Omnicell (NASDAQ:OMCL) Shares Gap Up After Earnings Beat

Key Points

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Shares of Omnicell, Inc. (NASDAQ:OMCL - Get Free Report) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $29.70, but opened at $33.75. Omnicell shares last traded at $29.77, with a volume of 169,855 shares changing hands.

The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.30 by $0.15. Omnicell had a net margin of 2.01% and a return on equity of 4.27%. The company had revenue of $290.56 million for the quarter, compared to the consensus estimate of $275.57 million. During the same period in the previous year, the firm earned $0.51 earnings per share. The firm's revenue for the quarter was up 5.0% on a year-over-year basis.

Wall Street Analyst Weigh In

Several research analysts recently commented on OMCL shares. Wall Street Zen raised shares of Omnicell from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 12th. Piper Sandler reaffirmed an "overweight" rating on shares of Omnicell in a research note on Friday, May 23rd. Bank of America boosted their price objective on shares of 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 objective on shares of Omnicell from $37.00 to $40.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Finally, Benchmark reduced 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. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Omnicell has an average rating of "Moderate Buy" and an average price target of $45.33.

Institutional Trading of Omnicell

A number of hedge funds have recently modified their holdings of OMCL. Johnson Financial Group Inc. bought a new stake in shares of Omnicell during the 4th quarter valued at $37,000. GAMMA Investing LLC boosted its holdings in shares of Omnicell by 37.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,694 shares of the company's stock valued at $50,000 after buying an additional 458 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Omnicell during the 4th quarter valued at $53,000. Huntington National Bank boosted its holdings in shares of Omnicell by 236.4% during the 4th quarter. Huntington National Bank now owns 1,359 shares of the company's stock valued at $61,000 after buying an additional 955 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Omnicell during the 4th quarter valued at $101,000. Institutional investors own 97.70% of the company's stock.

Omnicell Trading Up 1.7%

The stock has a market cap of $1.42 billion, a P/E ratio of 60.50, a PEG ratio of 8.69 and a beta of 0.78. The stock's fifty day moving average price is $29.27 and its 200 day moving average price is $33.05. The company has a current ratio of 1.42, a quick ratio of 1.24 and a debt-to-equity ratio of 0.13.

Omnicell Company 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.