Outset Medical, Inc. $OM Shares Sold by GMT Capital Corp

Key Points

• GMT Capital Corp has significantly reduced its stake in Outset Medical by 93.3%, ending up with approximately 98,108 shares worth about $1,085,000 after selling 1,373,598 shares in the first quarter.
• Several institutional investors are actively adjusting their holdings in Outset Medical, with some, like Renaissance Technologies LLC, increasing their stakes by as much as 1,167.7%.
• Outset Medical's stock has recently been rated with an average "Buy" recommendation and a consensus price target of $24.67, although it currently trades around $13.91.

GMT Capital Corp cut its stake in Outset Medical, Inc. (NASDAQ:OM - Free Report) by 93.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,108 shares of the company's stock after selling 1,373,598 shares during the period. GMT Capital Corp owned about 2.73% of Outset Medical worth $1,085,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Asset Management Inc purchased a new stake in Outset Medical in the first quarter valued at $589,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Outset Medical in the first quarter valued at about $9,293,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Outset Medical in the first quarter valued at about $17,730,000. Two Sigma Investments LP raised its holdings in shares of Outset Medical by 36.0% in the fourth quarter. Two Sigma Investments LP now owns 488,602 shares of the company's stock valued at $542,000 after buying an additional 129,334 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Outset Medical in the fourth quarter valued at about $174,000.

Outset Medical Price Performance

OM traded up $0.03 on Wednesday, hitting $13.77. 137,904 shares of the company were exchanged, compared to its average volume of 224,402. The company has a debt-to-equity ratio of 0.63, a quick ratio of 6.05 and a current ratio of 7.47. The business's fifty day moving average is $16.54 and its 200 day moving average is $14.71. Outset Medical, Inc. has a fifty-two week low of $5.85 and a fifty-two week high of $25.35. The firm has a market capitalization of $244.69 million, a P/E ratio of -0.68 and a beta of 2.13.

Wall Street Analysts Forecast Growth

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 report on Monday, July 14th. Wall Street Zen raised shares of Outset Medical from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. Scotiabank raised shares of Outset Medical to a "strong-buy" rating in a report on Thursday, May 15th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $22.00 price target on shares of Outset Medical in a report on Tuesday, August 19th. One research 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 company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target 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.