Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Omnicell, Inc. (NASDAQ:OMCL – Free Report) by 22.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 618,121 shares of the company’s stock after acquiring an additional 111,861 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Omnicell were worth $45,516,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the business. Great Lakes Advisors LLC purchased a new position in shares of Omnicell during the second quarter worth approximately $13,360,000. Quadrant Capital Group LLC raised its stake in shares of Omnicell by 11.7% during the second quarter. Quadrant Capital Group LLC now owns 2,958 shares of the company’s stock worth $218,000 after acquiring an additional 311 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Omnicell by 14.6% in the second quarter. Russell Investments Group Ltd. now owns 49,665 shares of the company’s stock worth $3,658,000 after buying an additional 6,329 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Omnicell by 2.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 445,461 shares of the company’s stock worth $32,817,000 after buying an additional 12,002 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Omnicell by 14.2% in the second quarter. Dimensional Fund Advisors LP now owns 848,812 shares of the company’s stock worth $62,531,000 after buying an additional 105,578 shares during the period. 99.18% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
OMCL has been the topic of several analyst reports. StockNews.com initiated coverage on shares of Omnicell in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. TheStreet downgraded shares of Omnicell from a “c-” rating to a “d+” rating in a research note on Tuesday, October 24th. BTIG Research downgraded shares of Omnicell from a “buy” rating to a “neutral” rating in a research note on Friday, November 3rd. Benchmark decreased their target price on shares of Omnicell from $88.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, October 3rd. Finally, Wells Fargo & Company raised shares of Omnicell from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $39.00 to $28.00 in a research note on Friday, November 3rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $53.00.
Omnicell Stock Performance
NASDAQ:OMCL opened at $33.11 on Friday. The stock has a market cap 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. The firm’s fifty day simple moving average is $41.47 and its 200 day simple moving average is $58.24. Omnicell, Inc. has a twelve month low of $28.72 and a twelve month high of $77.14. The company has a quick ratio of 2.16, a current ratio of 2.47 and a debt-to-equity ratio of 0.48.
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.
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