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

Omnicell (NASDAQ:OMCLGet Rating) issued its quarterly 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 firm had revenue of $331.39 million during the quarter, compared to the consensus estimate of $339.45 million. Omnicell had a net margin of 6.00% and a return on equity of 11.35%. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 earnings per share.

Omnicell Price Performance

NASDAQ OMCL traded down $1.58 during trading on Friday, reaching $109.12. 535,628 shares of the company’s stock were exchanged, compared to its average volume of 506,175. The business 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.

Wall Street Analyst Weigh In

Several analysts recently issued reports on OMCL shares. SVB Leerink started coverage on Omnicell in a report on Friday, July 15th. They set a “market perform” rating and a $124.00 target price on the stock. TheStreet lowered Omnicell from a “b-” rating to a “c+” rating in a report on Tuesday, May 17th. Wells Fargo & Company dropped their target price on Omnicell from $188.00 to $158.00 and set an “overweight” rating on the stock in a report on Tuesday, May 3rd. Piper Sandler dropped their target price on Omnicell from $181.00 to $162.00 in a report on Monday, May 2nd. Finally, BTIG Research dropped their target price on Omnicell from $190.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.80.

Insiders Place Their Bets

In other Omnicell news, EVP Scott Peter Seidelmann sold 3,765 shares of the business’s 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 transaction, the executive vice president now owns 40,789 shares of the company’s stock, valued at $4,492,908.35. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.76% of the company’s stock.

Hedge Funds Weigh In On Omnicell

Institutional investors and hedge funds have recently made changes to their positions in the company. Covestor Ltd grew its position in shares of Omnicell by 424.2% in the first quarter. Covestor Ltd now owns 844 shares of the company’s stock valued at $109,000 after purchasing an additional 683 shares during the last quarter. Point72 Hong Kong Ltd grew its position in shares of Omnicell by 28.8% in the first quarter. Point72 Hong Kong Ltd now owns 1,453 shares of the company’s stock valued at $188,000 after purchasing an additional 325 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Omnicell in the first quarter valued at approximately $235,000. Guggenheim Capital LLC grew its position in shares of Omnicell by 32.1% in the first quarter. Guggenheim Capital LLC now owns 2,241 shares of the company’s stock valued at $290,000 after purchasing an additional 544 shares during the last quarter. Finally, Lido Advisors LLC grew its position in Omnicell by 38.6% during the first quarter. Lido Advisors LLC now owns 2,926 shares of the company’s stock worth $378,000 after buying an additional 815 shares in the last quarter.

About Omnicell

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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.

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Earnings History for Omnicell (NASDAQ:OMCL)

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