Omnicell (NASDAQ:OMCL – Get Free Report) updated its first quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $(0.10)-$0.00 for the period, compared to the consensus estimate of $0.33. The company issued revenue guidance of $232-242 million, compared to the consensus revenue estimate of $262.37 million. Omnicell also updated its FY 2024 guidance to 0.900-1.400 EPS.
Analyst Ratings Changes
A number of research firms recently issued reports on OMCL. Barclays began coverage on Omnicell in a research report on Wednesday, January 3rd. They issued an underweight rating and a $33.00 target price on the stock. Piper Sandler raised Omnicell from a neutral rating to an overweight rating and lowered their target price for the company from $70.00 to $39.00 in a research report on Friday, November 3rd. Benchmark lowered their target price on Omnicell from $42.00 to $38.00 and set a buy rating on the stock in a research report on Friday. BTIG Research downgraded Omnicell from a buy rating to a neutral rating in a research report on Friday, November 3rd. Finally, Wells Fargo & Company lowered their target price on Omnicell from $28.00 to $26.00 and set an equal weight rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Omnicell presently has a consensus rating of Hold and an average price target of $42.20.
Omnicell Stock Performance
Hedge Funds Weigh In On Omnicell
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Omnicell by 0.3% during the first quarter. Vanguard Group Inc. now owns 4,752,906 shares of the company’s stock worth $615,453,000 after acquiring an additional 12,413 shares during the period. Macquarie Group Ltd. boosted its holdings in shares of Omnicell by 12.5% during the second quarter. Macquarie Group Ltd. now owns 1,218,279 shares of the company’s stock worth $138,579,000 after acquiring an additional 135,360 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Omnicell by 8.9% during the first quarter. Clearbridge Investments LLC now owns 1,136,664 shares of the company’s stock worth $147,187,000 after acquiring an additional 92,567 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Omnicell by 5.2% during the first quarter. Geode Capital Management LLC now owns 880,970 shares of the company’s stock worth $51,687,000 after acquiring an additional 43,600 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Omnicell by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 848,688 shares of the company’s stock worth $109,901,000 after acquiring an additional 4,839 shares during the period. Institutional investors and hedge funds own 99.18% of the company’s stock.
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.
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