Omnicell (NASDAQ:OMCL) Shares Gap Down After Earnings Miss

Shares of Omnicell, Inc. (NASDAQ:OMCL) gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $44.38, but opened at $42.07. Omnicell shares last traded at $44.83, with a volume of 50,800 shares traded.

The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.12). Omnicell had a positive return on equity of 2.55% and a negative net margin of 1.66%.

Analyst Upgrades and Downgrades

OMCL has been the topic of several recent analyst reports. Bank of America reduced their target price on Omnicell from $54.00 to $46.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company cut their price objective on shares of Omnicell from $49.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Barclays lifted their target price on shares of Omnicell from $39.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Benchmark reaffirmed a “buy” rating and issued a $62.00 price target on shares of Omnicell in a report on Tuesday. Finally, StockNews.com lowered shares of Omnicell from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $52.33.

Insider Buying and Selling

In other news, Director Mark W. Parrish sold 12,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $47.30, for a total transaction of $567,600.00. Following the transaction, the director now owns 58,427 shares of the company’s stock, valued at approximately $2,763,597.10. The trade was a 17.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.64% of the stock is owned by company insiders.

Institutional Trading of Omnicell

Hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC increased its holdings in Omnicell by 51.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 803 shares of the company’s stock valued at $35,000 after buying an additional 273 shares during the last quarter. Van ECK Associates Corp boosted its stake in Omnicell by 47.0% in the fourth quarter. Van ECK Associates Corp now owns 985 shares of the company’s stock valued at $44,000 after acquiring an additional 315 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Omnicell by 78.4% during the third quarter. GAMMA Investing LLC now owns 1,258 shares of the company’s stock worth $55,000 after purchasing an additional 553 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Omnicell by 36.3% during the fourth quarter. First Horizon Advisors Inc. now owns 1,333 shares of the company’s stock worth $59,000 after purchasing an additional 355 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Omnicell by 60.8% in the 4th quarter. KBC Group NV now owns 2,057 shares of the company’s stock valued at $92,000 after purchasing an additional 778 shares during the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Omnicell Stock Performance

The business has a 50-day moving average of $44.60 and a 200-day moving average of $43.22. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -115.22, a PEG ratio of 30.78 and a beta of 0.78.

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.