Outset Medical, Inc. $OM Position Lessened by Pura Vida Investments LLC

Pura Vida Investments LLC lowered its position in shares of Outset Medical, Inc. (NASDAQ:OM) by 98.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,000 shares of the company’s stock after selling 424,120 shares during the quarter. Outset Medical makes up approximately 0.5% of Pura Vida Investments LLC’s holdings, making the stock its 8th biggest holding. Pura Vida Investments LLC’s holdings in Outset Medical were worth $71,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Outset Medical by 955.9% during the 2nd quarter. Geode Capital Management LLC now owns 415,552 shares of the company’s stock worth $7,984,000 after purchasing an additional 376,196 shares during the period. Assenagon Asset Management S.A. purchased a new position in Outset Medical during the third quarter worth about $5,324,000. Ensign Peak Advisors Inc boosted its stake in Outset Medical by 272.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 314,522 shares of the company’s stock worth $6,042,000 after buying an additional 230,065 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Outset Medical in the 2nd quarter worth about $2,750,000. Finally, Bank of America Corp DE grew its holdings in Outset Medical by 37,130.1% in the 2nd quarter. Bank of America Corp DE now owns 135,890 shares of the company’s stock valued at $2,610,000 after buying an additional 135,525 shares during the period.

Outset Medical Price Performance

OM opened at $3.53 on Thursday. The stock has a fifty day moving average of $4.30 and a 200-day moving average of $8.42. The firm has a market capitalization of $64.63 million, a P/E ratio of -0.52 and a beta of 2.12. Outset Medical, Inc. has a 12-month low of $3.10 and a 12-month high of $21.98. The company has a quick ratio of 5.40, a current ratio of 6.67 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling

In other news, EVP Marc Nash sold 5,375 shares of the company’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $5.12, for a total value of $27,520.00. Following the transaction, the executive vice president owned 42,785 shares in the company, valued at $219,059.20. This represents a 11.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel John L. Brottem sold 9,314 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $5.12, for a total transaction of $47,687.68. Following the completion of the sale, the general counsel directly owned 36,957 shares of the company’s stock, valued at $189,219.84. This trade represents a 20.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 40,910 shares of company stock valued at $193,040. Corporate insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OM. BTIG Research cut their price objective on shares of Outset Medical from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Stifel Nicolaus cut their price target on shares of Outset Medical from $14.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, January 7th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $7.00 price target on shares of Outset Medical in a report on Wednesday, December 17th. Wall Street Zen downgraded Outset Medical from a “hold” rating to a “sell” rating in a report on Sunday, February 8th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Outset Medical in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Outset Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

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.