Omnicell (NASDAQ:OMCL) Trading Down 4.1%

Shares of Omnicell, Inc. (NASDAQ:OMCL) were down 4.1% during trading on Wednesday . The stock traded as low as $43.03 and last traded at $43.10. Approximately 169,935 shares changed hands during trading, a decline of 67% from the average daily volume of 520,760 shares. The stock had previously closed at $44.92.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Omnicell from $26.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Wells Fargo & Company boosted their price objective on shares of Omnicell from $26.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Benchmark reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Omnicell in a research report on Monday, July 15th. Barclays raised Omnicell from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $26.00 to $39.00 in a report on Friday, August 2nd. Finally, StockNews.com lowered shares of Omnicell from a “buy” rating to a “hold” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $37.83.

Omnicell Stock Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 2.45 and a quick ratio of 2.22. The firm’s 50-day moving average price is $38.85 and its 200-day moving average price is $32.12. The stock has a market cap of $2.00 billion, a P/E ratio of -94.39, a PEG ratio of 47.22 and a beta of 0.83.

Omnicell (NASDAQ:OMCL) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.14 by $0.37. Omnicell had a negative net margin of 1.92% and a positive return on equity of 2.52%. The business had revenue of $276.80 million for the quarter, compared to analysts’ expectations of $254.41 million. During the same quarter in the previous year, the company earned $0.29 EPS. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. Sell-side analysts expect that Omnicell, Inc. will post 0.64 earnings per share for the current fiscal year.

Institutional Trading of Omnicell

Several hedge funds have recently modified their holdings of the company. Federated Hermes Inc. boosted its holdings in shares of Omnicell by 1,113.6% in the 2nd quarter. Federated Hermes Inc. now owns 991,151 shares of the company’s stock worth $26,830,000 after purchasing an additional 909,480 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Omnicell by 32.6% in the second quarter. Pacer Advisors Inc. now owns 2,070,434 shares of the company’s stock valued at $56,047,000 after acquiring an additional 508,789 shares in the last quarter. Norges Bank purchased a new stake in Omnicell in the fourth quarter worth about $18,802,000. Vanguard Group Inc. lifted its stake in Omnicell by 8.5% in the fourth quarter. Vanguard Group Inc. now owns 5,571,420 shares of the company’s stock worth $209,653,000 after acquiring an additional 434,336 shares during the period. Finally, Champlain Investment Partners LLC grew its holdings in Omnicell by 16.0% during the 1st quarter. Champlain Investment Partners LLC now owns 1,753,205 shares of the company’s stock worth $51,246,000 after acquiring an additional 241,235 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

About Omnicell

Omnicell, Inc, together with its subsidiaries, provides medication management solutions and adherence tools for healthcare systems and pharmacies the United States and internationally. 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 operating room; and robotic dispensing systems for handling the stocking and retrieval of boxed medications.