National Bank of Canada FI Cuts Stock Holdings in Outset Medical, Inc. $OM

Key Points

• National Bank of Canada FI significantly reduced its stake in Outset Medical by 64.8%, now holding about 0.49% of the company worth $195,000 after selling 32,442 shares.
• Several hedge funds have recently increased their positions in Outset Medical, with Birchview Capital LP notably raising its stake by 3,587.7%, acquiring 368,766 shares.
• Analysts have varied outlooks on Outset Medical, with some firms setting target prices as high as $37.00 and rating the stock from "sell" to "strong-buy."

National Bank of Canada FI lessened its holdings in Outset Medical, Inc. (NASDAQ:OM - Free Report) by 64.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,602 shares of the company's stock after selling 32,442 shares during the period. National Bank of Canada FI owned about 0.49% of Outset Medical worth $195,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. TD Asset Management Inc purchased a new position in shares of Outset Medical in the 1st quarter valued at about $589,000. Massachusetts Financial Services Co. MA acquired a new stake in Outset Medical in the 1st quarter worth about $9,293,000. Squarepoint Ops LLC acquired a new stake in Outset Medical in the 4th quarter worth about $174,000. Two Sigma Investments LP boosted its holdings in Outset Medical by 36.0% in the 4th 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, Birchview Capital LP boosted its holdings in Outset Medical by 3,587.7% in the 4th quarter. Birchview Capital LP now owns 368,766 shares of the company's stock worth $409,000 after buying an additional 358,766 shares during the last quarter.

Outset Medical Trading Up 2.8%

OM traded up $0.3830 during trading hours on Friday, reaching $14.0530. The company's stock had a trading volume of 46,632 shares, compared to its average volume of 225,079. Outset Medical, Inc. has a fifty-two week low of $5.85 and a fifty-two week high of $25.35. The stock has a market cap of $249.72 million, a PE ratio of -0.69 and a beta of 2.14. The business's 50-day moving average is $17.40 and its 200-day moving average is $14.60. 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

Several research analysts have recently weighed in on OM shares. BTIG Research set a $37.00 target price on Outset Medical and gave the stock a "buy" rating in a report on Monday, July 14th. Wall Street Zen upgraded Outset Medical from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Royal Bank Of Canada restated a "sector perform" rating and issued a $22.00 price target on shares of Outset Medical in a research report on Tuesday. Finally, Scotiabank upgraded Outset Medical to a "strong-buy" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $24.67.

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.