TD Asset Management Inc Acquires New Stake in Outset Medical, Inc. (NASDAQ:OM)

Key Points

• TD Asset Management Inc has acquired a new stake in Outset Medical, Inc., totaling 53,267 shares valued at approximately $589,000, representing about 1.48% ownership at the end of the first quarter.
• Analysts have upgraded Outset Medical's stock, with Scotiabank rating it as a "strong-buy" and a consensus price target of $29.50, indicating positive market sentiment following a recent quarterly report.
• Outset Medical's shares are currently down 5.9%, trading at $14.16, significantly lower than its 12-month high of $53.92 and reporting a negative earnings per share of ($3.66) for the last quarter.

TD Asset Management Inc acquired a new stake in Outset Medical, Inc. (NASDAQ:OM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 53,267 shares of the company's stock, valued at approximately $589,000. TD Asset Management Inc owned about 1.48% of Outset Medical at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Two Sigma Securities LLC increased its holdings in Outset Medical by 190.0% in the 4th quarter. Two Sigma Securities LLC now owns 42,477 shares of the company's stock worth $47,000 after acquiring an additional 27,830 shares during the last quarter. XTX Topco Ltd purchased a new stake in Outset Medical in the 4th quarter worth about $50,000. Two Sigma Investments LP increased 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 acquiring an additional 129,334 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Outset Medical in the 4th quarter worth about $174,000. Finally, Birchview Capital LP grew its holdings in Outset Medical by 3,587.7% during the 4th quarter. Birchview Capital LP now owns 368,766 shares of the company's stock valued at $409,000 after buying an additional 358,766 shares in the last quarter.

Wall Street Analysts Forecast Growth

OM has been the subject of a number of recent analyst reports. Scotiabank raised Outset Medical to a "strong-buy" rating in a report on Thursday, May 15th. Wall Street Zen raised Outset Medical from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. BTIG Research set a $37.00 target price on Outset Medical and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $21.00 target price (up previously from $14.00) on shares of Outset Medical in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Outset Medical presently has an average rating of "Moderate Buy" and a consensus price target of $29.50.

Outset Medical Stock Down 5.9%

Shares of NASDAQ OM opened at $14.16 on Tuesday. Outset Medical, Inc. has a 12 month low of $5.85 and a 12 month high of $53.92. The company has a current ratio of 8.37, a quick ratio of 6.74 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $250.92 million, a price-to-earnings ratio of -0.49 and a beta of 2.14. The business has a 50-day moving average of $19.02 and a 200-day moving average of $14.54.

Outset Medical (NASDAQ:OM - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($3.66) earnings per share for the quarter, missing analysts' consensus estimates of ($0.97) by ($2.69). The firm had revenue of $29.75 million during the quarter, compared to the consensus estimate of $27.81 million. Outset Medical had a negative return on equity of 143.62% and a negative net margin of 98.74%. Sell-side analysts expect that Outset Medical, Inc. will post -1.99 earnings per share for the current fiscal year.

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.

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