BUZZ-Omnicell falls on planned $150 mln convertible offering

Reuters
2024-11-20
BUZZ-<a href="https://laohu8.com/S/OMCL">Omnicell</a> falls on planned $150 mln convertible offering

** Omnicell's OMCL.O shares down 7% at $42.81 Tues as medical software co seeks capital raise

** Fort Worth, Texas-based firm early Tues said offering privately $150 mln 5-yr convertible bonds (CBs)

** Co expects to use portion of net proceeds to pay for capped calls, remainder, along with cash, to repurchase up to $400 mln of its outstanding 0.25% CBs due 2025

** On Oct 29, shares soared 32% to close at $53.05 after co posted big adj Q3 EPS beat and hiked its FY 2024 earnings outlook

** With move on Tues, shares up 14% YTD for market value of ~$2 bln, per LSEG

** Of 9 analysts covering OMCL, 3 rate "buy", rest "hold"; median PT of $60 up from $44.50 a month ago

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper.thomsonreuters.com@reuters.net lance.tupper@tr.com 1-646-279-6380))

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