Omnicell, Inc. $OMCL Stock: Redmond Asset Management LLC Decreases Position

Redmond Asset Management LLC lessened its stake in Omnicell, Inc. (NASDAQ:OMCL) by 38.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,663 shares of the company’s stock after selling 54,418 shares during the period. Omnicell comprises about 0.9% of Redmond Asset Management LLC’s holdings, making the stock its 29th largest holding. Redmond Asset Management LLC’s holdings in Omnicell were worth $2,985,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Omnicell during the 2nd quarter worth approximately $313,044,000. First Light Asset Management LLC bought a new stake in Omnicell in the first quarter valued at approximately $16,351,000. Fort Washington Investment Advisors Inc. OH bought a new stake in Omnicell in the third quarter valued at approximately $15,620,000. WCM Investment Management LLC bought a new stake in Omnicell in the first quarter valued at approximately $9,783,000. Finally, Empowered Funds LLC boosted its stake in shares of Omnicell by 4,229.9% during the first quarter. Empowered Funds LLC now owns 262,043 shares of the company’s stock valued at $8,747,000 after purchasing an additional 255,991 shares during the period. Institutional investors own 97.70% of the company’s stock.

Omnicell Stock Down 2.2%

NASDAQ OMCL opened at $35.95 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.64 and a quick ratio of 1.43. The stock has a market capitalization of $1.63 billion, a PE ratio of 42.80, a PEG ratio of 0.95 and a beta of 0.98. Omnicell, Inc. has a 1 year low of $29.09 and a 1 year high of $55.00. The business’s 50-day moving average is $34.57 and its 200 day moving average is $39.26.

Omnicell (NASDAQ:OMCL) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.47. The company had revenue of $312.21 million for the quarter, compared to the consensus estimate of $310.21 million. Omnicell had a return on equity of 5.66% and a net margin of 3.13%. Omnicell’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 EPS. Sell-side analysts forecast that Omnicell, Inc. will post 1.41 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $45.00 target price (down from $55.00) on shares of Omnicell in a report on Monday, August 3rd. KeyCorp reaffirmed an “overweight” rating on shares of Omnicell in a research note on Monday, August 24th. Zacks Research upgraded shares of Omnicell from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Wells Fargo & Company lowered their price target on shares of Omnicell from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Finally, Weiss Ratings raised shares of Omnicell from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.86.

Omnicell Company Profile

Omnicell, Inc develops medication management and adherence solutions for health care providers, pharmacies and patients. Its technologies are designed to help automate medication dispensing, improve inventory control, support clinical workflows and enhance medication access and adherence across the care continuum.

The company’s product portfolio includes automated dispensing cabinets for hospitals and health systems, central pharmacy and intravenous compounding automation, medication packaging and adherence solutions, and software for analytics, inventory management and pharmacy operations.