Omnicell, Inc. $OMCL Stock Holdings Boosted by Redmond Asset Management LLC

Key Points

• Redmond Asset Management LLC increased its stake in Omnicell, Inc. by 16.4% during Q1, owning 141,111 shares valued at approximately $4.93 million.
• Several other hedge funds, including Summit Investment Advisors Inc. and Diversified Trust Co., have also adjusted their stakes, indicating a growing interest from institutional investors who own 97.70% of the company's stock.
• Omnicell reported earnings of $0.45 EPS for the quarter, exceeding estimates, with revenue of $290.56 million and a year-over-year revenue increase of 5.0%.

Redmond Asset Management LLC grew its holdings in Omnicell, Inc. (NASDAQ:OMCL - Free Report) by 16.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,111 shares of the company's stock after buying an additional 19,902 shares during the quarter. Omnicell comprises 1.3% of Redmond Asset Management LLC's investment portfolio, making the stock its 18th biggest holding. Redmond Asset Management LLC owned 0.30% of Omnicell worth $4,933,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Alliancebernstein L.P. raised its holdings in shares of Omnicell by 4.3% in the fourth quarter. Alliancebernstein L.P. now owns 55,922 shares of the company's stock worth $2,490,000 after acquiring an additional 2,316 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Omnicell by 27.3% in the fourth quarter. Wells Fargo & Company MN now owns 132,252 shares of the company's stock valued at $5,888,000 after purchasing an additional 28,390 shares during the period. Invesco Ltd. grew its position in shares of Omnicell by 2.4% in the fourth quarter. Invesco Ltd. now owns 219,453 shares of the company's stock valued at $9,770,000 after purchasing an additional 5,063 shares during the period. Sterling Capital Management LLC grew its position in shares of Omnicell by 11.1% in the fourth quarter. Sterling Capital Management LLC now owns 12,838 shares of the company's stock valued at $572,000 after purchasing an additional 1,280 shares during the period. Finally, Summit Investment Advisors Inc. grew 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 valued at $213,000 after purchasing an additional 307 shares during the period. 97.70% of the stock is owned by institutional investors and hedge funds.

Omnicell Stock Up 0.7%

OMCL traded up $0.22 on Friday, reaching $31.69. The company's stock had a trading volume of 680,602 shares, compared to its average volume of 607,039. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 63.38, a price-to-earnings-growth ratio of 9.25 and a beta of 0.78. Omnicell, Inc. has a 1 year low of $22.66 and a 1 year high of $55.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.42 and a quick ratio of 1.24. The business's 50 day moving average is $29.45 and its 200 day moving average is $32.16.

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, beating the consensus estimate of $0.30 by $0.15. Omnicell had a return on equity of 4.27% and a net margin of 2.01%. The firm had revenue of $290.56 million for the quarter, compared to analysts' expectations of $275.57 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Omnicell's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, research analysts forecast that Omnicell, Inc. will post 1.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on OMCL shares. Wall Street Zen downgraded Omnicell from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Bank of America boosted their price target on Omnicell from $30.00 to $34.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Wells Fargo & Company boosted their price target on Omnicell from $37.00 to $40.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Benchmark lowered their price target on Omnicell from $62.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Piper Sandler set a $55.00 price target on Omnicell and gave the company an "overweight" rating in a research report on Monday, August 11th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $46.71.

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.