Omnicell (NASDAQ:OMCL) Price Target Raised to $40.00

Omnicell (NASDAQ:OMCL) had its price objective boosted by stock analysts at Wells Fargo & Company from $37.00 to $40.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 44.02% from the company’s previous close.

Several other brokerages have also recently commented on OMCL. Benchmark reduced their price objective on shares of Omnicell from $62.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Wall Street Zen upgraded shares of Omnicell from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 12th. Piper Sandler restated an “overweight” rating on shares of Omnicell in a research report on Friday, May 23rd. Finally, Bank of America lifted their target price on shares of Omnicell from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, May 23rd. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Omnicell currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.33.

Omnicell Trading Up 3.3%

Shares of OMCL stock traded up $0.89 during trading hours on Monday, hitting $27.77. The company had a trading volume of 148,335 shares, compared to its average volume of 561,873. Omnicell has a fifty-two week low of $22.66 and a fifty-two week high of $55.75. The company’s fifty day moving average is $29.10 and its 200 day moving average is $34.04. The stock has a market capitalization of $1.30 billion, a PE ratio of 60.26, a price-to-earnings-growth ratio of 7.84 and a beta of 0.76. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.38 and a quick ratio of 1.23.

Omnicell (NASDAQ:OMCL) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.10. Omnicell had a net margin of 1.87% and a return on equity of 4.60%. The company had revenue of $269.67 million for the quarter, compared to the consensus estimate of $260.18 million. During the same period in the prior year, the firm posted $0.03 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. Research analysts expect that Omnicell will post 1.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Omnicell

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in Omnicell by 2.6% during the first quarter. Principal Financial Group Inc. now owns 244,644 shares of the company’s stock worth $8,553,000 after buying an additional 6,288 shares during the period. Jane Street Group LLC lifted its position in shares of Omnicell by 7.4% during the fourth quarter. Jane Street Group LLC now owns 54,282 shares of the company’s stock worth $2,417,000 after purchasing an additional 3,725 shares in the last quarter. Invesco Ltd. lifted its position in shares of Omnicell by 2.4% during the fourth quarter. Invesco Ltd. now owns 219,453 shares of the company’s stock worth $9,770,000 after purchasing an additional 5,063 shares in the last quarter. Mariner LLC lifted its position in shares of Omnicell by 16.1% during the fourth quarter. Mariner LLC now owns 9,075 shares of the company’s stock worth $404,000 after purchasing an additional 1,261 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Omnicell by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 5,562,165 shares of the company’s stock worth $247,628,000 after purchasing an additional 28,573 shares during the period. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Omnicell Company Profile

Omnicell, Inc, together with its subsidiaries, provides medication management solutions and adherence tools for healthcare systems and pharmacies the United States and internationally. The company offers point of care automation solutions to improve clinician workflows in patient care areas of the healthcare system; XT Series automated dispensing systems for medications and supplies used in nursing units and other clinical areas of the hospital, as well as specialized automated dispensing systems for operating room; and robotic dispensing systems for handling the stocking and retrieval of boxed medications.