Bank of New York Mellon Corp Lowers Holdings in Omnicell, Inc. (NASDAQ:OMCL)

Bank of New York Mellon Corp reduced its holdings in shares of Omnicell, Inc. (NASDAQ:OMCL - Free Report) by 48.0% during the 1st quarter, according to the company in its most recent 13F filing with the 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 about 0.71% of Omnicell worth $11,629,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Principal Financial Group Inc. raised its stake in shares of Omnicell by 2.6% in the first quarter. Principal Financial Group Inc. now owns 244,644 shares of the company's stock worth $8,553,000 after acquiring an additional 6,288 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Omnicell by 10.2% in the first quarter. Illinois Municipal Retirement Fund now owns 26,550 shares of the company's stock worth $928,000 after acquiring an additional 2,456 shares during the last quarter. Diversified Trust Co raised its stake 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 acquiring an additional 513 shares during the last quarter. Accurate Wealth Management LLC raised its stake in shares of Omnicell by 27.4% in the first quarter. Accurate Wealth Management LLC now owns 36,131 shares of the company's stock worth $1,263,000 after acquiring an additional 7,762 shares during the last quarter. Finally, Bridge City Capital LLC raised its stake 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 acquiring an additional 650 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Omnicell Stock Performance

Shares of OMCL stock traded up $0.23 on Tuesday, hitting $28.26. The company's stock had a trading volume of 469,646 shares, compared to its average volume of 563,879. The company has a market capitalization of $1.32 billion, a PE ratio of 61.44, a PEG ratio of 7.84 and a beta of 0.76. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 1.38. Omnicell, Inc. has a fifty-two week low of $22.66 and a fifty-two week high of $55.75. The stock's 50 day moving average is $29.10 and its 200-day moving average is $34.04.

Omnicell (NASDAQ:OMCL - Get Free Report) last issued 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. The business had revenue of $269.67 million during the quarter, compared to analyst estimates of $260.18 million. Omnicell had a net margin of 1.87% and a return on equity of 4.60%. The firm's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the business earned $0.03 EPS. Equities research analysts expect that Omnicell, Inc. will post 1.09 earnings per share for the current fiscal year.

Omnicell 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.