Is Omnicell, Inc. (OMCL) A Good Stock To Buy?

As aggregate interest increased, some big names were leading the bulls’ herd. Arrowstreet Capital, led by Peter Rathjens, Bruce Clarke and John Campbell, initiated the most outsized position in Omnicell, Inc. (NASDAQ:OMCL). Arrowstreet Capital had $1.9 million invested in the company at the end of the quarter. Ira Unschuld’s Brant Point Investment Management also initiated a $0.8 million position during the quarter.

Let’s go over hedge fund activity in other stocks similar to Omnicell, Inc. (NASDAQ:OMCL). These stocks are Hope Bancorp Inc (NASDAQ:HOPE), Triumph Group Inc (NYSE:TGI), Astec Industries, Inc. (NASDAQ:ASTE), and Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE). All of these stocks’ market caps match OMCL’s market cap.

As you can see these stocks had an average of 13 funds with bullish positions and the average amount invested in these stocks was $100 million. That figure was $32 million in OMCL’s case. Triumph Group Inc (NYSE:TGI) is the most popular stock in this table. On the other hand Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE) is the least popular one with only three bullish hedge fund positions. Omnicell, Inc. (NASDAQ:OMCL) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard TGI might be a better candidate to consider taking a long position in.

Disclosure: none