Renaissance Technologies LLC Buys 176,870 Shares of Outset Medical, Inc. $OM

Renaissance Technologies LLC increased its stake in shares of Outset Medical, Inc. (NASDAQ:OM) by 391.3% in the first quarter, HoldingsChannel reports. The firm owned 222,075 shares of the company’s stock after buying an additional 176,870 shares during the period. Renaissance Technologies LLC’s holdings in Outset Medical were worth $853,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Outset Medical by 662.8% in the second quarter. JPMorgan Chase & Co. now owns 8,452 shares of the company’s stock valued at $162,000 after purchasing an additional 7,344 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Outset Medical in the 2nd quarter valued at about $34,000. Rhumbline Advisers bought a new stake in shares of Outset Medical in the 2nd quarter valued at about $499,000. New York State Common Retirement Fund purchased a new position in shares of Outset Medical in the 2nd quarter worth approximately $108,000. Finally, Quantbot Technologies LP bought a new position in shares of Outset Medical during the 2nd quarter worth approximately $152,000.

Outset Medical Price Performance

Shares of OM stock opened at $4.51 on Friday. Outset Medical, Inc. has a fifty-two week low of $3.00 and a fifty-two week high of $16.16. The company has a debt-to-equity ratio of 1.03, a quick ratio of 4.97 and a current ratio of 5.19. The firm has a market capitalization of $84.79 million, a price-to-earnings ratio of -1.10 and a beta of 1.96. The stock’s 50-day simple moving average is $4.58 and its 200-day simple moving average is $4.25.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Outset Medical

In other Outset Medical news, CFO Renee Gaeta sold 17,672 shares of Outset Medical stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $4.94, for a total transaction of $87,299.68. Following the completion of the transaction, the chief financial officer owned 113,753 shares in the company, valued at approximately $561,939.82. This trade represents a 13.45% decrease in their position. The transaction was disclosed in a filing with the SEC, 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.

About Outset Medical

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.