Connor Clark & Lunn Investment Management Ltd. Boosts Stock Holdings in Omnicell, Inc. (NASDAQ:OMCL)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Omnicell by 5.7%, acquiring an additional 24,301 shares, bringing its total ownership to 453,988 shares valued at approximately $15.87 million.
• Omnicell's stock is currently down 0.6%, trading at $30.83, with a 52-week range of $22.66 to $55.74, and a market capitalization of $1.42 billion.
• The company reported earnings of $0.45 per share for the last quarter, outperforming the consensus estimate of $0.30, with revenues of $290.56 million, reflecting a 5% year-over-year increase.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Omnicell, Inc. (NASDAQ:OMCL - Free Report) by 5.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 453,988 shares of the company's stock after acquiring an additional 24,301 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.97% of Omnicell worth $15,871,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Principal Financial Group Inc. lifted 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 buying an additional 6,288 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Omnicell in the first quarter worth approximately $2,073,000. Jane Street Group LLC lifted its stake in shares of Omnicell by 7.4% in the fourth quarter. Jane Street Group LLC now owns 54,282 shares of the company's stock worth $2,417,000 after buying an additional 3,725 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Omnicell by 2.4% in the fourth quarter. Invesco Ltd. now owns 219,453 shares of the company's stock worth $9,770,000 after buying an additional 5,063 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Omnicell in the first quarter worth approximately $901,000. Institutional investors own 97.70% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on OMCL. Wall Street Zen cut shares of Omnicell from a "strong-buy" rating to a "buy" rating in a report on Saturday. Piper Sandler set a $55.00 price objective on shares of Omnicell and gave the company an "overweight" rating in a report on Monday. 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. Benchmark decreased their price objective 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. Finally, Wells Fargo & Company upped their target price on shares of Omnicell from $37.00 to $40.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Omnicell has a consensus rating of "Moderate Buy" and an average target price of $46.71.

Omnicell Price Performance

Shares of NASDAQ OMCL traded up $0.71 during midday trading on Tuesday, reaching $31.54. The stock had a trading volume of 495,960 shares, compared to its average volume of 598,879. The stock has a 50-day moving average of $29.42 and a 200-day moving average of $32.53. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.24 and a current ratio of 1.42. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 63.08, a price-to-earnings-growth ratio of 9.00 and a beta of 0.78. Omnicell, Inc. has a 12-month low of $22.66 and a 12-month high of $55.74.

Omnicell (NASDAQ:OMCL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.15. The firm had revenue of $290.56 million during the quarter, compared to analysts' expectations of $275.57 million. Omnicell had a net margin of 2.01% and a return on equity of 4.27%. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 earnings per share. As a group, research analysts anticipate that Omnicell, Inc. will post 1.09 EPS for the current fiscal 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.