Omnicell Inc (NASDAQ:OMCL)
Omnicell, Inc.(AMKR), a global business analytics software solutions company yesterday reported their fiscal fourth quarter 2016 financial results. Omnicell reported fourth quarter adjusted earnings of $0.37 per share which fell short of analyst estimates of $0.41 per share. Omnicell reported fourth quarter revenues of $172 million which fell short of analyst estimates of $179.3 million.
Omnicell, Inc. CEO’s Comments
“2016 was a successful year for Omnicell with record bookings, revenues and earnings,” said Randall Lipps, Omnicell president, CEO and chairman. “We are proud of the company’s financial performance and our strategic execution aimed at supporting health systems in achieving their patient safety, operational and financial goals.’‘
“Our customers tell us medication management is central to their patient safety and operational strategies. Our recent wins showcase the strength of our comprehensive and innovative solutions that enable us to be a vital partner. The company is well positioned to take advantage of the great opportunities ahead in 2017,” Mr. Lipps added. PR Newswire
OMCL Technical Analysis
OMCL opened trading yesterday at $37.85 which was down from the previous day’s trading close of $38.20. Shares closed trading yesterday at $38.10 and spiked down after market to $34.00, equivalent to a 11% decrease from the closing price. Taking a look at the daily chart we can see that the last time OMCL traded below these levels we have to go back to January 23rd when it traded at $33.00.
Taking a closer look at the daily chart we can see that before the spike down OMCL had been in an overall upward trend dating back to January 9th, 2016 when it traded at $32.15. OMCL has a float of 35.23 million shares and traded 2.79 times the normal daily trading volume on Wednesday. For trading purposes, I would like to see OMCL open trading on Thursday below $35.40 and if it does I would be looking to take a short position at the bell. My stop loss would be $0.30 from my entry position fearing anything more than that and the stock would start to fill in the gap down.
Company Profile
Omnicell, Inc. provides automation and business analytics software solutions for medication and supply management in healthcare worldwide. The company operates through two segments, Automation and Analytics, and Medication Adherence. It offers OmniRx, a dispensing system that automates the management and dispensing of medications at the point of use; SinglePointe, a software product that controls medications; AnywhereRN, that remotely queue automated dispensing cabinets; Pandora Analytics, a reporting and data analytics tool; and Savvy Mobile System, which provides a platform for hospital information systems.
The company also provides OmniLinkRx, a prescription routing system; WorkflowRx, an automated pharmacy storage, retrieval, and packaging system; Central Pharmacy and Satellite Pharmacy Manager, an automated pharmacy storage and retrieval system; Controlled Substance Management, a controlled substance inventory management system; and Anesthesia Workstation that manages anesthesia supplies and medications. In addition, it offers Omnicell Supply Solution, which automates the management and dispensing of medical and surgical supplies; Omnicell Open Supply Solution for inventory management; Supply/Rx Combination Solution for managing supplies and medications; Omnicell Tissue Center that manages the chain of custody for bone and tissue specimens; OptiFlex SS, a module for the perioperative areas; OptiFlex CL, a module for the cardiac catheterization lab and other procedure areas; and OptiFlex MS, a system for managing medical and surgical supplies.
Further, Omnicell, Inc. offers Central Pharmacy, Point of Care, and IV Solutions; software; and consumable medication blister cards, packaging equipment, and ancillary products and services to institutional pharmacies. The company was formerly known as Omnicell Technologies, Inc. and changed its name to Omnicell, Inc. in 2001. Omnicell, Inc. was founded in 1992 and is headquartered in Mountain View, California.