Omnicell (NASDAQ:OMCL) Shares Gap Down – Here’s What Happened

Omnicell, Inc. (NASDAQ:OMCL)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $35.71, but opened at $33.92. Omnicell shares last traded at $34.07, with a volume of 60,518 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on OMCL shares. JPMorgan Chase & Co. raised their price target on shares of Omnicell from $37.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Wells Fargo & Company dropped their price target on Omnicell from $49.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. StockNews.com raised Omnicell from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Bank of America decreased their price objective on Omnicell from $54.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, Benchmark restated a “buy” rating and issued a $62.00 target price on shares of Omnicell in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $52.33.

Omnicell Stock Down 8.4 %

The company has a market cap of $1.53 billion, a PE ratio of 121.13, a P/E/G ratio of 7.53 and a beta of 0.85. The stock has a 50-day moving average of $41.42 and a 200-day moving average of $43.53. The company has a quick ratio of 1.22, a current ratio of 1.37 and a debt-to-equity ratio of 0.13.

Omnicell (NASDAQ:OMCL) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.12). Omnicell had a net margin of 1.13% and a return on equity of 3.82%. Sell-side analysts predict that Omnicell, Inc. will post 1.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Omnicell

A number of institutional investors have recently made changes to their positions in the stock. QRG Capital Management Inc. purchased a new stake in Omnicell during the third quarter valued at about $231,000. Summit Global Investments purchased a new position in shares of Omnicell during the 3rd quarter valued at about $221,000. Apollon Wealth Management LLC purchased a new position in shares of Omnicell during the 3rd quarter valued at about $249,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in Omnicell in the 3rd quarter worth approximately $32,721,000. Finally, Victory Capital Management Inc. boosted its stake in Omnicell by 11,982.3% in the third quarter. Victory Capital Management Inc. now owns 1,148,426 shares of the company’s stock worth $50,071,000 after buying an additional 1,138,921 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

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.