Maryland State Retirement & Pension System Reduces Position in Omnicell, Inc. (NASDAQ:OMCL)

Maryland State Retirement & Pension System decreased its stake in shares of Omnicell, Inc. (NASDAQ:OMCL) by 12.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 13,564 shares of the company’s stock after selling 1,968 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Omnicell were worth $474,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of OMCL. Johnson Financial Group Inc. purchased a new position in Omnicell during the fourth quarter worth $37,000. Point72 Hong Kong Ltd purchased a new stake in shares of Omnicell in the fourth quarter valued at $101,000. Corton Capital Inc. purchased a new stake in shares of Omnicell in the fourth quarter valued at $208,000. Summit Investment Advisors Inc. grew its position in shares of Omnicell by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,774 shares of the company’s stock valued at $213,000 after purchasing an additional 307 shares during the period. Finally, Caption Management LLC purchased a new stake in shares of Omnicell in the fourth quarter valued at $223,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wall Street Zen downgraded Omnicell from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Wells Fargo & Company boosted their price target on Omnicell from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. 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 report on Friday, May 23rd. Benchmark lowered their price target on Omnicell from $62.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Finally, Piper Sandler set a $55.00 price target on Omnicell and gave the company an “overweight” rating in a research report on Monday, August 11th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Omnicell has a consensus rating of “Moderate Buy” and an average target price of $46.71.

Omnicell Trading Up 0.7%

Shares of OMCL opened at $31.69 on Friday. The stock’s 50-day moving average is $29.45 and its two-hundred day moving average is $32.34. The stock has a market cap of $1.46 billion, a PE ratio of 63.38, a P/E/G ratio of 9.18 and a beta of 0.78. Omnicell, Inc. has a 12 month low of $22.66 and a 12 month high of $55.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.42 and a quick ratio of 1.24.

Omnicell (NASDAQ:OMCL) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.30 by $0.15. Omnicell had a return on equity of 4.27% and a net margin of 2.01%. The business had revenue of $290.56 million for the quarter, compared to analysts’ expectations of $275.57 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year. Equities analysts forecast that Omnicell, Inc. will post 1.09 earnings per share for the current fiscal year.

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.