QRG Capital Management Inc. Acquires New Holdings in Omnicell, Inc. (NASDAQ:OMCL)

QRG Capital Management Inc. bought a new position in shares of Omnicell, Inc. (NASDAQ:OMCL) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,295 shares of the company’s stock, valued at approximately $231,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OMCL. Rice Hall James & Associates LLC bought a new stake in shares of Omnicell in the third quarter worth $2,723,000. 1620 Investment Advisors Inc. grew its position in shares of Omnicell by 230.1% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,212 shares of the company’s stock valued at $96,000 after buying an additional 1,542 shares during the last quarter. Roubaix Capital LLC acquired a new stake in shares of Omnicell in the third quarter valued at about $1,851,000. Everence Capital Management Inc. acquired a new stake in shares of Omnicell in the third quarter valued at about $249,000. Finally, Accurate Wealth Management LLC raised its position in shares of Omnicell by 14.8% during the third quarter. Accurate Wealth Management LLC now owns 21,260 shares of the company’s stock worth $901,000 after acquiring an additional 2,746 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Omnicell Stock Performance

Shares of Omnicell stock opened at $48.89 on Wednesday. The business has a 50-day simple moving average of $43.98 and a 200 day simple moving average of $36.40. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -125.28, a PEG ratio of 48.27 and a beta of 0.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.05 and a quick ratio of 0.95. Omnicell, Inc. has a one year low of $25.12 and a one year high of $55.74.

Wall Street Analyst Weigh In

OMCL has been the topic of several analyst reports. Bank of America reiterated a “neutral” rating and issued a $57.00 target price (up from $44.00) on shares of Omnicell in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of Omnicell from $26.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Benchmark restated a “buy” rating and issued a $48.00 target price on shares of Omnicell in a report on Wednesday, October 9th. Craig Hallum upped their price target on shares of Omnicell from $45.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Barclays lifted their price objective on Omnicell from $39.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $50.83.

Omnicell Profile

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.