Omnicell (NASDAQ:OMCL) Share Price Breaks Above Two Hundred Day Moving Average – Time to Sell?

Shares of Omnicell, Inc. (NASDAQ:OMCL) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $38.91 and traded as high as $39.63. Omnicell shares last traded at $39.41, with a volume of 850,494 shares trading hands.

Omnicell News Summary

Here are the key news stories impacting Omnicell this week:

• Positive Sentiment: Zacks Research upgraded Omnicell from “hold” to “strong-buy,” adding to the bullish analyst-rating momentum. Tickerreport article
• Positive Sentiment: Zacks cited solid earnings-estimate revisions as a reason OMCL may continue moving higher in the near term. Zacks earnings-estimate revisions article
• Positive Sentiment: OMCL was added to Zacks’ Rank #1 (Strong Buy) lists for momentum and value stocks, reinforcing the favorable assessment. Zacks momentum stocks article Zacks value stocks article
• Neutral Sentiment: A Zacks article noted that analysts’ consensus target implies substantial potential upside, but cautioned that price targets alone have limited predictive value; it also pointed to estimate revisions as a more encouraging signal. Zacks analyst price-target article

Analyst Ratings Changes

OMCL has been the topic of several recent research reports. Zacks Research raised shares of Omnicell from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. KeyCorp restated an “overweight” rating on shares of Omnicell in a research note on Monday, August 24th. Weiss Ratings upgraded shares of Omnicell from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. Piper Sandler reissued 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. Finally, Wells Fargo & Company reduced their price objective on shares of Omnicell from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Omnicell currently has an average rating of “Buy” and an average target price of $57.86.

Omnicell Stock Down 1.8%

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.65 and a quick ratio of 1.45. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 1.00 and a beta of 0.88. The firm’s 50-day simple moving average is $34.93 and its two-hundred day simple moving average is $38.78.

Omnicell (NASDAQ:OMCL) last posted its quarterly 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 the consensus estimate of $304.44 million. During the same period last year, the firm earned $0.51 EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. Sell-side analysts predict that Omnicell, Inc. will post 1.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Maryland State Retirement & Pension System lifted its position in Omnicell by 53.0% during the third quarter. Maryland State Retirement & Pension System now owns 10,180 shares of the company’s stock worth $347,000 after buying an additional 3,526 shares during the period. Fulcrum Asset Management LLP boosted its stake in Omnicell by 2,536.4% in the 3rd quarter. Fulcrum Asset Management LLP now owns 1,160 shares of the company’s stock worth $40,000 after buying an additional 1,116 shares during the last quarter. Bridge City Capital LLC boosted its stake in Omnicell by 21.4% in the 3rd quarter. Bridge City Capital LLC now owns 67,444 shares of the company’s stock worth $2,296,000 after buying an additional 11,883 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Omnicell in the 3rd quarter valued at about $402,000. Finally, Choreo LLC grew its holdings in Omnicell by 42.9% in the 3rd quarter. Choreo LLC now owns 13,518 shares of the company’s stock valued at $460,000 after buying an additional 4,060 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Omnicell Company Profile

Omnicell, Inc develops medication management and adherence solutions for health care providers, pharmacies and patients. Its technologies are designed to help automate medication dispensing, improve inventory control, support clinical workflows and enhance medication access and adherence across the care continuum.

The company’s product portfolio includes automated dispensing cabinets for hospitals and health systems, central pharmacy and intravenous compounding automation, medication packaging and adherence solutions, and software for analytics, inventory management and pharmacy operations.