Fred Alger Management LLC Takes $895,000 Position in Omnicell, Inc. (NASDAQ:OMCL)

Fred Alger Management LLC bought a new position in shares of Omnicell, Inc. (NASDAQ:OMCL) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,109 shares of the company’s stock, valued at approximately $895,000.

A number of other hedge funds also recently modified their holdings of the company. Shaker Investments LLC OH acquired a new position in shares of Omnicell in the fourth quarter valued at $550,000. Empowered Funds LLC bought a new position in shares of Omnicell during the 4th quarter worth about $388,000. Exchange Traded Concepts LLC boosted its position in shares of Omnicell by 6.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 319,682 shares of the company’s stock valued at $14,232,000 after acquiring an additional 20,031 shares in the last quarter. SG Americas Securities LLC lifted its stake in Omnicell by 56.5% during the fourth quarter. SG Americas Securities LLC now owns 39,359 shares of the company’s stock worth $1,752,000 after purchasing an additional 14,202 shares during the period. Finally, CIBC Asset Management Inc bought a new position in shares of Omnicell during the 4th quarter worth approximately $201,000. Institutional investors own 97.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on OMCL. StockNews.com lowered Omnicell from a “buy” rating to a “hold” rating in a research note on Saturday, May 3rd. JPMorgan Chase & Co. reduced their price target on shares of Omnicell from $44.00 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Benchmark cut their target price on shares of Omnicell from $62.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company decreased their price target on Omnicell from $38.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $45.83.

Omnicell Stock Up 1.9 %

NASDAQ:OMCL opened at $25.88 on Friday. The stock’s fifty day moving average price is $32.28 and its two-hundred day moving average price is $39.96. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 95.86, a P/E/G ratio of 7.53 and a beta of 0.78. Omnicell, Inc. has a 52-week low of $22.66 and a 52-week high of $55.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.22 and a current ratio of 1.37.

Omnicell (NASDAQ:OMCL) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.10. The business had revenue of $269.67 million for the quarter, compared to analysts’ expectations of $260.18 million. Omnicell had a return on equity of 3.82% and a net margin of 1.13%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 earnings per share. On average, analysts anticipate that Omnicell, Inc. will post 1.09 EPS for the current year.

Omnicell Company 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.