Omnicell (OMCL) Stock Declined on Management Guidance

Conestoga Capital Advisors, an asset management company, released its “Small Cap Growth Fund” third-quarter investor letter. A copy of the same can be downloaded here. The fund declined 4.56% net of fees in the third quarter, compared to a 0.24% return for Russell 2000 Growth Index. Stock selection and negative sector allocation impacted the fund’s performance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Conestoga Capital Advisors 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 15, 2022, Omnicell, Inc. (NASDAQ:OMCL) stock closed at $48.44 per share. One-month return of Omnicell, Inc. (NASDAQ:OMCL) was -8.83%, and its shares lost 72.36% of their value over the last 52 weeks. Omnicell, Inc. (NASDAQ:OMCL) has a market capitalization of $2.163 billion.

Conestoga Capital Advisors made the following comment about Omnicell, Inc. (NASDAQ:OMCL) in its Q3 2022 investor letter:

“Omnicell, Inc. (NASDAQ:OMCL) is a provider of medication control solutions and medication adherence packaging. Omnicell announced mixed Q2’22 results, with revenue of $331 million, below expectations of $340 million, but EBITDA in-line at $56 million. The top line miss was largely attributable to a ransomware attack which pushed back implementation timelines. The ransomware incident is now rectified, and we expect improved results going forward. Also likely impacting the stock was management’s guidance for Q3’22 adjusted EBITDA that came in below expectations given inflation-related headwinds to cost of goods sold and higher labor costs.

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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 the list of top automation companies in the U.S. 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.