Omnicell, Inc. $OMCL Holdings Trimmed by Redmond Asset Management LLC

Redmond Asset Management LLC reduced its stake in shares of Omnicell, Inc. (NASDAQ:OMCL) by 38.3% during the third quarter, Holdings Channel reports. The firm owned 87,663 shares of the company’s stock after selling 54,418 shares during the quarter. Omnicell makes up approximately 0.9% of Redmond Asset Management LLC’s portfolio, making the stock its 29th biggest position. Redmond Asset Management LLC’s holdings in Omnicell were worth $2,985,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in OMCL. Nykredit A S bought a new position in Omnicell in the 2nd quarter worth $26,000. Versant Capital Management Inc boosted its stake in shares of Omnicell by 38.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,053 shares of the company’s stock valued at $44,000 after purchasing an additional 294 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Omnicell by 21.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,613 shares of the company’s stock valued at $89,000 after purchasing an additional 469 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Omnicell during the 2nd quarter valued at about $105,000. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Omnicell during the third quarter valued at about $107,000. 97.70% of the stock is currently owned by institutional investors.

Omnicell Price Performance

Shares of OMCL stock opened at $35.95 on Thursday. The business’s fifty day moving average is $34.57 and its 200 day moving average is $39.26. The company has a quick ratio of 1.43, a current ratio of 1.64 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 42.80, a PEG ratio of 0.95 and a beta of 0.98. Omnicell, Inc. has a twelve month low of $29.09 and a twelve month high of $55.00.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OMCL. Weiss Ratings upgraded shares of Omnicell from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. 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 cut their price objective on Omnicell from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Piper Sandler reaffirmed an “overweight” rating and set a $45.00 price objective (down from $55.00) on shares of Omnicell in a research report on Monday, August 3rd. Finally, KeyCorp reiterated an “overweight” rating on shares of Omnicell in a report on Monday, August 24th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.