Principal Financial Group Inc. Has $8.55 Million Holdings in Omnicell, Inc. (NASDAQ:OMCL)

Principal Financial Group Inc. increased its stake in Omnicell, Inc. (NASDAQ:OMCL) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 244,644 shares of the company’s stock after buying an additional 6,288 shares during the quarter. Principal Financial Group Inc. owned approximately 0.52% of Omnicell worth $8,553,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in OMCL. Charles Schwab Investment Management Inc. lifted its holdings in Omnicell by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 616,153 shares of the company’s stock valued at $27,431,000 after purchasing an additional 21,157 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Omnicell in the fourth quarter valued at about $1,542,000. PNC Financial Services Group Inc. raised its position in shares of Omnicell by 51.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,551 shares of the company’s stock valued at $470,000 after purchasing an additional 3,593 shares during the period. Amundi raised its position in shares of Omnicell by 56.0% in the fourth quarter. Amundi now owns 39,309 shares of the company’s stock valued at $1,694,000 after purchasing an additional 14,115 shares during the period. Finally, AlphaQuest LLC raised its position in shares of Omnicell by 307.8% in the fourth quarter. AlphaQuest LLC now owns 3,576 shares of the company’s stock valued at $159,000 after purchasing an additional 2,699 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Benchmark dropped their price objective on shares of Omnicell from $62.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Bank of America increased their price objective on shares of Omnicell from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, May 23rd. Piper Sandler reissued an “overweight” rating on shares of Omnicell in a research report on Friday, May 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Omnicell from $44.00 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Finally, Wall Street Zen raised shares of Omnicell from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $44.83.

Omnicell Trading Down 3.9%

OMCL stock opened at $27.57 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 1.38. The company’s 50-day simple moving average is $28.93 and its 200 day simple moving average is $34.50. Omnicell, Inc. has a 52 week low of $22.66 and a 52 week high of $55.75. The company has a market capitalization of $1.29 billion, a PE ratio of 59.94 and a beta of 0.76.

Omnicell (NASDAQ:OMCL) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.16 by $0.10. Omnicell had a net margin of 1.87% and a return on equity of 4.60%. The business had revenue of $269.67 million for the quarter, compared to the consensus estimate of $260.18 million. During the same period in the prior year, the company posted $0.03 earnings per share. Omnicell’s revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Omnicell, Inc. will post 1.09 earnings per share for the current year.

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.