Geode Capital Management LLC Purchases 376,196 Shares of Outset Medical, Inc. $OM

Geode Capital Management LLC boosted its position in shares of Outset Medical, Inc. (NASDAQ:OM) by 955.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 415,552 shares of the company’s stock after acquiring an additional 376,196 shares during the quarter. Geode Capital Management LLC’s holdings in Outset Medical were worth $7,984,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Woodline Partners LP acquired a new position in shares of Outset Medical during the 1st quarter worth about $14,663,000. Parkman Healthcare Partners LLC bought a new position in Outset Medical during the first quarter worth about $2,556,000. Alyeska Investment Group L.P. acquired a new position in Outset Medical during the first quarter worth approximately $18,836,000. Durable Capital Partners LP bought a new stake in Outset Medical in the first quarter valued at approximately $19,247,000. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Outset Medical in the first quarter valued at approximately $17,730,000.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OM. Weiss Ratings reissued a “sell (e+)” rating on shares of Outset Medical in a report on Monday. BTIG Research dropped their price objective on shares of Outset Medical from $39.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Wall Street Zen cut shares of Outset Medical from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Royal Bank Of Canada decreased their price target on shares of Outset Medical from $22.00 to $17.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 11th. Finally, Stifel Nicolaus set a $14.00 price objective on shares of Outset Medical and gave the stock a “buy” rating in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Outset Medical Trading Down 7.0%

OM stock opened at $4.39 on Friday. Outset Medical, Inc. has a 52 week low of $4.00 and a 52 week high of $25.35. The company has a market capitalization of $79.68 million, a PE ratio of -0.34 and a beta of 2.03. The company’s 50-day simple moving average is $10.34 and its 200 day simple moving average is $14.58. The company has a debt-to-equity ratio of 0.69, a quick ratio of 5.77 and a current ratio of 7.09.

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.