TD Asset Management Inc Invests $589,000 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 shares of Outset Medical, Inc. (NASDAQ:OM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 53,267 shares of the company's stock, valued at approximately $589,000. TD Asset Management Inc owned approximately 1.48% of Outset Medical at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Two Sigma Securities LLC grew its holdings in shares of Outset Medical by 190.0% in the fourth quarter. Two Sigma Securities LLC now owns 42,477 shares of the company's stock valued at $47,000 after purchasing an additional 27,830 shares during the period. XTX Topco Ltd acquired a new position in Outset Medical in the 4th quarter valued at about $50,000. Squarepoint Ops LLC purchased a new stake in shares of Outset Medical in the 4th quarter valued at approximately $174,000. Birchview Capital LP increased its holdings in shares of Outset Medical by 3,587.7% during 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. Finally, Two Sigma Investments LP increased its holdings in shares of Outset Medical by 36.0% during 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.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OM. BTIG Research set a $37.00 price objective on Outset Medical and gave the company a "buy" rating in a report on Monday, July 14th. Scotiabank upgraded Outset Medical to a "strong-buy" rating in a research report on Thursday, May 15th. Royal Bank Of Canada upped their price target on Outset Medical from $21.00 to $22.00 and gave the company a "sector perform" rating in a research note on Thursday. Finally, Wall Street Zen raised Outset Medical from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Two investment 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 company's stock. According to MarketBeat.com, Outset Medical presently has an average rating of "Moderate Buy" and an average target price of $29.75.

Outset Medical Trading Down 8.7%

Shares of NASDAQ:OM traded down $1.24 during mid-day trading on Friday, reaching $12.94. 219,388 shares of the company were exchanged, compared to its average volume of 226,506. Outset Medical, Inc. has a 1 year low of $5.85 and a 1 year high of $25.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 8.37 and a quick ratio of 6.74. The firm's 50-day simple moving average is $18.73 and its 200 day simple moving average is $14.54. The firm has a market cap of $229.30 million, a price-to-earnings ratio of -0.64 and a beta of 2.14.

Outset Medical (NASDAQ:OM - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($3.66) EPS for the quarter, missing the consensus estimate of ($0.97) by ($2.69). Outset Medical had a negative return on equity of 118.59% and a negative net margin of 82.06%. The firm had revenue of $29.75 million for the quarter, compared to analysts' expectations of $27.81 million. Equities research analysts forecast that Outset Medical, Inc. will post -1.99 EPS for the current year.

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.