Omnicell (NASDAQ:OMCL) Stock Breaks Below Fifty Day Moving Average - Here's Why

Key Points

• Omnicell shares fell below their 50-day moving average, trading as low as $34.82 and last changing hands at $34.95, below the $35.06 average.
• Analysts maintain a consensus Buy rating, with an average price target of $57.86. Recent target cuts included Piper Sandler lowering its target to $45 and Wells Fargo reducing its target to $50.
• In its latest quarter, Omnicell reported EPS of $0.58, beating the $0.42 consensus, and revenue of $307.85 million, above estimates; revenue was down 0.9% year over year.

Shares of Omnicell, Inc. (NASDAQ:OMCL - Get Free Report) crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $35.06 and traded as low as $34.82. Omnicell shares last traded at $34.95, with a volume of 273,790 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on OMCL shares. Wall Street Zen cut shares of Omnicell from a "strong-buy" rating to a "buy" rating in a report on Saturday, November 7th. KeyCorp reissued an "overweight" rating on shares of Omnicell in a research report on Monday, August 24th. Piper Sandler restated an "overweight" rating and set a $45.00 price target (down from $55.00) on shares of Omnicell in a report on Monday, August 3rd. Zacks Research upgraded shares of Omnicell from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 4th. Finally, Wells Fargo & Company decreased their price objective on shares of Omnicell from $55.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Omnicell currently has a consensus rating of "Buy" and an average target price of $57.86.

Omnicell Trading Down 1.7%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.45 and a current ratio of 1.65. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 36.41, a price-to-earnings-growth ratio of 0.89 and a beta of 0.88. The company's 50 day simple moving average is $35.06 and its two-hundred day simple moving average is $38.49.

Omnicell (NASDAQ:OMCL - Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.16. Omnicell had a net margin of 3.59% and a return on equity of 5.69%. The company had revenue of $307.85 million during the quarter, compared to analyst estimates of $304.44 million. During the same quarter last year, the business posted $0.51 EPS. The company's revenue for the quarter was down .9% on a year-over-year basis. Research analysts expect that Omnicell, Inc. will post 1.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Omnicell during the 2nd quarter valued at about $313,044,000. Dimensional Fund Advisors LP grew its stake in shares of Omnicell by 6.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,450,385 shares of the company's stock valued at $81,791,000 after buying an additional 137,834 shares in the last quarter. Bank of America Corp DE increased its holdings in Omnicell by 31.3% in the first quarter. Bank of America Corp DE now owns 580,875 shares of the company's stock worth $19,390,000 after buying an additional 138,537 shares during the last quarter. Boston Partners increased its holdings in Omnicell by 3.8% in the third quarter. Boston Partners now owns 537,720 shares of the company's stock worth $18,429,000 after buying an additional 19,561 shares during the last quarter. Finally, First Light Asset Management LLC acquired a new position in Omnicell in the first quarter worth approximately $16,351,000. 97.70% of the stock is owned by institutional investors and hedge funds.

About Omnicell

Omnicell, Inc. develops medication-management solutions for healthcare providers. Its products and services are designed to help manage medication storage, dispensing, inventory and workflows across healthcare settings. The company offers automated dispensing cabinets for patient-care areas, automation systems for central pharmacies, and software and analytics that support medication management. Its solutions serve hospitals, health systems, pharmacies and other care providers, including long-term and post-acute care organizations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.