Bank of America Cuts Omnicell (NASDAQ:OMCL) Price Target to $46.00

by · The Markets Daily

Omnicell (NASDAQ:OMCL – Free Report) had its price target decreased by Bank of America from $54.00 to $46.00 in a research report released on Monday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

A number of other brokerages also recently commented on OMCL. Barclays increased their price objective on Omnicell from $39.00 to $58.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Wells Fargo & Company increased their price target on Omnicell from $30.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Benchmark restated a “buy” rating and set a $48.00 price objective on shares of Omnicell in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on shares of Omnicell from $37.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Finally, Craig Hallum boosted their price target on shares of Omnicell from $45.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $50.17.

Check Out Our Latest Analysis on OMCL

Omnicell Price Performance

OMCL stock opened at $43.09 on Monday. The firm has a market cap of $2.00 billion, a PE ratio of -110.48, a P/E/G ratio of 34.96 and a beta of 0.78. Omnicell has a 12 month low of $25.12 and a 12 month high of $55.74. The firm has a 50 day simple moving average of $46.12 and a 200 day simple moving average of $40.90.

Insider Transactions at Omnicell

In related news, Director Mark W. Parrish sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $47.30, for a total transaction of $567,600.00. Following the transaction, the director now directly owns 58,427 shares of the company’s stock, valued at approximately $2,763,597.10. The trade was a 17.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.64% of the stock is owned by insiders.

Institutional Investors Weigh In On Omnicell

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Omnicell by 78.4% in the third quarter. GAMMA Investing LLC now owns 1,258 shares of the company’s stock worth $55,000 after acquiring an additional 553 shares during the last quarter. 1620 Investment Advisors Inc. grew its stake in Omnicell by 230.1% in the third quarter. 1620 Investment Advisors Inc. now owns 2,212 shares of the company’s stock valued at $96,000 after purchasing an additional 1,542 shares in the last quarter. Headlands Technologies LLC acquired a new position in Omnicell in the 2nd quarter worth about $104,000. Summit Global Investments purchased a new stake in shares of Omnicell during the 3rd quarter worth about $221,000. Finally, QRG Capital Management Inc. acquired a new stake in shares of Omnicell during the 3rd quarter valued at about $231,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

About Omnicell

(Get Free Report)

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.

Further Reading