California State Teachers Retirement System Sells 493 Shares of Omnicell, Inc. (NASDAQ:OMCL)

Posted by Defense World Staff on Aug 24th, 2023

California State Teachers Retirement System trimmed its holdings in shares of Omnicell, Inc. (NASDAQ:OMCL – Free Report) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,808 shares of the company’s stock after selling 493 shares during the quarter. California State Teachers Retirement System owned 0.13% of Omnicell worth $3,450,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new stake in Omnicell during the fourth quarter worth approximately $22,291,000. Granite Investment Partners LLC raised its holdings in Omnicell by 289.5% during the 1st quarter. Granite Investment Partners LLC now owns 309,855 shares of the company’s stock valued at $18,179,000 after buying an additional 230,295 shares during the period. Trillium Asset Management LLC lifted its position in Omnicell by 50.4% in the fourth quarter. Trillium Asset Management LLC now owns 451,253 shares of the company’s stock worth $22,752,000 after buying an additional 151,223 shares during the last quarter. Thematics Asset Management purchased a new position in Omnicell during the fourth quarter worth $7,282,000. Finally, Legal & General Group Plc boosted its stake in Omnicell by 71.6% during the fourth quarter. Legal & General Group Plc now owns 342,525 shares of the company’s stock worth $17,270,000 after buying an additional 142,907 shares during the period. Institutional investors own 99.16% of the company’s stock.

Insider Activity

In other Omnicell news, CEO Randall A. Lipps purchased 4,000 shares of the stock in a transaction dated Thursday, June 8th. The stock was purchased at an average price of $73.76 per share, with a total value of $295,040.00. Following the transaction, the chief executive officer now owns 318,768 shares of the company’s stock, valued at $23,512,327.68. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Christine Marie Mellon sold 7,951 shares of Omnicell stock in a transaction on Friday, June 9th. The stock was sold at an average price of $73.14, for a total value of $581,536.14. Following the transaction, the executive vice president now directly owns 14,876 shares in the company, valued at approximately $1,088,030.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Randall A. Lipps purchased 4,000 shares of Omnicell stock in a transaction dated Thursday, June 8th. The stock was bought at an average cost of $73.76 per share, with a total value of $295,040.00. Following the completion of the transaction, the chief executive officer now owns 318,768 shares in the company, valued at approximately $23,512,327.68. The disclosure for this purchase can be found here. Company insiders own 2.61% of the company’s stock.

Omnicell Trading Down 1.3 %

OMCL opened at $56.85 on Thursday. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.49. The stock’s fifty day moving average is $67.11 and its two-hundred day moving average is $63.53. The company has a market capitalization of $2.57 billion, a P/E ratio of -109.33, a PEG ratio of 8.90 and a beta of 0.84. Omnicell, Inc. has a 52 week low of $46.11 and a 52 week high of $111.18.

Omnicell (NASDAQ:OMCL – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.29 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.30. Omnicell had a positive return on equity of 4.47% and a negative net margin of 1.88%. The firm had revenue of $298.97 million for the quarter, compared to analyst estimates of $285.25 million. Analysts forecast that Omnicell, Inc. will post 0.61 earnings per share for the current year.

Analysts Set New Price Targets

OMCL has been the subject of several analyst reports. TheStreet upgraded shares of Omnicell from a “d+” rating to a “c-” rating in a report on Thursday, May 25th. Benchmark restated a “buy” rating and set a $88.00 target price on shares of Omnicell in a research report on Wednesday, August 2nd. KeyCorp reduced their price target on Omnicell from $80.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, August 4th. Wells Fargo & Company lowered Omnicell from an “overweight” rating to an “underweight” rating and decreased their price target for the stock from $65.00 to $56.00 in a research note on Thursday, July 20th. Finally, Piper Sandler downgraded Omnicell from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $66.00 to $70.00 in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $74.44.

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About Omnicell

(Free Report)

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; Omnicell Interface Software that offers interface and integration between its medication-use products or supply products, and a healthcare facility's in-house information management systems; and robotic dispensing systems for handling the stocking and retrieval of boxed medications.