Outset Medical, Inc. (NASDAQ:OM) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. lessened its holdings in shares of Outset Medical, Inc. (NASDAQ:OM) by 59.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,275 shares of the company’s stock after selling 63,239 shares during the quarter. Griffin Asset Management Inc.’s holdings in Outset Medical were worth $29,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State Board of Administration of Florida Retirement System raised its stake in shares of Outset Medical by 33.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,842 shares of the company’s stock valued at $42,000 after purchasing an additional 4,720 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in Outset Medical during the 2nd quarter worth approximately $49,000. Ground Swell Capital LLC bought a new position in Outset Medical during the 2nd quarter worth approximately $49,000. GSA Capital Partners LLP grew its position in shares of Outset Medical by 5.1% in the 1st quarter. GSA Capital Partners LLP now owns 540,571 shares of the company’s stock worth $1,200,000 after acquiring an additional 26,254 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Outset Medical in the 2nd quarter valued at approximately $105,000.

Outset Medical Trading Up 3.3 %

Shares of NASDAQ OM opened at $0.63 on Thursday. The company has a market cap of $32.58 million, a price-to-earnings ratio of -0.19 and a beta of 1.94. The stock’s 50 day simple moving average is $0.62 and its 200 day simple moving average is $2.46. The company has a current ratio of 6.80, a quick ratio of 5.38 and a debt-to-equity ratio of 2.87. Outset Medical, Inc. has a 12-month low of $0.44 and a 12-month high of $6.37.

Outset Medical (NASDAQ:OM) last posted 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). The company had revenue of $27.39 million during the quarter, compared to the consensus estimate of $31.19 million. Outset Medical had a negative net margin of 136.72% and a negative return on equity of 143.52%. During the same quarter in the previous year, the business posted ($0.90) earnings per share. Equities research analysts expect that Outset Medical, Inc. will post -2.52 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. TD Cowen reduced their price objective 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 downgraded shares of Outset Medical from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $6.00 to $3.00 in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Outset Medical has a consensus rating of “Moderate Buy” and an average price target of $4.70.

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.