Omnicell plunges after lowering FY forecast

Omnicell

02/11/2022 13:14

** Shares of healthcare tech firm Omnicell  OMCL.O  tumble
17.4% at $63.04 in premarket trade - set to open at their lowest
in over two years if losses sustain
    ** Omnicell lowers its FY 2022 guidance of product bookings
to the range of $950 mln to $1.05 bln from an earlier guidance
of $1.37 bln to $1.43 bln
    ** Co also lowers its FY 2022 adj. profit guidance to
$2.73-$2.83/shr, from an earlier guidance of $3.85-$4.05/shr
    ** OMCL says the guidance has been updated to reflect the
cost of its recent acquisitions as well as rising inflation
    ** However, co reports a rise in Q3 revenue compared to last
year on the back of 'strong demand' for its mission critical
medication management solutions
    ** Up to last close, stock had fallen 57.7% YTD
 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))