Omnicell Inc (NASDAQ:OMCL – Get Rating) released its quarterly results on Thursday. The company reported EPS of $0.84 for the quarter, missing analyst consensus estimates of $0.85 per ($0.01), Briefing.com reports. The company posted revenue of $331.39 million in the quarter, versus a consensus estimate of $339.45 million. Omnicell had a net margin of 6.00% and a return on equity of 11.35%. The company’s revenue for the quarter increased 21.5% year over year. In the same quarter last year, the company earned earnings per share of $0.71.
Omnicell Price Performance
The NASDAQ OMCL traded at $1.58 during Friday’s session, hitting $109.12. 535,628 shares of the company were traded, against an average volume of 506,175. The company has a 50-day moving average price of $112.76 and a 200-day moving average price of $123.11. The stock has a market capitalization of $4.82 billion, a P/E ratio of 73.23, a PEG ratio of 3.60 and a beta of 1.04. Omnicell has a fifty-two week low of $103.62 and a fifty-two week high of $187.29.
A Wall Street analyst gives his opinion
Several analysts have recently released reports on OMCL shares. SVB Leerink began Omnicell coverage in a report on Friday July 15. They set a “market performance” rating and a target price of $124.00 on the stock. TheStreet downgraded Omnicell from a “b-” rating to a “c+” rating in a Tuesday, May 17 report. Wells Fargo & Company lowered its price target on Omnicell from $188.00 to $158.00 and set an “overweight” rating on the stock in a Tuesday, May 3 report. Piper Sandler lowered its target price on Omnicell from $181.00 to $162.00 in a Monday, May 2 report. Finally, BTIG Research lowered its price target on Omnicell from $190.00 to $175.00 and set a “buy” rating on the stock in a Wednesday, July 27 report. Two research analysts gave the stock a hold rating and four gave the stock a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.80.
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In other Omnicell news, Executive Vice President Scott Peter Seidelmann sold 3,765 shares of the company in a trade that took place on Thursday, June 16. The stock was sold at an average price of $110.15, for a total transaction of $414,714.75. Following the transaction, the executive vice president now owns 40,789 shares of the company, valued at $4,492,908.35. The sale was disclosed in a document filed with the SEC, which is available via this link. Insiders of the company hold 2.76% of the shares of the company.
Hedge funds weigh on Omnicell
Institutional investors and hedge funds have recently changed their positions in the company. Covestor Ltd increased its position in Omnicell shares by 424.2% in the first quarter. Covestor Ltd now owns 844 shares in the company valued at $109,000 after buying an additional 683 shares in the last quarter. Point72 Hong Kong Ltd increased its position in Omnicell shares by 28.8% in the first quarter. Point72 Hong Kong Ltd now owns 1,453 shares in the company valued at $188,000 after buying 325 additional shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Omnicell in the first quarter worth approximately $235,000. Guggenheim Capital LLC increased its position in Omnicell shares by 32.1% in the first quarter. Guggenheim Capital LLC now owns 2,241 shares of the company valued at $290,000 after purchasing an additional 544 shares in the last quarter. Finally, Lido Advisors LLC increased its position in Omnicell by 38.6% during the first quarter. Lido Advisors LLC now owns 2,926 shares of the company worth $378,000 after buying 815 additional shares in the last quarter.
About Omnicell
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Omnicell, Inc, together with its subsidiaries, provides medication management solutions and compliance tools for healthcare systems and pharmacies in the United States and around the world. The company offers point-of-care automation solutions to improve clinician workflows in patient care areas of the healthcare system; XT Series automated dispensing systems for medications and supplies used in nursing units and other clinical areas of the hospital, as well as specialized automated dispensing systems for the operating room; Omnicell interface software that provides interface and integration between its drug utilization or procurement products and a healthcare facility’s internal information management systems; and robotic dispensing systems to manage the storage and retrieval of boxed medications.
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