Bank of America Corp DE Sells 132,953 Shares of Omnicell, Inc. (NASDAQ:OMCL)

Bank of America Corp DE lowered its stake in Omnicell, Inc. (NASDAQ:OMCL - Free Report) by 31.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 296,415 shares of the company's stock after selling 132,953 shares during the quarter. Bank of America Corp DE owned about 0.64% of Omnicell worth $13,196,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Smartleaf Asset Management LLC increased its holdings in shares of Omnicell by 51.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 803 shares of the company's stock worth $35,000 after purchasing an additional 273 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Omnicell during the 4th quarter valued at approximately $37,000. Van ECK Associates Corp increased its stake in Omnicell by 47.0% in the 4th quarter. Van ECK Associates Corp now owns 985 shares of the company's stock worth $44,000 after acquiring an additional 315 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Omnicell during the 4th quarter worth approximately $53,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of Omnicell by 36.3% during the 4th quarter. First Horizon Advisors Inc. now owns 1,333 shares of the company's stock worth $59,000 after acquiring an additional 355 shares in the last quarter. Institutional investors own 97.70% of the company's stock.

Omnicell Trading Up 4.9%

Shares of OMCL traded up $1.38 during midday trading on Tuesday, hitting $29.61. The stock had a trading volume of 689,821 shares, compared to its average volume of 565,477. The stock's 50 day moving average is $30.70 and its 200 day moving average is $38.41. The firm has a market cap of $1.39 billion, a PE ratio of 109.67, a price-to-earnings-growth ratio of 7.53 and a beta of 0.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.37 and a quick ratio of 1.22. Omnicell, Inc. has a 1 year low of $22.66 and a 1 year high of $55.75.

Omnicell (NASDAQ:OMCL - Get Free Report) last issued 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. The company had revenue of $269.67 million for the quarter, compared to the consensus estimate of $260.18 million. Omnicell had a net margin of 1.13% and a return on equity of 3.82%. The firm's revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.03 EPS. As a group, analysts forecast that Omnicell, Inc. will post 1.09 EPS for the current fiscal year.

Analysts Set New Price Targets

OMCL has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target 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. Benchmark reduced their target price on shares of Omnicell from $62.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of Omnicell from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Piper Sandler reiterated an "overweight" rating on shares of Omnicell in a research report on Friday. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $37.00 price objective (up from $35.00) on shares of Omnicell in a research note on Friday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Omnicell has an average rating of "Moderate Buy" and an average price target of $44.83.

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.