Omnicell falls on planned $150 mln convertible offering

Omnicell

19/11/2024 19:11

** Omnicell's  OMCL.O  shares down 7% at $42.81 Tues as medical
software co seeks capital raise
** Fort Worth, Texas-based firm late Mon said offering privately
$150 mln 5-yr convertible bonds (CBs)
    ** Co expects to use portion of net proceeds to pay for
capped calls, remainder, along with cash, to repurchase up to
$400 mln of its outstanding 0.25% CBs due 2025
** On Oct 30, shares soared 32% to close at $53.05 after co
posted big adj Q3 EPS beat and hiked its FY 2024 earnings
outlook
    ** With move on Tues, shares up 14% YTD for market value of
~$2 bln, per LSEG
    ** Of 9 analysts covering OMCL, 3 rate "buy", rest "hold";
median PT of $60 up from $44.50 a month ago

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.thomsonreuters.com@reuters.net
lance.tupper@tr.com 1-646-279-6380))