

Outset Medical Trading Up 4.9%

NASDAQ OM traded up $0.66 during trading on Friday, hitting $14.01. The stock had a trading volume of 83,967 shares, compared to its average volume of 195,405. The company has a market capitalization of $248.96 million, a PE ratio of -0.69 and a beta of 2.13. The company has a quick ratio of 6.05, a current ratio of 7.47 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average price of $16.18 and a 200 day moving average price of $14.71. Outset Medical, Inc. has a twelve month low of $5.85 and a twelve month high of $25.35.

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.