Omnicell, Inc. OMCL reported first-quarter 2021 adjusted earnings per share (EPS) of 83 cents, up 25.8% year over year. The metric also exceeded the Zacks Consensus Estimate by 23.8%.The adjustments include one-time expenses like share-based compensation, amortization expenses, severance and other.On a GAAP basis, earnings per share were 30 cents for the quarter under review, up 15.4% from the year-ago quarter.Revenues in DetailFirst-quarter revenues of $251.8 million rose 9.6% year over year on a reported basis. The figure beat the Zacks Consensus Estimate by 2.8%.Segmental DetailsOn a segmental basis, Product revenues rose 4.7% year over year to $178.1 million in the reported quarter.Service and other revenues climbed 23.7% year over year to $73.7 million.Operational UpdateIn the quarter under review, company-adjusted gross profit rose 12.3% to $127.5 million. Company-adjusted gross margin expanded 120 basis points (bps) to 50.6%.Omnicell, Inc. Price, Consensus and EPS Surprise Omnicell, Inc. price-consensus-eps-surprise-chart | Omnicell, Inc. QuoteAdjusted operating profit totaled $40.6 million, reflecting an 29.6% rise from the prior-year quarter. Company-adjusted operating margin in the first quarter expanded 250 bps to 16.1%.Financial UpdateOmnicell exited the first quarter with cash and cash equivalents of $548.1 million compared with $485.9 million at the end of fourth-quarter 2020.Cumulative cash flow from operating activities at the end of the reported quarter was $57.4 million compared with $25.2 million a year ago.Q2 and 2021 GuidanceFor the second quarter of 2021, Omnicell expects revenues between $265 million and $270 million. The Zacks Consensus Estimate for the metric is pegged at $245.4 million.Product revenues are forecast between $192 million and $195 million while service revenues are projected within $73-$75 million for the quarter.Second-quarter adjusted EPS is envisioned in the band of 80-85 cents. The Zacks Consensus Estimate for the same is pegged at 67 cents.For the full year, the company expects product bookings between $1.09 billion and $1.15 billion (unchanged). Revenues are once again estimated between $1.08 billion and $1.10 billion. The Zacks Consensus Estimate stands at $1.05 billion.For 2021, the anticipated ranges for product and service revenues are $770-$785 million and $315-$320 million, respectively (unchanged).Full-year adjusted EPS is expected between $3.50 and $3.70 (an improvement from the earlier-provided view of $3.40 and $3.60). The Zacks Consensus Estimate for the metric stands at $3.53.Our TakeOmnicell exited the first quarter with better-than-expected revenues and earnings. The top line rose year over year on growth across both the operating segments.Overall, the company’s optimism about the gradual resumption of elective surgeries is encouraging. The company is progressing as it is advancing autonomous pharmacy by expanding portfolio and investing in the digital cloud-based platform. The raised adjusted EPS guidance also buoys optimism.Zacks Rank and Key PicksOmnicell currently carries a Zacks Rank #2 (Buy).A few other top-ranked stocks in the broader medical space include Semler Scientific Inc. SMLR, Owens & Minor, Inc. OMI and DENTSPLY SIRONA Inc. XRAY.Semler is expected to release results on May 3. The Zacks Consensus Estimate for the company’s first-quarter 2021 adjusted EPS is currently pegged at 48 cents. The consensus mark for first-quarter revenues stands at $11.9 million. The company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Owens & Minor is scheduled to release results on May 5. The Zacks Consensus Estimate for its first-quarter 2021 adjusted EPS is currently pegged at 97 cents. The consensus estimate for first-quarter revenues stands at $2.29 billion. The company currently carries a Zacks Rank #2 (Buy).DENTSPLY SIRONA is slated to release results on May 6. The Zacks Consensus Estimate for first-quarter 2021 adjusted EPS is currently pegged at 55 cents. The consensus estimate for revenues stands at $929.3 million. The company currently carries a Zacks Rank #2.5 Stocks Set to DoubleEach was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Omnicell, Inc. (OMCL): Free Stock Analysis Report DENTSPLY SIRONA Inc. (XRAY): Free Stock Analysis Report Owens & Minor, Inc. (OMI): Free Stock Analysis Report Semler Scientific Inc. (SMLR): Free Stock Analysis Report To read this article on Zacks.com click here.