Quest Partners LLC Sells 591 Shares of Omnicell, Inc. (NASDAQ:OMCL)

Quest Partners LLC lessened its stake in shares of Omnicell, Inc. (NASDAQ:OMCL) by 16.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,094 shares of the company’s stock after selling 591 shares during the quarter. Quest Partners LLC’s holdings in Omnicell were worth $84,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in OMCL. Arizona State Retirement System boosted its position in Omnicell by 2.9% during the second quarter. Arizona State Retirement System now owns 12,853 shares of the company’s stock valued at $348,000 after purchasing an additional 357 shares in the last quarter. Avory & Company LLC boosted its holdings in shares of Omnicell by 3.9% in the 2nd quarter. Avory & Company LLC now owns 250,429 shares of the company’s stock valued at $6,779,000 after buying an additional 9,466 shares in the last quarter. Rhumbline Advisers grew its position in shares of Omnicell by 3.0% in the 2nd quarter. Rhumbline Advisers now owns 147,188 shares of the company’s stock worth $3,984,000 after buying an additional 4,281 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of Omnicell by 1.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 75,799 shares of the company’s stock worth $2,052,000 after acquiring an additional 1,204 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its stake in Omnicell by 15.1% in the second quarter. Arkadios Wealth Advisors now owns 34,530 shares of the company’s stock valued at $935,000 after acquiring an additional 4,520 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OMCL. Barclays raised Omnicell from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $26.00 to $39.00 in a research report on Friday, August 2nd. StockNews.com upgraded Omnicell from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Bank of America boosted their price target on Omnicell from $34.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of Omnicell from $26.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, Benchmark reiterated a “buy” rating and issued a $38.00 target price on shares of Omnicell in a research note on Monday, July 15th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.83.

Omnicell Price Performance

Shares of NASDAQ OMCL opened at $44.92 on Wednesday. Omnicell, Inc. has a 52 week low of $25.12 and a 52 week high of $56.05. The business’s 50 day moving average price is $38.17 and its 200 day moving average price is $31.96. The company has a quick ratio of 2.22, a current ratio of 2.45 and a debt-to-equity ratio of 0.47. The firm has a market cap of $2.07 billion, a P/E ratio of -97.65, a P/E/G ratio of 47.22 and a beta of 0.83.

Omnicell (NASDAQ:OMCL) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.14 by $0.37. Omnicell had a negative net margin of 1.92% and a positive return on equity of 2.52%. The business had revenue of $276.80 million for the quarter, compared to the consensus estimate of $254.41 million. During the same period in the prior year, the firm earned $0.29 EPS. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, sell-side analysts expect that Omnicell, Inc. will post 0.64 earnings per share for the current year.

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.