Acadian Asset Management LLC Sells 917,184 Shares of Outset Medical, Inc. $OM

Key Points

• Acadian Asset Management LLC reduced its holdings in Outset Medical by 91.1% during the 1st quarter, selling 917,184 shares and now owning approximately 89,299 shares.
• Outset Medical's stock has a current price target range from $22.00 to $37.00 according to recent analyst ratings, with an average consensus target of $24.67.
• The company's stock recently traded at $14.17, with a 1-year low of $5.85 and a 1-year high of $25.35.

Acadian Asset Management LLC cut its stake in shares of Outset Medical, Inc. (NASDAQ:OM - Free Report) by 91.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,299 shares of the company's stock after selling 917,184 shares during the period. Acadian Asset Management LLC owned approximately 2.48% of Outset Medical worth $985,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of OM. Durable Capital Partners LP acquired a new position in Outset Medical during the first quarter valued at $19,247,000. Alyeska Investment Group L.P. acquired a new position in Outset Medical during the first quarter valued at $18,836,000. T. Rowe Price Investment Management Inc. acquired a new position in Outset Medical during the first quarter valued at $17,730,000. Woodline Partners LP acquired a new position in Outset Medical during the first quarter valued at $14,663,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in Outset Medical in the 1st quarter worth about $9,293,000.

Analyst Ratings Changes

Several brokerages have weighed in on OM. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $22.00 target price on shares of Outset Medical in a research report on Tuesday, August 19th. Wall Street Zen raised Outset Medical from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, BTIG Research set a $37.00 target price on Outset Medical and gave the stock a "buy" rating in a research report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $24.67.

Outset Medical Price Performance

OM traded up $0.01 during trading on Friday, hitting $14.18. 299,547 shares of the stock traded hands, compared to its average volume of 155,865. Outset Medical, Inc. has a twelve month low of $5.85 and a twelve month high of $25.35. The company has a market cap of $251.98 million, a price-to-earnings ratio of -0.70 and a beta of 2.14. The company has a debt-to-equity ratio of 0.63, a current ratio of 7.47 and a quick ratio of 6.05. The business has a 50 day moving average price of $14.89 and a 200 day moving average price of $14.91.

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.