Point72 Asia Singapore Pte. Ltd. Takes Position in Outset Medical, Inc. (NASDAQ:OM)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Outset Medical, Inc. (NASDAQ:OM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 67,152 shares of the company’s stock, valued at approximately $259,000. Point72 Asia Singapore Pte. Ltd. owned approximately 0.13% of Outset Medical as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new stake in Outset Medical during the 2nd quarter worth $827,000. Millennium Management LLC boosted its position in shares of Outset Medical by 58.8% in the 2nd quarter. Millennium Management LLC now owns 1,942,899 shares of the company’s stock valued at $7,480,000 after purchasing an additional 719,412 shares during the period. Squarepoint Ops LLC increased its position in Outset Medical by 74.1% during the second quarter. Squarepoint Ops LLC now owns 80,300 shares of the company’s stock worth $309,000 after buying an additional 34,187 shares during the period. Cubist Systematic Strategies LLC increased its position in Outset Medical by 228.3% during the second quarter. Cubist Systematic Strategies LLC now owns 200,939 shares of the company’s stock worth $774,000 after buying an additional 139,740 shares during the period. Finally, Marshall Wace LLP lifted its stake in Outset Medical by 487.8% in the second quarter. Marshall Wace LLP now owns 314,187 shares of the company’s stock valued at $1,210,000 after buying an additional 260,740 shares during the last quarter.

Outset Medical Price Performance

NASDAQ OM opened at $0.63 on Wednesday. The firm has a market capitalization of $32.67 million, a PE ratio of -0.19 and a beta of 1.93. The company has a debt-to-equity ratio of 2.87, a current ratio of 6.80 and a quick ratio of 5.38. Outset Medical, Inc. has a 12 month low of $0.44 and a 12 month high of $10.77. The company’s 50 day simple moving average is $1.28 and its 200 day simple moving average is $2.58.

Outset Medical (NASDAQ:OM) last issued its earnings results on Wednesday, August 7th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.07). The business had revenue of $27.39 million for the quarter, compared to the consensus estimate of $31.19 million. Outset Medical had a negative return on equity of 143.52% and a negative net margin of 136.72%. During the same quarter in the previous year, the business posted ($0.90) earnings per share. As a group, equities research analysts forecast that Outset Medical, Inc. will post -2.52 EPS for the current fiscal year.

Analyst Ratings Changes

OM has been the topic of a number of research reports. Royal Bank of Canada lowered Outset Medical from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $6.00 to $3.00 in a report on Thursday, August 8th. TD Cowen dropped their target price on Outset Medical from $9.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Outset Medical presently has an average rating of “Hold” and a consensus target price of $4.64.

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.