Massachusetts Financial Services Co. MA Purchases 834,663 Shares of Outset Medical, Inc. (NASDAQ:OM)

Massachusetts Financial Services Co. MA boosted its holdings in shares of Outset Medical, Inc. (NASDAQ:OM) by 118.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,538,859 shares of the company’s stock after acquiring an additional 834,663 shares during the period. Massachusetts Financial Services Co. MA owned approximately 2.98% of Outset Medical worth $5,925,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System raised its holdings in shares of Outset Medical by 33.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 18,842 shares of the company’s stock worth $42,000 after acquiring an additional 4,720 shares during the period. Ground Swell Capital LLC bought a new position in Outset Medical during the 2nd quarter worth about $49,000. RPO LLC acquired a new stake in shares of Outset Medical in the 4th quarter valued at about $76,000. Summit Securities Group LLC bought a new stake in shares of Outset Medical in the second quarter valued at about $105,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Outset Medical in the fourth quarter valued at about $161,000.

Outset Medical Price Performance

NASDAQ:OM opened at $0.57 on Friday. The company has a current ratio of 6.80, a quick ratio of 5.38 and a debt-to-equity ratio of 2.87. The firm has a fifty day simple moving average of $1.78 and a 200 day simple moving average of $2.68. Outset Medical, Inc. has a 1-year low of $0.44 and a 1-year high of $12.36. The stock has a market capitalization of $29.86 million, a PE ratio of -0.17 and a beta of 1.92.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on OM shares. TD Cowen cut their target price on Outset Medical from $9.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada cut shares of Outset Medical from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $6.00 to $3.00 in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.64.

Outset Medical 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.