Stephens Begins Coverage on Omnicell (NASDAQ:OMCL)

Stephens assumed coverage on shares of Omnicell (NASDAQ:OMCL) in a report issued on Monday, BenzingaRatingsTable reports. The brokerage issued an overweight rating and a $90.00 price objective on the stock.

OMCL has been the subject of several other research reports. Cantor Fitzgerald decreased their price target on shares of Omnicell from $95.00 to $85.00 and set an overweight rating for the company in a report on Friday, May 8th. Benchmark decreased their target price on Omnicell from $96.00 to $82.00 and set a buy rating for the company in a research note on Friday, May 8th. BidaskClub upgraded Omnicell from a sell rating to a hold rating in a report on Saturday, June 20th. ValuEngine cut Omnicell from a buy rating to a hold rating in a report on Friday, April 17th. Finally, Piper Sandler decreased their price objective on Omnicell from $88.00 to $76.00 and set a neutral rating for the company in a research report on Friday, May 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $84.89.

Shares of NASDAQ OMCL opened at $65.12 on Monday. Omnicell has a 1 year low of $54.24 and a 1 year high of $94.85. The firm’s 50-day moving average is $67.44 and its 200-day moving average is $74.45. The firm has a market capitalization of $2.85 billion, a PE ratio of 40.70, a price-to-earnings-growth ratio of 2.63 and a beta of 1.03.

Omnicell (NASDAQ:OMCL) last issued its earnings results on Thursday, May 7th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.51 by $0.15. Omnicell had a net margin of 7.51% and a return on equity of 11.37%. The company had revenue of $229.69 million during the quarter, compared to analysts’ expectations of $218.99 million. During the same quarter in the previous year, the company posted $0.61 EPS. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities research analysts expect that Omnicell will post 1.69 EPS for the current year.

In other news, EVP Scott Peter Seidelmann sold 2,125 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $67.70, for a total value of $143,862.50. Following the sale, the executive vice president now directly owns 33,385 shares of the company’s stock, valued at approximately $2,260,164.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.63% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. raised its holdings in Omnicell by 930.8% in the 1st quarter. Meeder Asset Management Inc. now owns 402 shares of the company’s stock valued at $26,000 after acquiring an additional 363 shares during the period. Archer Investment Corp acquired a new position in shares of Omnicell in the fourth quarter valued at approximately $33,000. Point72 Hong Kong Ltd bought a new position in shares of Omnicell during the fourth quarter worth approximately $72,000. Citizens Financial Group Inc RI lifted its holdings in Omnicell by 406.4% during the 1st quarter. Citizens Financial Group Inc RI now owns 1,023 shares of the company’s stock worth $67,000 after purchasing an additional 821 shares during the last quarter. Finally, Sowell Financial Services LLC boosted its stake in Omnicell by 540.7% in the 1st quarter. Sowell Financial Services LLC now owns 1,134 shares of the company’s stock valued at $74,000 after purchasing an additional 957 shares during the period. 95.89% of the stock is owned by hedge funds and other institutional investors.

About Omnicell

Omnicell, Inc provides medication and supply dispensing automation, central pharmacy automation, analytics software, and medication adherence solutions for the healthcare industry worldwide. It operates in two segments, Automation and Analytics, and Medication Adherence. The Automation and Analytics segment offers central pharmacy automation solutions, including automated storage and retrieval systems, such as XR2 Automated Central Pharmacy System, a building block of autonomous pharmacy vision; IV compounding robots and workflow management systems; inventory management software; and controlled substance management systems.

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