Omnicell (NASDAQ:OMCL) Shares Gap Down Following Weak Earnings

Omnicell, Inc. (NASDAQ:OMCL) gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. 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 trading hands.

The company reported $0.45 earnings per share (EPS) 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%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. StockNews.com lowered Omnicell from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Bank of America cut their price target on shares of Omnicell from $54.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Benchmark restated a “buy” rating and issued a $62.00 price objective on shares of Omnicell in a report on Tuesday. Wells Fargo & Company cut their target price on shares of Omnicell from $49.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Craig Hallum increased their price target on shares of Omnicell from $45.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $52.33.

Insider Activity

In other news, Director Mark W. Parrish sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $47.30, for a total value of $567,600.00. Following the sale, the director now directly owns 58,427 shares of the company’s stock, valued at $2,763,597.10. The trade was a 17.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.64% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its position in Omnicell by 10.3% during the 2nd quarter. AQR Capital Management LLC now owns 49,071 shares of the company’s stock valued at $1,328,000 after purchasing an additional 4,572 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Omnicell by 6.2% in the second quarter. The Manufacturers Life Insurance Company now owns 23,459 shares of the company’s stock worth $635,000 after buying an additional 1,360 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Omnicell by 67.3% during the third quarter. SG Americas Securities LLC now owns 25,157 shares of the company’s stock valued at $1,097,000 after buying an additional 10,116 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Omnicell by 78.4% during the third quarter. GAMMA Investing LLC now owns 1,258 shares of the company’s stock valued at $55,000 after acquiring an additional 553 shares in the last quarter. Finally, Creative Planning raised its holdings in Omnicell by 23.1% in the 3rd quarter. Creative Planning now owns 11,667 shares of the company’s stock worth $509,000 after acquiring an additional 2,188 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Omnicell Stock Performance

The firm has a 50-day moving average of $44.52 and a 200-day moving average of $43.23. The firm has a market capitalization of $1.83 billion, a P/E ratio of -101.10, 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.