Bank of New York Mellon Corp Reduces Stock Position in Omnicell, Inc. (NASDAQ:OMCL)

Bank of New York Mellon Corp lowered its stake in shares of Omnicell, Inc. (NASDAQ:OMCL - Free Report) by 48.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 332,630 shares of the company's stock after selling 307,142 shares during the period. Bank of New York Mellon Corp owned 0.71% of Omnicell worth $11,629,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Summit Investment Advisors Inc. raised its position in shares of Omnicell by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,774 shares of the company's stock worth $213,000 after buying an additional 307 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in shares of Omnicell by 0.5% in the fourth quarter. Hillsdale Investment Management Inc. now owns 92,897 shares of the company's stock worth $4,136,000 after buying an additional 420 shares in the last quarter. Diversified Trust Co raised its position in shares of Omnicell by 2.3% in the first quarter. Diversified Trust Co now owns 22,660 shares of the company's stock worth $792,000 after buying an additional 513 shares in the last quarter. Bridge City Capital LLC raised its position in shares of Omnicell by 1.6% in the first quarter. Bridge City Capital LLC now owns 40,136 shares of the company's stock worth $1,403,000 after buying an additional 650 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Omnicell by 0.9% in the fourth quarter. Swiss National Bank now owns 90,500 shares of the company's stock worth $4,029,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 97.70% of the company's stock.

Analyst Upgrades and Downgrades

OMCL has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on Omnicell from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Monday. Benchmark reduced their target price on Omnicell from $62.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen raised Omnicell from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 12th. Piper Sandler reissued an "overweight" rating on shares of Omnicell in a research note on Friday, May 23rd. Finally, Bank of America increased their target price on Omnicell from $30.00 to $34.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Omnicell has a consensus rating of "Moderate Buy" and a consensus price target of $45.33.

Omnicell Trading Down 0.2%

Shares of NASDAQ:OMCL traded down $0.07 on Thursday, reaching $28.13. 503,352 shares of the company traded hands, compared to its average volume of 429,331. The business's 50-day simple moving average is $29.10 and its 200 day simple moving average is $33.72. Omnicell, Inc. has a 52 week low of $22.66 and a 52 week high of $55.74. The stock has a market capitalization of $1.32 billion, a P/E ratio of 61.15, a price-to-earnings-growth ratio of 8.23 and a beta of 0.76. The company has a current ratio of 1.38, a quick ratio of 1.23 and a debt-to-equity ratio of 0.13.

Omnicell (NASDAQ:OMCL - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.10. Omnicell had a return on equity of 4.60% and a net margin of 1.87%. The firm had revenue of $269.67 million for the quarter, compared to analysts' expectations of $260.18 million. During the same period last year, the firm earned $0.03 earnings per share. The company's revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities analysts anticipate that Omnicell, Inc. will post 1.09 EPS for the current fiscal year.

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; and robotic dispensing systems for handling the stocking and retrieval of boxed medications.