Omnicell, Inc. (NASDAQ:OMCL) Sees Significant Decrease in Short Interest

Omnicell, Inc. (NASDAQ:OMCL - Get Free Report) was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 2,100,000 shares, a drop of 14.3% from the April 30th total of 2,450,000 shares. Currently, 4.7% of the company's shares are sold short. Based on an average daily volume of 693,300 shares, the days-to-cover ratio is currently 3.0 days.

Omnicell Price Performance

Omnicell stock traded up $0.27 during trading hours on Wednesday, hitting $31.29. 511,345 shares of the stock were exchanged, compared to its average volume of 570,693. The business's 50-day moving average is $30.17 and its two-hundred day moving average is $37.76. Omnicell has a 12 month low of $22.66 and a 12 month high of $55.75. The stock has a market capitalization of $1.47 billion, a P/E ratio of 115.89, a P/E/G ratio of 7.53 and a beta of 0.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.22 and a current ratio of 1.37.

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

Institutional Trading of Omnicell

Several institutional investors and hedge funds have recently made changes to their positions in OMCL. Shaker Investments LLC OH acquired a new position in Omnicell in the fourth quarter valued at about $550,000. Empowered Funds LLC bought a new position in shares of Omnicell in the fourth quarter valued at $388,000. Jane Street Group LLC grew its holdings in Omnicell by 7.4% during the fourth quarter. Jane Street Group LLC now owns 54,282 shares of the company's stock worth $2,417,000 after purchasing an additional 3,725 shares during the period. CIBC Asset Management Inc acquired a new position in shares of Omnicell during the 4th quarter worth approximately $201,000. Finally, Invesco Ltd. increased its holdings 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 last quarter. Institutional investors own 97.70% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on OMCL shares. Benchmark lowered their price objective on shares of Omnicell from $62.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen raised Omnicell from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Piper Sandler reaffirmed an "overweight" rating on shares of Omnicell in a report on Friday, May 23rd. JPMorgan Chase & Co. dropped their price target on Omnicell from $44.00 to $36.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. Finally, 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 note on Friday, May 23rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.83.

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.

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