Huntington National Bank Acquires 20,000 Shares of Outset Medical, Inc. (NASDAQ:OM)

Huntington National Bank increased its holdings in shares of Outset Medical, Inc. (NASDAQ:OM) by 46.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,306 shares of the company’s stock after purchasing an additional 20,000 shares during the period. Huntington National Bank’s holdings in Outset Medical were worth $43,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its position in 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 acquiring an additional 4,720 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Outset Medical by 369.4% in the 1st quarter. Acadian Asset Management LLC now owns 779,242 shares of the company’s stock valued at $1,728,000 after purchasing an additional 613,229 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Outset Medical by 103.7% in the first quarter. Lazard Asset Management LLC now owns 523,860 shares of the company’s stock valued at $1,162,000 after purchasing an additional 266,717 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Outset Medical by 75.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 82,636 shares of the company’s stock worth $184,000 after buying an additional 35,495 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Outset Medical by 29.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 398,006 shares of the company’s stock worth $884,000 after buying an additional 91,256 shares in the last quarter.

Outset Medical Trading Up 7.5 %

Shares of Outset Medical stock opened at $0.75 on Wednesday. Outset Medical, Inc. has a 12-month low of $0.44 and a 12-month high of $6.37. The company has a quick ratio of 5.04, a current ratio of 6.49 and a debt-to-equity ratio of 4.12. The business’s 50 day moving average is $0.62 and its 200-day moving average is $2.18. The stock has a market cap of $39.44 million, a P/E ratio of -0.27 and a beta of 1.95.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OM. TD Cowen reduced their price target on Outset Medical from $9.00 to $3.00 and set a “buy” rating for the company in a research report 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.