Arizona State Retirement System Raises Holdings in Omnicell, Inc. (NASDAQ:OMCL)

Arizona State Retirement System lifted its holdings in shares of Omnicell, Inc. (NASDAQ:OMCL) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,853 shares of the company’s stock after purchasing an additional 357 shares during the period. Arizona State Retirement System’s holdings in Omnicell were worth $348,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Panagora Asset Management Inc. purchased a new position in shares of Omnicell during the 4th quarter worth approximately $1,319,000. Vanguard Group Inc. grew its stake in Omnicell by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 5,651,732 shares of the company’s stock worth $165,200,000 after acquiring an additional 80,312 shares during the period. Mutual of America Capital Management LLC grew its stake in Omnicell by 197.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 124,600 shares of the company’s stock worth $3,642,000 after acquiring an additional 82,774 shares during the period. Assenagon Asset Management S.A. grew its stake in Omnicell by 61.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 599,928 shares of the company’s stock worth $16,240,000 after acquiring an additional 228,093 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Omnicell in the 1st quarter worth approximately $684,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on OMCL shares. JPMorgan Chase & Co. lifted their target price on shares of Omnicell from $26.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Barclays raised shares of Omnicell from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $26.00 to $39.00 in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price target on shares of Omnicell from $26.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Bank of America lifted their price target on shares of Omnicell from $34.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded shares of Omnicell from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.83.

Omnicell Stock Performance

NASDAQ:OMCL opened at $44.92 on Wednesday. The company has a current ratio of 2.45, a quick ratio of 2.22 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -97.65, a PEG ratio of 47.22 and a beta of 0.83. The firm’s fifty day simple moving average is $38.17 and its 200 day simple moving average is $31.96. Omnicell, Inc. has a twelve month low of $25.12 and a twelve month high of $56.05.

Omnicell (NASDAQ:OMCL) last posted its earnings results on Thursday, August 1st. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.37. Omnicell had a negative net margin of 1.92% and a positive return on equity of 2.52%. The business had revenue of $276.80 million for the quarter, compared to analyst estimates of $254.41 million. During the same quarter in the previous year, the business posted $0.29 EPS. The business’s quarterly revenue was down 7.4% on a year-over-year basis. As a group, equities research analysts expect that Omnicell, Inc. will post 0.64 earnings per share for the current fiscal year.

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.