Omnicell (NASDAQ:OMCL) Releases Earnings Results, Misses Estimates By $0.01 EPS

Omnicell (NASDAQ:OMCL – Get Rating) posted its earnings results on Thursday. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01), Briefing.com reports. The company had revenue of $331.39 million during the quarter, compared to analysts’ expectations of $339.45 million. Omnicell had a net margin of 4.82% and a return on equity of 10.33%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period last year, the business earned $0.71 earnings per share.

Omnicell Stock Down 1.4 %

OMCL traded down $1.58 on Friday, hitting $109.12. 536,608 shares of the company traded hands, compared to its average volume of 361,801. The company has a 50 day moving average of $112.76 and a 200-day moving average of $123.11. The stock has a market capitalization of $4.82 billion, a PE ratio of 86.60, a PEG ratio of 3.58 and a beta of 1.04. Omnicell has a 12-month low of $103.62 and a 12-month high of $187.29.

Insider Buying and Selling at Omnicell

In other news, EVP Scott Peter Seidelmann sold 3,765 shares of the stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $110.15, for a total transaction of $414,714.75. Following the completion of the transaction, the executive vice president now directly owns 40,789 shares of the company’s stock, valued at approximately $4,492,908.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Omnicell

Large investors have recently modified their holdings of the business. Covestor Ltd raised its stake in shares of Omnicell by 424.2% during the 1st quarter. Covestor Ltd now owns 844 shares of the company’s stock worth $109,000 after buying an additional 683 shares in the last quarter. Point72 Hong Kong Ltd grew its holdings in shares of Omnicell by 28.8% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,453 shares of the company’s stock worth $188,000 after acquiring an additional 325 shares during the period. Walleye Capital LLC acquired a new stake in shares of Omnicell in the 1st quarter worth approximately $235,000. Guggenheim Capital LLC grew its holdings in shares of Omnicell by 32.1% in the 1st quarter. Guggenheim Capital LLC now owns 2,241 shares of the company’s stock worth $290,000 after acquiring an additional 544 shares during the period. Finally, Lido Advisors LLC grew its holdings in shares of Omnicell by 38.6% in the 1st quarter. Lido Advisors LLC now owns 2,926 shares of the company’s stock worth $378,000 after acquiring an additional 815 shares during the period.

Analyst Ratings Changes

OMCL has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their target price on shares of Omnicell from $188.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 3rd. Piper Sandler lowered their price objective on shares of Omnicell from $181.00 to $162.00 in a research report on Monday, May 2nd. BTIG Research reduced their target price on shares of Omnicell from $190.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, July 27th. SVB Leerink initiated coverage on Omnicell in a report on Friday, July 15th. They set a “market perform” rating and a $124.00 price target on the stock. Finally, TheStreet downgraded Omnicell from a “b-” rating to a “c+” rating in a research note on Tuesday, May 17th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.80.

Omnicell Company Profile

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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; Omnicell Interface Software that offers interface and integration between its medication-use products or supply products, and a healthcare facility's in-house information management systems; and robotic dispensing systems for handling the stocking and retrieval of boxed medications.