Omnicell (NASDAQ:OMCL) Price Target Increased to $41.00 by Analysts at Wells Fargo & Company

Omnicell (NASDAQ:OMCL) had its target price increased by Wells Fargo & Company from $30.00 to $41.00 in a report released on Monday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities research analysts also recently issued research reports about the stock. StockNews.com raised shares of Omnicell from a “hold” rating to a “buy” rating in a research note on Thursday, October 10th. Barclays raised Omnicell from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $26.00 to $39.00 in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on Omnicell from $26.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Benchmark reaffirmed a “buy” rating and set a $48.00 price target on shares of Omnicell in a research report on Wednesday, October 9th. Finally, Bank of America boosted their price objective on Omnicell from $34.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.33.

Omnicell Stock Performance

Shares of Omnicell stock opened at $41.43 on Monday. Omnicell has a 52 week low of $25.12 and a 52 week high of $45.84. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.22 and a current ratio of 2.45. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -90.07, a PEG ratio of 47.35 and a beta of 0.83. The firm has a fifty day moving average of $43.21 and a two-hundred day moving average of $34.15.

Omnicell (NASDAQ:OMCL) last released its earnings results on Thursday, August 1st. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.37. The firm had revenue of $276.80 million for the quarter, compared to analyst estimates of $254.41 million. Omnicell had a positive return on equity of 2.52% and a negative net margin of 1.92%. The company’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. As a group, equities research analysts predict that Omnicell will post 0.64 EPS for the current year.

Institutional Trading of Omnicell

A number of hedge funds and other institutional investors have recently made changes to their positions in OMCL. Federated Hermes Inc. increased its stake in Omnicell by 1,113.6% in the 2nd quarter. Federated Hermes Inc. now owns 991,151 shares of the company’s stock valued at $26,830,000 after buying an additional 909,480 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Omnicell by 32.6% in the second quarter. Pacer Advisors Inc. now owns 2,070,434 shares of the company’s stock valued at $56,047,000 after acquiring an additional 508,789 shares during the last quarter. Vanguard Group Inc. raised its holdings in Omnicell by 8.5% during the fourth quarter. Vanguard Group Inc. now owns 5,571,420 shares of the company’s stock worth $209,653,000 after acquiring an additional 434,336 shares in the last quarter. Champlain Investment Partners LLC boosted its position in Omnicell by 16.0% during the first quarter. Champlain Investment Partners LLC now owns 1,753,205 shares of the company’s stock valued at $51,246,000 after purchasing an additional 241,235 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake 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 in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.