Omnicell (NASDAQ:OMCL) Issues FY 2024 Earnings Guidance

Omnicell (NASDAQ:OMCL) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.650-1.720 for the period, compared to the consensus earnings per share estimate of 1.370. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Omnicell also updated its Q4 guidance to $0.55-$0.62 EPS.

Omnicell Trading Up 0.1 %

NASDAQ OMCL traded up $0.03 during trading on Friday, hitting $48.67. 683,792 shares of the company’s stock traded hands, compared to its average volume of 528,146. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.05 and a quick ratio of 2.22. Omnicell has a 12-month low of $25.12 and a 12-month high of $55.74. The business has a 50 day moving average of $43.26 and a 200-day moving average of $35.17.

Omnicell (NASDAQ:OMCL) last posted its earnings results on Thursday, August 1st. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.37. The firm had revenue of $276.80 million for the quarter, compared to the consensus estimate of $254.41 million. Omnicell had a positive return on equity of 2.55% and a negative net margin of 1.66%. The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.29 earnings per share. As a group, equities analysts forecast that Omnicell will post 0.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Craig Hallum raised their target price on Omnicell from $45.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday. Benchmark reaffirmed a “buy” rating and set a $48.00 price objective on shares of Omnicell in a research note on Wednesday, October 9th. StockNews.com upgraded shares of Omnicell from a “hold” rating to a “buy” rating in a research note on Saturday, October 19th. Wells Fargo & Company boosted their price target 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, Barclays increased their price objective on Omnicell from $39.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $49.14.

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.