Zacks Research Equities Analysts Boost Earnings Estimates for Omnicell, Inc. (NASDAQ:OMCL)

Omnicell, Inc. (NASDAQ:OMCL) – Analysts at Zacks Research lifted their Q3 2024 earnings per share estimates for Omnicell in a research report issued to clients and investors on Tuesday, April 16th. Zacks Research analyst M. Mondal now expects that the company will earn $0.11 per share for the quarter, up from their prior estimate of $0.08. The consensus estimate for Omnicell’s current full-year earnings is $0.10 per share.

Omnicell (NASDAQ:OMCL) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.22. Omnicell had a positive return on equity of 3.43% and a negative net margin of 1.78%. The company had revenue of $258.85 million for the quarter, compared to analysts’ expectations of $256.00 million.

Several other analysts have also recently issued reports on the company. Benchmark dropped their target price on Omnicell from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, February 9th. Barclays assumed coverage on Omnicell in a research report on Wednesday, January 3rd. They issued an “underweight” rating and a $33.00 price objective for the company. Finally, Wells Fargo & Company lowered their price objective on Omnicell from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Friday, February 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $42.20.

Omnicell Stock Up 3.7 %

Shares of NASDAQ OMCL opened at $27.25 on Wednesday. The company has a current ratio of 2.52, a quick ratio of 2.22 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $1.25 billion, a PE ratio of -60.56 and a beta of 0.76. The stock’s fifty day simple moving average is $27.72 and its two-hundred day simple moving average is $33.01. Omnicell has a 12-month low of $25.69 and a 12-month high of $77.14.

Hedge Funds Weigh In On Omnicell

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in Omnicell by 561.4% in the 3rd quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $25,000 after acquiring an additional 466 shares during the last quarter. Belpointe Asset Management LLC raised its stake in Omnicell by 92.2% in the 1st quarter. Belpointe Asset Management LLC now owns 494 shares of the company’s stock worth $29,000 after acquiring an additional 237 shares during the last quarter. KBC Group NV purchased a new position in shares of Omnicell during the 4th quarter valued at about $38,000. Covestor Ltd raised its stake in shares of Omnicell by 65.6% during the 3rd quarter. Covestor Ltd now owns 1,355 shares of the company’s stock valued at $61,000 after buying an additional 537 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Omnicell during the 3rd quarter valued at about $62,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.