Fred Alger Management LLC Invests $895,000 in Omnicell, Inc. (NASDAQ:OMCL)

Fred Alger Management LLC bought a new position in shares of Omnicell, Inc. (NASDAQ:OMCL - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 20,109 shares of the company's stock, valued at approximately $895,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Shaker Investments LLC OH bought a new stake in Omnicell in the 4th quarter valued at about $550,000. Empowered Funds LLC bought a new stake in Omnicell in the 4th quarter valued at about $388,000. Exchange Traded Concepts LLC increased its position in Omnicell by 6.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 319,682 shares of the company's stock valued at $14,232,000 after buying an additional 20,031 shares in the last quarter. SG Americas Securities LLC increased its position in Omnicell by 56.5% in the 4th quarter. SG Americas Securities LLC now owns 39,359 shares of the company's stock valued at $1,752,000 after buying an additional 14,202 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Omnicell in the 4th quarter valued at about $201,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Omnicell Price Performance

Shares of Omnicell stock traded up $0.29 during trading on Friday, hitting $28.37. The stock had a trading volume of 169,946 shares, compared to its average volume of 582,322. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 104.95, a P/E/G ratio of 7.53 and a beta of 0.78. Omnicell, Inc. has a 12 month low of $22.66 and a 12 month high of $55.74. The business's 50-day moving average is $31.57 and its 200 day moving average is $39.64. The company has a current ratio of 1.37, a quick ratio of 1.22 and a debt-to-equity ratio of 0.13.

Omnicell (NASDAQ:OMCL - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.10. The business had revenue of $269.67 million for the quarter, compared to analysts' expectations of $260.18 million. Omnicell had a return on equity of 3.82% and a net margin of 1.13%. The firm's revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 earnings per share. As a group, sell-side analysts anticipate that Omnicell, Inc. will post 1.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

OMCL has been the subject of a number of analyst reports. StockNews.com downgraded Omnicell from a "buy" rating to a "hold" rating in a research note on Saturday, May 3rd. JPMorgan Chase & Co. cut their price target on Omnicell from $44.00 to $36.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. Wells Fargo & Company upgraded Omnicell from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $31.00 to $35.00 in a research note on Wednesday. Finally, Benchmark cut their target price on Omnicell from $62.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $46.50.

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.