Healthcare tech company Omnicell (NASDAQ:OMCL) will be reporting results tomorrow morning. Here’s what to expect.
Omnicell beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $282.4 million, down 5.4% year on year. It was a very strong quarter for the company, with EBITDA guidance for next quarter exceeding analysts’ expectations and an impressive beat of analysts’ EPS estimates.
Is Omnicell a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Omnicell’s revenue to grow 16% year on year to $300.2 million, a reversal from the 13.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.58 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Omnicell has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Omnicell’s peers in the healthcare technology segment, only Premier has reported results so far. It met analysts’ revenue estimates, posting year-on-year sales declines of 14.2%.
Read our full analysis of Premier’s earnings results here.There has been positive sentiment among investors in the healthcare technology segment, with share prices up 2.7% on average over the last month. Omnicell is up 4.4% during the same time and is heading into earnings with an average analyst price target of $54.14 (compared to the current share price of $45.27).
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