Exchange Traded Concepts LLC Sells 281,524 Shares of Omnicell, Inc. (NASDAQ:OMCL)

Exchange Traded Concepts LLC lowered its stake in shares of Omnicell, Inc. (NASDAQ:OMCL - Free Report) by 88.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,158 shares of the company's stock after selling 281,524 shares during the quarter. Exchange Traded Concepts LLC owned about 0.08% of Omnicell worth $1,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in shares of Omnicell by 51.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 803 shares of the company's stock valued at $35,000 after buying an additional 273 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Omnicell during the fourth quarter valued at about $37,000. Van ECK Associates Corp increased its position in shares of Omnicell by 47.0% during the fourth quarter. Van ECK Associates Corp now owns 985 shares of the company's stock valued at $44,000 after buying an additional 315 shares during the period. Headlands Technologies LLC purchased a new position in shares of Omnicell during the fourth quarter valued at about $53,000. Finally, First Horizon Advisors Inc. increased its position in shares of Omnicell by 36.3% during the fourth quarter. First Horizon Advisors Inc. now owns 1,333 shares of the company's stock valued at $59,000 after buying an additional 355 shares during the period. Hedge funds and other institutional investors own 97.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wells Fargo & Company reissued an "overweight" rating and set a $37.00 price objective (up previously from $35.00) on shares of Omnicell in a research note on Friday, May 23rd. Bank of America boosted their price objective on shares of Omnicell from $30.00 to $34.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Omnicell from $44.00 to $36.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th. Piper Sandler reissued an "overweight" rating on shares of Omnicell in a research note on Friday, May 23rd. Finally, Benchmark dropped their price objective on shares of Omnicell from $62.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $44.83.

Omnicell Stock Down 0.8%

Shares of NASDAQ OMCL traded down $0.24 during midday trading on Friday, hitting $28.03. The stock had a trading volume of 695,716 shares, compared to its average volume of 570,028. The business's 50 day moving average is $29.45 and its 200-day moving average is $36.36. The company has a market cap of $1.31 billion, a P/E ratio of 60.94 and a beta of 0.78. Omnicell, Inc. has a 52 week low of $22.66 and a 52 week high of $55.75. The company has a quick ratio of 1.23, a current ratio of 1.38 and a debt-to-equity ratio of 0.13.

Omnicell (NASDAQ:OMCL - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.10. The firm had revenue of $269.67 million for the quarter, compared to the consensus estimate of $260.18 million. Omnicell had a net margin of 1.87% and a return on equity of 4.60%. The business's revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, analysts predict that Omnicell, Inc. will post 1.09 EPS for the current 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.