Omnicell, Inc. (NASDAQ:OMCL) to Post Q3 2024 Earnings of $0.11 Per Share, Zacks Research Forecasts

Omnicell, Inc. (NASDAQ:OMCL) – Equities research analysts at Zacks Research boosted their Q3 2024 earnings per share estimates for shares of Omnicell in a report released on Tuesday, April 16th. Zacks Research analyst M. Mondal now anticipates that the company will post earnings per share of $0.11 for the quarter, up from their prior estimate of $0.08. The consensus estimate for Omnicell’s current full-year earnings is $0.10 per share.

A number of other research analysts have also recently commented on the company. Benchmark lowered their price target on Omnicell from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, February 9th. Barclays began coverage on Omnicell in a research report on Wednesday, January 3rd. They set an “underweight” rating and a $33.00 price objective for the company. Finally, Wells Fargo & Company cut their price target on Omnicell from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Omnicell currently has a consensus rating of “Hold” and an average target price of $42.20.

Omnicell Price Performance

NASDAQ OMCL opened at $26.27 on Wednesday. The company has a current ratio of 2.52, a quick ratio of 2.22 and a debt-to-equity ratio of 0.48. Omnicell has a 12 month low of $25.69 and a 12 month high of $77.14. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -58.38 and a beta of 0.76. The company’s 50 day moving average is $27.76 and its two-hundred day moving average is $33.05.

Omnicell (NASDAQ:OMCL) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.22. Omnicell had a positive return on equity of 3.43% and a negative net margin of 1.78%. The firm had revenue of $258.85 million for the quarter, compared to the consensus estimate of $256.00 million.

Institutional Investors Weigh In On Omnicell

Several large investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its holdings in shares of Omnicell by 561.4% in the third quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $25,000 after acquiring an additional 466 shares in the last quarter. Belpointe Asset Management LLC lifted its holdings in Omnicell by 92.2% during the first quarter. Belpointe Asset Management LLC now owns 494 shares of the company’s stock worth $29,000 after buying an additional 237 shares during the period. KBC Group NV purchased a new stake in shares of Omnicell during the 4th quarter worth $38,000. Covestor Ltd boosted its position in Omnicell by 65.6% during the third quarter. Covestor Ltd now owns 1,355 shares of the company’s stock valued at $61,000 after purchasing an additional 537 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Omnicell in the third quarter valued at about $62,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.