Federated Hermes Inc. Lowers Stake in Outset Medical, Inc. (NASDAQ:OM)

Federated Hermes Inc. reduced its holdings in shares of Outset Medical, Inc. (NASDAQ:OM) by 60.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,597 shares of the company’s stock after selling 254,403 shares during the period. Federated Hermes Inc. owned 0.33% of Outset Medical worth $896,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of OM. Valeo Financial Advisors LLC purchased a new position in shares of Outset Medical during the fourth quarter valued at approximately $117,000. Nisa Investment Advisors LLC boosted its position in shares of Outset Medical by 1,317.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 8,790 shares of the company’s stock worth $48,000 after purchasing an additional 8,170 shares during the period. Griffin Asset Management Inc. boosted its position in shares of Outset Medical by 91.3% in the fourth quarter. Griffin Asset Management Inc. now owns 92,614 shares of the company’s stock worth $501,000 after purchasing an additional 44,192 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Outset Medical by 63.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,020,871 shares of the company’s stock worth $5,523,000 after buying an additional 395,264 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Outset Medical by 0.5% in the third quarter. Vanguard Group Inc. now owns 4,769,491 shares of the company’s stock worth $51,892,000 after buying an additional 21,756 shares in the last quarter.

Outset Medical Price Performance

Outset Medical stock opened at $2.85 on Thursday. The company’s fifty day moving average price is $2.51 and its 200 day moving average price is $3.78. Outset Medical, Inc. has a 1 year low of $1.92 and a 1 year high of $24.13. The stock has a market capitalization of $147.35 million, a P/E ratio of -0.81 and a beta of 1.99. The company has a debt-to-equity ratio of 1.06, a quick ratio of 4.37 and a current ratio of 5.26.

Outset Medical (NASDAQ:OM) last announced its earnings results on Wednesday, February 21st. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.03). Outset Medical had a negative return on equity of 102.50% and a negative net margin of 132.54%. The business had revenue of $30.51 million for the quarter, compared to analyst estimates of $30.40 million. As a group, equities research analysts anticipate that Outset Medical, Inc. will post -2.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OM has been the topic of several research analyst reports. CL King raised shares of Outset Medical from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Friday, April 5th. BTIG Research began coverage on shares of Outset Medical in a report on Monday, April 8th. They issued a “buy” rating and a $6.00 price target on the stock. Finally, Royal Bank of Canada cut shares of Outset Medical from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $14.00 to $6.00 in a report on Friday, January 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.42.

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.