Edgestream Partners L.P. Buys 21,322 Shares of Omnicell, Inc. (NASDAQ:OMCL)

Edgestream Partners L.P. boosted its stake in Omnicell, Inc. (NASDAQ:OMCL) by 179.0% during the 2nd quarter, Holdings Channel reports. The firm owned 33,237 shares of the company’s stock after buying an additional 21,322 shares during the quarter. Edgestream Partners L.P.’s holdings in Omnicell were worth $2,449,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Belpointe Asset Management LLC increased its holdings in shares of Omnicell by 92.2% in 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 last quarter. Nisa Investment Advisors LLC grew its holdings in Omnicell by 210.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,299 shares of the company’s stock valued at $76,000 after buying an additional 880 shares in the last quarter. CWM LLC increased its stake in Omnicell by 12.5% in the 1st quarter. CWM LLC now owns 1,733 shares of the company’s stock worth $102,000 after acquiring an additional 193 shares during the last quarter. Covestor Ltd raised its holdings in shares of Omnicell by 424.2% during the 1st quarter. Covestor Ltd now owns 844 shares of the company’s stock worth $109,000 after acquiring an additional 683 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in shares of Omnicell during the 2nd quarter valued at approximately $168,000. Hedge funds and other institutional investors own 99.18% of the company’s stock.

Omnicell Stock Performance

Omnicell stock opened at $33.11 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.47 and a quick ratio of 2.16. The firm has a market capitalization of $1.51 billion, a P/E ratio of -43.00, a price-to-earnings-growth ratio of 4.86 and a beta of 0.95. Omnicell, Inc. has a 1-year low of $28.72 and a 1-year high of $77.14. The company’s 50-day moving average is $41.47 and its 200 day moving average is $58.24.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. BTIG Research cut shares of Omnicell from a “buy” rating to a “neutral” rating in a research report on Friday, November 3rd. TheStreet downgraded shares of Omnicell from a “c-” rating to a “d+” rating in a report on Tuesday, October 24th. StockNews.com started coverage on shares of Omnicell in a report on Thursday, October 5th. They issued a “hold” rating for the company. Benchmark decreased their price objective on Omnicell from $88.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, October 3rd. Finally, Piper Sandler upgraded Omnicell from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $70.00 to $39.00 in a report on Friday, November 3rd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $53.00.

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; Omnicell Interface Software that offers interface and integration between its medication-use products or supply products, and a healthcare facility's in-house information management systems; and robotic dispensing systems for handling the stocking and retrieval of boxed medications.