Principal Financial Group Inc. Cuts Stake in Omnicell, Inc. (NASDAQ:OMCL)

Principal Financial Group Inc. cut its holdings in Omnicell, Inc. (NASDAQ:OMCL) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 260,151 shares of the company’s stock after selling 3,932 shares during the period. Principal Financial Group Inc.’s holdings in Omnicell were worth $7,042,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Omnicell by 1.4% in the first quarter. Vanguard Group Inc. now owns 5,651,732 shares of the company’s stock worth $165,200,000 after buying an additional 80,312 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in Omnicell by 16.0% in the 1st quarter. Champlain Investment Partners LLC now owns 1,753,205 shares of the company’s stock valued at $51,246,000 after acquiring an additional 241,235 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Omnicell by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,067,516 shares of the company’s stock worth $40,173,000 after purchasing an additional 21,798 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Omnicell by 61.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 599,928 shares of the company’s stock valued at $16,240,000 after purchasing an additional 228,093 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Omnicell during the fourth quarter valued at about $18,802,000. 97.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company increased their price target on Omnicell from $26.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. StockNews.com downgraded Omnicell from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Barclays upgraded shares of Omnicell from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $26.00 to $39.00 in a research report 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 restated a “buy” rating and issued a $38.00 target price on shares of Omnicell in a report on Monday, July 15th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $37.83.

Omnicell Price Performance

Omnicell stock opened at $45.29 on Monday. Omnicell, Inc. has a 12-month low of $25.12 and a 12-month high of $58.44. The company has a current ratio of 2.45, a quick ratio of 2.22 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $35.74 and a 200-day moving average price of $31.12. The firm has a market capitalization of $2.08 billion, a PE ratio of -98.46, a price-to-earnings-growth ratio of 49.29 and a beta of 0.83.

Omnicell (NASDAQ:OMCL) last announced its earnings results on Thursday, August 1st. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.37. The business had revenue of $276.80 million during the quarter, compared to analyst estimates of $254.41 million. Omnicell had a positive return on equity of 2.52% and a negative net margin of 1.92%. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.29 earnings per share. As a group, equities research analysts forecast that Omnicell, Inc. will post 0.64 EPS 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.