Why Shares of Omnicell Dropped 33.6% This Week
Shares of Omnicell (NASDAQ: OMCL), which makes pharmacy management solutions for healthcare systems and pharmacies, dropped 33.6% this week, according to data from S&P Global Intelligence. The stock closed last week at $77.96, then opened on Monday at $77.63. The stock hit its 52-week low on Thursday afternoon, when it fell more than $30 from where it had been on Tuesday to $48.52, before closing on Friday at $51.77. Its 52-week high is $187.29. The stock is down more than 71% so far this year.
Investors reacted negatively when the healthcare company slashed its guidance in its third-quarter earnings report Wednesday morning. The company downgraded its annual revenue, earnings per share (EPS), and earnings before interest, taxes, depreciation, and amortization (EBITDA).
It expects full-year revenue to be between $1.284 billion and $1.294 billion, down from between $1.385 billion and $1.41 billion. It also said it now expects EBITDA to run between $177 million and $183 million, down from between $243 million and $255 million, and annual EPS to be between $2.73 and $2.83, compared to earlier estimates of between $3.85 and $4.05.
Source Fool.com
