Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES
Market for Our Common Stock
Our common stock is traded on the NASDAQ Global Select Market under the symbol “OMCL.”
Stockholders
There were 81 registered stockholders of record as of February 17, 2021. A substantially greater number of stockholders are beneficial holders, whose shares of record are held by banks, brokers, and other financial institutions.
Dividend Policy
We have never declared or paid any cash dividends on our common stock. We currently expect to retain any future earnings for use in the operation and expansion of our business and do not anticipate paying any cash dividends on our common stock in the foreseeable future.
Performance Graph
The following graph compares total stockholder returns for Omnicell’s common stock for the past five years to three indexes: the NASDAQ Composite Index, the NASDAQ Health Care Index, and the NASDAQ Health Services Index. The graph assumes $100 was invested in each of Omnicell’s common stock, the NASDAQ Composite Index, the NASDAQ Health Care Index, and the NASDAQ Health Services Index as of the market close on December 31, 2015. The total return for Omnicell’s common stock and for each index assumes the reinvestment of all dividends, although cash dividends have never been declared on Omnicell’s common stock, and is based on the returns of the component companies weighted according to their capitalization as of the end of each annual period.
The NASDAQ Composite Index tracks the aggregate price performance of equity securities traded on The NASDAQ Stock Market. The NASDAQ Health Care Index and NASDAQ Health Services Index tracks the aggregate price performance of health care and health services equity securities. Omnicell’s common stock is traded on The NASDAQ Global Select Market and is a component of both indexes. The stock price performance shown on the graph is based on historical results and is not necessarily indicative of future price performance.
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COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN (1) (2)
Among Omnicell, Inc., the NASDAQ Composite Index, the NASDAQ Health Care Index, and
the NASDAQ Health Services Index
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(1) $100 invested on December 31, 2015 in stock or index, including reinvestment of dividends.
(2) This section is not deemed “soliciting material” or to be “filed” with the SEC and is not to be incorporated by reference into any filing of Omnicell, Inc. under the Securities Act or the Exchange Act, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing.
Year Ended December 31,
2015 2016 2017 2018 2019 2020
Omnicell, Inc. $ 100.00 $ 109.07 $ 156.05 $ 197.04 $ 262.93 $ 386.16
NASDAQ Composite 100.00 108.87 141.13 137.12 187.44 271.64
NASDAQ Health Care 100.00 83.07 104.46 102.81 124.72 156.88
NASDAQ Health Services 100.00 78.91 90.89 108.53 151.08 242.42
Stock Repurchase Program
On September 17, 2020, the Board of Directors authorized a one-time stock repurchase transaction providing for the repurchase of up to $75.0 million of our common stock in privately negotiated transactions concurrently with the issuance of the convertible senior notes, described in Note 10, Convertible Senior Notes, of the Notes to Consolidated Financial Statements in this annual report on Form 10-K. In September 2020, we repurchased 749,300 shares of our common stock from purchasers of the convertible senior notes in the offering in privately negotiated transactions effected through one of the initial purchasers or its affiliate at an average price of $70.78 per share for an aggregate purchase price of approximately $53.0 million. There will be no further repurchases under this one-time authorization. There were no other repurchases of our outstanding common stock
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during the year ended December 31, 2020, including under our current stock repurchase programs. Refer to Note 15, Stock Repurchase Program , of the Notes to Consolidated Financial Statements in this annual report on Form 10-K for additional information.
Equity Offerings
For the year ended December 31, 2020, we did not sell any of our common stock under our Distribution Agreement. Refer to Note 16, Equity Offerings , of the Notes to Consolidated Financial Statements in this annual report on Form 10-K for additional information.
ITEM 6. SELECTED FINANCIAL DATA
The following selected consolidated financial data is derived from our Consolidated Financial Statements. This data should be read in conjunction with our Consolidated Financial Statements and related Notes included in this annual report on Form 10-K and with Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations . Historical results may not be indicative of future results.
Year Ended December 31,
2020 (1)
2019 2018 2017 (2) (4)
2016 (3) (4)
(In thousands, except per share amounts)
Consolidated Statements of Operations Data
Total revenues $ 892,208 $ 897,027 $ 787,309 $ 712,714 $ 695,908
Gross profit 413,292 436,912 372,330 318,637 317,085
Income from operations 35,526 78,352 44,392 11,145 21,405
Net income $ 32,194 $ 61,338 $ 37,729 $ 30,518 $ 9,756
Net income per share:
Basic $ 0.76 $ 1.48 $ 0.96 $ 0.81 $ 0.27
Diluted $ 0.74 $ 1.43 $ 0.93 $ 0.79 $ 0.26
Shares Used in Per Share Calculations
Basic 42,583 41,462 39,242 37,483 36,156
Diluted 43,743 42,943 40,559 38,712 36,864
December 31,
2020 (1)
2019 2018 2017 (2) (4)
2016 (3) (4)
(In thousands)
Consolidated Balance Sheet Data
Total assets $ 1,824,504 $ 1,240,810 $ 1,081,242 $ 1,016,362 $ 966,884
Long-term debt (5)
467,201 50,000 135,417 194,917 245,731
Total liabilities 857,001 395,556 401,625 462,021 508,048
Total stockholders’ equity $ 967,503 $ 845,254 $ 679,617 $ 554,341 $ 458,836
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(1) Includes 340B Link Business financial results as of October 2020, the acquisition date.
(2) Includes InPharmics financial results as of April 2017, the acquisition date.
(3) Includes Aesynt and Ateb financial results as of the acquisition dates of January 2016 and December 2016, respectively.
(4) As adjusted for full retrospective adoption of Accounting Standards Codification 606, Revenue from Contracts with Customers .
(5) Consists of the revolving credit facility and convertible senior notes, net.