Omnicell, Inc. (NASDAQ:OMCL) Short Interest Down 14.3% in May

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

Omnicell Stock Up 0.4%

Shares of NASDAQ:OMCL traded up $0.13 during trading hours on Friday, reaching $31.00. The stock had a trading volume of 456,397 shares, compared to its average volume of 573,054. Omnicell has a 1 year low of $22.66 and a 1 year high of $55.75. The firm's 50 day moving average is $30.01 and its 200-day moving average is $37.50. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.22 and a current ratio of 1.37. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 114.82, a P/E/G ratio of 7.53 and a beta of 0.78.

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

Institutional Investors Weigh In On Omnicell

Large investors have recently modified their holdings of the company. Inspire Investing LLC grew its position in shares of Omnicell by 9.2% in the 1st quarter. Inspire Investing LLC now owns 9,878 shares of the company's stock valued at $345,000 after buying an additional 834 shares during the last quarter. Strs Ohio purchased a new position in shares of Omnicell in the 1st quarter valued at $5,635,000. Acadian Asset Management LLC purchased a new position in shares of Omnicell in the 1st quarter valued at $4,394,000. Intech Investment Management LLC grew its position in shares of Omnicell by 75.6% in the 1st quarter. Intech Investment Management LLC now owns 230,171 shares of the company's stock valued at $8,047,000 after buying an additional 99,104 shares during the last quarter. Finally, Jane Street Group LLC grew its position in shares of Omnicell by 201.5% in the 1st quarter. Jane Street Group LLC now owns 163,664 shares of the company's stock valued at $5,722,000 after buying an additional 109,382 shares during the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on OMCL. 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 report on Thursday, March 20th. Piper Sandler reiterated an "overweight" rating on shares of Omnicell in a report on Friday, May 23rd. Wall Street Zen upgraded shares of Omnicell from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Bank of America increased their target price on shares of Omnicell from $30.00 to $34.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $37.00 target price (up from $35.00) on shares of Omnicell in a report on Friday, May 23rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.