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

Principal Financial Group Inc. decreased its stake in shares of Omnicell, Inc. (NASDAQ:OMCL - Free Report) by 11.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 229,089 shares of the company's stock after selling 31,062 shares during the period. Principal Financial Group Inc. owned approximately 0.49% of Omnicell worth $9,988,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Franklin Resources Inc. raised its holdings in Omnicell by 49.9% in the third quarter. Franklin Resources Inc. now owns 30,807 shares of the company's stock worth $1,316,000 after purchasing an additional 10,260 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Omnicell by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,104,745 shares of the company's stock worth $48,176,000 after acquiring an additional 2,877 shares in the last quarter. Pier Capital LLC bought a new position in shares of Omnicell in the 3rd quarter worth about $5,859,000. SageView Advisory Group LLC purchased a new position in Omnicell during the 3rd quarter valued at about $480,000. Finally, ArrowMark Colorado Holdings LLC boosted its stake in Omnicell by 27.1% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,140,873 shares of the company's stock worth $49,742,000 after acquiring an additional 243,353 shares in the last quarter. Institutional investors own 97.70% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on OMCL. JPMorgan Chase & Co. lifted their target price on shares of Omnicell from $37.00 to $44.00 and gave the company a "neutral" rating in a report on Thursday, November 21st. Benchmark reissued a "buy" rating and set a $48.00 price objective on shares of Omnicell in a research report on Wednesday, October 9th. StockNews.com cut shares of Omnicell from a "buy" rating to a "hold" rating in a report on Tuesday, December 10th. Barclays increased their price target on shares of Omnicell from $39.00 to $58.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. Finally, Craig Hallum boosted their price target on Omnicell from $45.00 to $64.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $52.00.

Insider Transactions at Omnicell

In related news, Director Mark W. Parrish sold 12,000 shares of Omnicell stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $47.30, for a total transaction of $567,600.00. Following the transaction, the director now directly owns 58,427 shares in the company, valued at approximately $2,763,597.10. The trade was a 17.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.64% of the company's stock.

Omnicell Trading Up 2.8 %

OMCL stock traded up $1.20 on Tuesday, hitting $44.52. The company had a trading volume of 423,430 shares, compared to its average volume of 539,868. Omnicell, Inc. has a 12-month low of $25.12 and a 12-month high of $55.74. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -114.15, a P/E/G ratio of 34.96 and a beta of 0.77. The stock's 50-day simple moving average is $45.86 and its 200 day simple moving average is $40.29.

Omnicell Company Profile

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.