Fred Alger Management LLC Makes New Investment in Omnicell, Inc. (NASDAQ:OMCL)

Fred Alger Management LLC purchased a new position in Omnicell, Inc. (NASDAQ:OMCL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,109 shares of the company's stock, valued at approximately $895,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Deutsche Bank AG raised its holdings in Omnicell by 23.0% in the fourth quarter. Deutsche Bank AG now owns 52,493 shares of the company's stock worth $2,337,000 after purchasing an additional 9,822 shares in the last quarter. Corton Capital Inc. acquired a new stake in Omnicell during the 4th quarter worth about $208,000. Cubist Systematic Strategies LLC purchased a new stake in Omnicell during the 4th quarter valued at about $7,795,000. Caption Management LLC acquired a new position in shares of Omnicell in the fourth quarter valued at about $223,000. Finally, Balyasny Asset Management L.P. raised its stake in shares of Omnicell by 4.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 67,561 shares of the company's stock worth $3,008,000 after purchasing an additional 2,747 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on OMCL shares. StockNews.com cut shares of Omnicell from a "buy" rating to a "hold" rating in a report on Saturday, May 3rd. Benchmark lowered their target price 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. JPMorgan Chase & Co. reduced their target price 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. Finally, Wells Fargo & Company raised Omnicell from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $31.00 to $35.00 in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Omnicell has an average rating of "Hold" and a consensus price target of $46.50.

Omnicell Stock Up 2.6%

Shares of NASDAQ OMCL traded up $0.73 during mid-day trading on Wednesday, reaching $28.73. The company had a trading volume of 975,710 shares, compared to its average volume of 557,084. The company has a current ratio of 1.37, a quick ratio of 1.22 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $31.89 and a two-hundred day simple moving average of $39.80. The stock has a market cap of $1.35 billion, a P/E ratio of 106.41, a PEG ratio of 7.53 and a beta of 0.78. Omnicell, Inc. has a 52-week low of $22.66 and a 52-week high of $55.75.

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