Omnicell (NASDAQ:OMCL) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Omnicell (NASDAQ:OMCL) from a buy rating to a hold rating in a research report report published on Friday.

Other research analysts have also recently issued reports about the company. Benchmark reaffirmed a “buy” rating and issued a $48.00 price target on shares of Omnicell in a report on Wednesday, October 9th. Bank of America reaffirmed a “neutral” rating and issued a $57.00 target price (up from $44.00) on shares of Omnicell in a research note on Thursday, October 31st. Wells Fargo & Company upped their target price on shares of Omnicell from $30.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Barclays raised their price target on shares of Omnicell from $39.00 to $58.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on Omnicell from $26.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Omnicell currently has an average rating of “Hold” and a consensus target price of $50.83.

Omnicell Price Performance

OMCL stock opened at $46.05 on Friday. The business has a fifty day moving average price of $44.20 and a 200 day moving average price of $36.96. Omnicell has a fifty-two week low of $25.12 and a fifty-two week high of $55.74. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of -117.10, a P/E/G ratio of 43.97 and a beta of 0.81.

Institutional Investors Weigh In On Omnicell

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Omnicell by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,651,732 shares of the company’s stock valued at $165,200,000 after acquiring an additional 80,312 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Omnicell by 61.3% in the second quarter. Assenagon Asset Management S.A. now owns 599,928 shares of the company’s stock valued at $16,240,000 after purchasing an additional 228,093 shares during the last quarter. SG Americas Securities LLC acquired a new position in Omnicell in the first quarter valued at about $684,000. Federated Hermes Inc. boosted its holdings in Omnicell by 1,113.6% during the second quarter. Federated Hermes Inc. now owns 991,151 shares of the company’s stock worth $26,830,000 after buying an additional 909,480 shares during the last quarter. Finally, Connors Investor Services Inc. grew its position in shares of Omnicell by 64.6% during the 1st quarter. Connors Investor Services Inc. now owns 95,547 shares of the company’s stock worth $2,793,000 after buying an additional 37,502 shares during the period. 97.70% of the stock is owned by 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.