1,325,784 Shares in Outset Medical, Inc. $OM Acquired by Woodline Partners LP

Key Points

• Woodline Partners LP has acquired a new stake in Outset Medical, purchasing 1,325,784 shares valued at approximately $14.66 million, representing about 36.88% ownership of the company.
• Multiple institutional investors also invested in Outset Medical, with Durable Capital Partners leading with a new stake worth $19.25 million during the first quarter.
• Outset Medical's stock is currently underperforming, having recently dropped 4.6% and trading at $13.54, down from a one-year high of $25.35.

Woodline Partners LP acquired a new stake in Outset Medical, Inc. (NASDAQ:OM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,325,784 shares of the company's stock, valued at approximately $14,663,000. Woodline Partners LP owned approximately 36.88% of Outset Medical as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of OM. Parkman Healthcare Partners LLC acquired a new position in Outset Medical during the first quarter worth about $2,556,000. TD Asset Management Inc acquired a new position in shares of Outset Medical in the 1st quarter worth approximately $589,000. Alyeska Investment Group L.P. acquired a new position in shares of Outset Medical in the 1st quarter worth approximately $18,836,000. Massachusetts Financial Services Co. MA purchased a new stake in Outset Medical during the 1st quarter worth approximately $9,293,000. Finally, Durable Capital Partners LP purchased a new stake in Outset Medical during the 1st quarter worth approximately $19,247,000.

Outset Medical Trading Up 2.0%

Shares of NASDAQ OM traded up $0.27 during midday trading on Tuesday, reaching $13.99. 21,289 shares of the stock were exchanged, compared to its average volume of 219,443. The company has a market capitalization of $248.56 million, a P/E ratio of -0.69 and a beta of 2.13. Outset Medical, Inc. has a 52-week low of $5.85 and a 52-week high of $25.35. The company has a current ratio of 7.47, a quick ratio of 6.05 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average price of $15.39 and a 200-day moving average price of $14.80.

Analysts Set New Price Targets

OM has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Outset Medical from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. 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. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $22.00 price target on shares of Outset Medical in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Outset Medical currently 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.