Omnicell Inc.'s (OMCL) stock plummeted 5.05% on Thursday, February 6th in the pre-market session following the release of mixed fourth quarter 2024 results after Wednesday's market close. The medication management solutions provider reported earnings per share of $0.34, missing consensus estimates of $0.57 despite posting revenue of $306.9 million, which exceeded expectations of $296.9 million.

While Omnicell delivered strong revenue growth of 19% year-over-year driven by improved macroeconomic conditions and timing of system implementations, the company's profitability was weighed down by higher costs. Omnicell cited increased investments in areas such as generative AI and autonomous driving technologies as a key factor behind the rise in expenses during the quarter.

The earnings miss raised concerns among investors regarding potential continued margin pressure in the near-term as Omnicell ramps up spending on growth initiatives. However, the company's long-term prospects remain positive, with analysts generally maintaining a "hold" rating on the stock.