Federated Hermes Inc. Cuts Stake in Omnicell, Inc. (NASDAQ:OMCL)

Key Points

• Federated Hermes Inc. reduced its stake in Omnicell, Inc. by 5.2%, now holding 746,499 shares worth approximately $26.1 million.
• Multiple hedge funds significantly increased their positions in Omnicell during the fourth quarter, with Lazard Asset Management boosting its stake by 81.6% and Dimensional Fund Advisors increasing by 31.6%.
• Research firms have varied opinions on Omnicell, with price target adjustments ranging from $30.00 to $62.00, and a consensus rating of "Moderate Buy" at an average price target of $45.33.

Federated Hermes Inc. lowered its position in Omnicell, Inc. (NASDAQ:OMCL - Free Report) by 5.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 746,499 shares of the company's stock after selling 41,248 shares during the period. Federated Hermes Inc. owned about 1.59% of Omnicell worth $26,098,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Johnson Financial Group Inc. purchased a new stake in shares of Omnicell during the 4th quarter valued at about $37,000. Headlands Technologies LLC bought a new position in Omnicell in the 4th quarter worth about $53,000. Huntington National Bank grew its stake in Omnicell by 236.4% in the 4th quarter. Huntington National Bank now owns 1,359 shares of the company's stock worth $61,000 after acquiring an additional 955 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Omnicell during the fourth quarter valued at approximately $101,000. Finally, Corton Capital Inc. bought a new position in shares of Omnicell during the fourth quarter valued at approximately $208,000. Hedge funds and other institutional investors own 97.70% of the company's stock.

Omnicell Stock Performance

Shares of NASDAQ:OMCL traded up $1.27 on Monday, hitting $31.03. 138,396 shares of the company were exchanged, compared to its average volume of 565,326. Omnicell, Inc. has a 1-year low of $22.66 and a 1-year high of $55.74. The stock's 50 day moving average price is $29.27 and its 200 day moving average price is $33.05. The company has a current ratio of 1.42, a quick ratio of 1.24 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.45 billion, a P/E ratio of 62.05, a price-to-earnings-growth ratio of 8.69 and a beta of 0.78.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on OMCL shares. Wells Fargo & Company increased their price objective on shares of Omnicell from $37.00 to $40.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Wall Street Zen raised shares of Omnicell from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 12th. Piper Sandler reissued an "overweight" rating on shares of Omnicell in a research report on Friday, May 23rd. Benchmark decreased their target price on shares of Omnicell from $62.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Bank of America increased their target price on shares of Omnicell from $30.00 to $34.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.33.

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.