1,325,784 Shares in Outset Medical, Inc. $OM Purchased 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 purchased a new position in shares of Outset Medical, Inc. (NASDAQ:OM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in OM. Squarepoint Ops LLC bought a new stake in shares of Outset Medical in the 4th quarter valued at $174,000. Two Sigma Investments LP grew its stake in Outset Medical by 36.0% in the fourth quarter. Two Sigma Investments LP now owns 488,602 shares of the company's stock valued at $542,000 after acquiring an additional 129,334 shares during the period. TD Asset Management Inc bought a new stake in shares of Outset Medical in the first quarter worth about $589,000. Parkman Healthcare Partners LLC acquired a new stake in shares of Outset Medical during the first quarter worth about $2,556,000. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Outset Medical during the 1st quarter valued at about $9,293,000.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Royal Bank Of Canada reissued a "sector perform" rating and set a $22.00 target price on shares of Outset Medical in a research note on Tuesday, August 19th. BTIG Research set a $37.00 price target on shares of Outset Medical and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Wall Street Zen upgraded shares of Outset Medical from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. One 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 stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $24.67.

Outset Medical Stock Down 3.3%

NASDAQ:OM traded down $0.46 during trading hours on Friday, reaching $13.69. 94,858 shares of the stock were exchanged, compared to its average volume of 156,703. The stock has a market cap of $243.22 million, a PE ratio of -0.67 and a beta of 2.13. Outset Medical, Inc. has a twelve month low of $5.85 and a twelve month high of $25.35. The firm has a 50 day moving average of $15.53 and a 200 day moving average of $14.73. The company has a debt-to-equity ratio of 0.63, a current ratio of 7.47 and a quick ratio of 6.05.

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.