Omnicell (NASDAQ:OMCL – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.90-1.40 for the period, compared to the consensus estimate of $1.67. The company issued revenue guidance of $1.045-1.120 billion, compared to the consensus revenue estimate of $1.10 billion. Omnicell also updated its FY 2024 guidance to 0.900-1.400 EPS.
Omnicell Price Performance
Shares of OMCL opened at $27.41 on Friday. Omnicell has a 1-year low of $26.66 and a 1-year high of $77.14. The firm has a 50-day simple moving average of $34.96 and a two-hundred day simple moving average of $43.08. The company has a current ratio of 2.52, a quick ratio of 2.16 and a debt-to-equity ratio of 0.48.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on OMCL shares. BTIG Research cut shares of Omnicell from a buy rating to a neutral rating in a research report on Friday, November 3rd. TheStreet cut shares of Omnicell from a c- rating to a d+ rating in a research report on Tuesday, October 24th. Piper Sandler upgraded shares of Omnicell from a neutral rating to an overweight rating and dropped their price target for the company from $70.00 to $39.00 in a research report on Friday, November 3rd. Wells Fargo & Company lowered their price objective on shares of Omnicell from $28.00 to $26.00 and set an equal weight rating for the company in a research note on Friday. Finally, Barclays began coverage on shares of Omnicell in a research note on Wednesday, January 3rd. They issued an underweight rating and a $33.00 price objective for the company. One research 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. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $42.20.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in OMCL. Norges Bank purchased a new position in Omnicell in the fourth quarter worth approximately $22,291,000. Rockefeller Capital Management L.P. lifted its stake in Omnicell by 698.2% in the first quarter. Rockefeller Capital Management L.P. now owns 272,768 shares of the company’s stock worth $16,003,000 after acquiring an additional 238,593 shares during the last quarter. Legal & General Group Plc lifted its stake in Omnicell by 71.6% in the fourth quarter. Legal & General Group Plc now owns 342,525 shares of the company’s stock worth $17,270,000 after acquiring an additional 142,907 shares during the last quarter. Macquarie Group Ltd. lifted its stake in Omnicell by 12.5% in 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 last quarter. Finally, Two Sigma Investments LP lifted its stake in Omnicell by 330.4% in the fourth quarter. Two Sigma Investments LP now owns 151,918 shares of the company’s stock worth $7,660,000 after acquiring an additional 116,620 shares during the last quarter. Hedge funds and other institutional investors 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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