Renaissance Technologies LLC Increases Position in Outset Medical, Inc. $OM

Renaissance Technologies LLC grew its holdings in shares of Outset Medical, Inc. (NASDAQ:OM) by 391.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 222,075 shares of the company’s stock after buying an additional 176,870 shares during the quarter. Renaissance Technologies LLC owned 1.20% of Outset Medical worth $853,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Los Angeles Capital Management LLC bought a new stake in shares of Outset Medical during the 4th quarter worth approximately $29,000. Legal & General Group Plc bought a new position in Outset Medical in the 2nd quarter valued at $34,000. BNP Paribas Financial Markets increased its stake in Outset Medical by 7,013.8% in the second quarter. BNP Paribas Financial Markets now owns 2,063 shares of the company’s stock worth $40,000 after purchasing an additional 2,034 shares during the period. Hsbc Holdings PLC purchased a new stake in Outset Medical in the fourth quarter worth $46,000. Finally, HRT Financial LP bought a new stake in shares of Outset Medical during the fourth quarter worth $58,000.

Outset Medical Stock Performance

OM stock opened at $4.51 on Friday. Outset Medical, Inc. has a 1-year low of $3.00 and a 1-year high of $16.16. The business has a 50-day moving average price of $4.58 and a 200 day moving average price of $4.25. The company has a market capitalization of $84.79 million, a P/E ratio of -1.10 and a beta of 1.96. The company has a debt-to-equity ratio of 1.03, a current ratio of 5.19 and a quick ratio of 4.97.

Outset Medical (NASDAQ:OM) last issued its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.08). The business had revenue of $31.64 million for the quarter, compared to the consensus estimate of $28.97 million. Outset Medical had a negative return on equity of 61.67% and a negative net margin of 63.06%. As a group, equities research analysts forecast that Outset Medical, Inc. will post -3.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OM shares. Wall Street Zen upgraded shares of Outset Medical from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings upgraded shares of Outset Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 7th. Finally, TD Cowen reissued a “buy” rating on shares of Outset Medical in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.00.

Insider Buying and Selling at Outset Medical

In other news, CFO Renee Gaeta sold 17,672 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $4.94, for a total transaction of $87,299.68. Following the transaction, the chief financial officer directly owned 113,753 shares in the company, valued at approximately $561,939.82. This trade represents a 13.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.50% of the company’s stock.

Outset Medical Company Profile

Outset Medical is a medical technology company specializing in innovations for renal care. The company’s flagship offering, the Tablo Hemodialysis System, is designed to streamline and simplify dialysis treatment across acute and outpatient settings. By integrating water purification, dialysate production, and treatment monitoring into a single device, Tablo aims to reduce the complexity and logistical burden traditionally associated with hemodialysis therapy.

Tablo’s modular design allows for rapid setup and flexible deployment in hospitals, clinics, long‐term care facilities and emergency response scenarios.