Millrace Asset Group Inc. Invests $1.22 Million in Omnicell, Inc. (NASDAQ:OMCL)

Millrace Asset Group Inc. bought a new stake in Omnicell, Inc. (NASDAQ:OMCL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 28,043 shares of the company’s stock, valued at approximately $1,223,000. Millrace Asset Group Inc. owned 0.06% of Omnicell at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in OMCL. Vanguard Group Inc. increased its holdings in Omnicell by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 5,651,732 shares of the company’s stock valued at $165,200,000 after purchasing an additional 80,312 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Omnicell by 32.6% in the second quarter. Pacer Advisors Inc. now owns 2,070,434 shares of the company’s stock worth $56,047,000 after buying an additional 508,789 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Omnicell by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,180,503 shares of the company’s stock valued at $31,955,000 after buying an additional 3,570 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Omnicell by 11,982.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,148,426 shares of the company’s stock valued at $50,071,000 after buying an additional 1,138,921 shares during the period. Finally, Federated Hermes Inc. lifted its position in Omnicell by 1,113.6% during the 2nd quarter. Federated Hermes Inc. now owns 991,151 shares of the company’s stock worth $26,830,000 after acquiring an additional 909,480 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Omnicell Stock Up 0.6 %

Shares of Omnicell stock opened at $45.96 on Tuesday. The business has a 50-day moving average price of $44.29 and a 200 day moving average price of $37.57. Omnicell, Inc. has a fifty-two week low of $25.12 and a fifty-two week high of $55.74. The firm has a market cap of $2.13 billion, a P/E ratio of -117.85, a P/E/G ratio of 38.42 and a beta of 0.81.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OMCL. Bank of America reaffirmed a “neutral” rating and issued a $57.00 price objective (up previously from $44.00) on shares of Omnicell in a research report on Thursday, October 31st. Benchmark reaffirmed a “buy” rating and set a $48.00 price target on shares of Omnicell in a report on Wednesday, October 9th. StockNews.com lowered shares of Omnicell from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Wells Fargo & Company upped their price objective on shares of Omnicell from $30.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Omnicell from $37.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Omnicell has an average rating of “Hold” and a consensus target price of $52.00.

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.