Equities Analysts Offer Predictions for Omnicell, Inc.’s Q2 2024 Earnings (NASDAQ:OMCL)

Omnicell, Inc. (NASDAQ:OMCL) – Research analysts at Zacks Research cut their Q2 2024 earnings estimates for shares of Omnicell in a note issued to investors on Wednesday, July 24th. Zacks Research analyst U. Biswas now expects that the company will earn ($0.03) per share for the quarter, down from their prior estimate of $0.01. The consensus estimate for Omnicell’s current full-year earnings is $0.26 per share. Zacks Research also issued estimates for Omnicell’s FY2024 earnings at $0.18 EPS, Q2 2025 earnings at $0.12 EPS, FY2025 earnings at $0.51 EPS and Q2 2026 earnings at $0.09 EPS.

Other analysts have also recently issued reports about the stock. StockNews.com cut shares of Omnicell from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Benchmark reiterated a “buy” rating and issued a $38.00 target price on shares of Omnicell in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $42.20.

Omnicell Stock Down 1.1 %

Shares of OMCL stock opened at $29.29 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.13 and a current ratio of 2.38. The firm’s 50 day moving average is $28.74 and its 200 day moving average is $29.20. Omnicell has a 12 month low of $25.12 and a 12 month high of $66.65.

Omnicell (NASDAQ:OMCL) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.17. The company had revenue of $246.15 million for the quarter, compared to analysts’ expectations of $235.70 million. Omnicell had a negative net margin of 1.91% and a positive return on equity of 2.41%.

Institutional Trading of Omnicell

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Omnicell by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,651,732 shares of the company’s stock valued at $165,200,000 after buying an additional 80,312 shares in the last quarter. Champlain Investment Partners LLC raised its position in shares of Omnicell by 16.0% during the 1st quarter. Champlain Investment Partners LLC now owns 1,753,205 shares of the company’s stock valued at $51,246,000 after buying an additional 241,235 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Omnicell by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,067,516 shares of the company’s stock valued at $40,173,000 after buying an additional 21,798 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Omnicell by 3.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 638,646 shares of the company’s stock valued at $24,032,000 after buying an additional 19,601 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Omnicell by 61.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 599,928 shares of the company’s stock valued at $16,240,000 after purchasing an additional 228,093 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

About Omnicell

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.