Omnicell (OMCL) Failed to Meet Expectations in Q3

Scout Investments, an affiliate of Carillon Tower Advisers, an investment management company, released its “Carillon Scout Small Cap Fund” third quarter 2022 investor letter. You can download a copy of the same here. The fund underperformed in the quarter relative to its Russell 2000 Growth Index benchmark. Macroeconomic headwinds affected the performance of the fund in the quarter. As per the letter, investors prefer growth stocks to value stocks, as small-cap growth stocks outperformed small-cap value stocks during the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers highlighted stocks like Omnicell, Inc. (NASDAQ:OMCL) in its Q3 2022 investor letter. Headquartered in Mountain View, California, Omnicell, Inc. (NASDAQ:OMCL) is a technology company that serves the healthcare industry. On December 30, 2022, Omnicell, Inc. (NASDAQ:OMCL) stock closed at $50.42 per share. One-month return of Omnicell, Inc. (NASDAQ:OMCL) was -1.96%, and its shares lost 72.07% of their value over the last 52 weeks. Omnicell, Inc. (NASDAQ:OMCL) has a market capitalization of $2.251 billion.

Carillon Tower Advisers made the following comment about Omnicell, Inc. (NASDAQ:OMCL) in its Q3 2022 investor letter:

Omnicell, Inc. (NASDAQ:OMCL) supplies pharmacy automation and medication management systems. It missed expectations due to implementation delays caused by a ransomware attack on the company as well as by inflationary headwinds”

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Omnicell, Inc. (NASDAQ:OMCL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Omnicell, Inc. (NASDAQ:OMCL) at the end of the third quarter, which was 19 in the previous quarter.

We discussed Omnicell, Inc. (NASDAQ:OMCL) in another article and shared Brown Capital Management’s views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.