Q3 2024 EPS Estimates for Omnicell, Inc. (NASDAQ:OMCL) Raised by Analyst

Omnicell, Inc. (NASDAQ:OMCL) – Stock analysts at Zacks Research raised their Q3 2024 EPS estimates for shares of Omnicell in a research note issued to investors on Tuesday, April 16th. Zacks Research analyst M. Mondal now anticipates 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.

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

Omnicell Stock Down 1.4 %

OMCL traded down $0.38 during trading on Wednesday, hitting $26.27. 412,368 shares of the company’s stock were exchanged, compared to its average volume of 550,040. The company has a quick ratio of 2.22, a current ratio of 2.52 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $27.88 and its two-hundred day moving average is $33.10. Omnicell has a fifty-two week low of $25.69 and a fifty-two week high of $77.14. The stock has a market cap of $1.21 billion, a P/E ratio of -58.84 and a beta of 0.76.

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

Hedge Funds Weigh In On Omnicell

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OMCL. Versant Capital Management Inc boosted its position in Omnicell by 561.4% during the third quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $25,000 after purchasing an additional 466 shares during the period. Belpointe Asset Management LLC boosted its position in Omnicell by 92.2% during the first quarter. Belpointe Asset Management LLC now owns 494 shares of the company’s stock worth $29,000 after purchasing an additional 237 shares during the period. KBC Group NV bought a new position in Omnicell during the fourth quarter worth about $38,000. Covestor Ltd boosted its position in Omnicell by 65.6% during the third quarter. Covestor Ltd now owns 1,355 shares of the company’s stock worth $61,000 after purchasing an additional 537 shares during the period. Finally, Acadian Asset Management LLC bought a new position in Omnicell during the third quarter worth about $62,000. 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.