Omnicell, Inc. (NASDAQ:OMCL) Stake Cut by Primecap Management Co. CA

Primecap Management Co. CA decreased its holdings in shares of Omnicell, Inc. (NASDAQ:OMCL) by 9.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,769 shares of the company’s stock after selling 11,398 shares during the period. Primecap Management Co. CA owned about 0.24% of Omnicell worth $2,999,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Federated Hermes Inc. lifted its holdings in Omnicell by 1,113.6% in the second quarter. Federated Hermes Inc. now owns 991,151 shares of the company’s stock worth $26,830,000 after acquiring an additional 909,480 shares during the last quarter. Norges Bank bought a new stake in shares of Omnicell in the 4th quarter worth approximately $18,802,000. Vanguard Group Inc. boosted its position in Omnicell by 8.5% during the 4th quarter. Vanguard Group Inc. now owns 5,571,420 shares of the company’s stock valued at $209,653,000 after purchasing an additional 434,336 shares during the period. Champlain Investment Partners LLC grew its stake in Omnicell by 16.0% during the 1st quarter. Champlain Investment Partners LLC now owns 1,753,205 shares of the company’s stock worth $51,246,000 after buying an additional 241,235 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Omnicell by 61.3% in the second quarter. Assenagon Asset Management S.A. now owns 599,928 shares of the company’s stock worth $16,240,000 after buying an additional 228,093 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OMCL. Bank of America boosted 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. JPMorgan Chase & Co. upped their target price on shares of Omnicell from $26.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Wells Fargo & Company lifted their price target on Omnicell from $26.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. StockNews.com lowered Omnicell from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Benchmark reaffirmed a “buy” rating and set a $38.00 target price on shares of Omnicell in a research note on Monday, July 15th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $37.83.

Omnicell Price Performance

NASDAQ:OMCL opened at $42.78 on Thursday. Omnicell, Inc. has a 52-week low of $25.12 and a 52-week high of $56.05. The company has a quick ratio of 2.22, a current ratio of 2.45 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1.97 billion, a P/E ratio of -93.00, a PEG ratio of 47.22 and a beta of 0.83. The business’s 50-day moving average price is $38.52 and its 200 day moving average price is $32.04.

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

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.