Omnicell (NASDAQ:OMCL) Stock Price Down 2.4% – Should You Sell?

Omnicell, Inc. (NASDAQ:OMCL) shares were down 2.4% on Tuesday . The company traded as low as $43.19 and last traded at $43.43. Approximately 48,856 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 542,978 shares. The stock had previously closed at $44.50.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Bank of America reiterated a “neutral” rating and set a $57.00 price objective (up from $44.00) on shares of Omnicell in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on shares of Omnicell from $37.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Barclays lifted their price target on shares of Omnicell from $39.00 to $58.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Craig Hallum raised their price objective on Omnicell from $45.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Benchmark reiterated a “buy” rating and set a $48.00 target price on shares of Omnicell in a report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Omnicell has an average rating of “Hold” and a consensus target price of $52.00.

Omnicell Stock Performance

The company has a market cap of $1.99 billion, a price-to-earnings ratio of -110.41, a P/E/G ratio of 34.96 and a beta of 0.78. The company has a fifty day moving average of $45.55 and a two-hundred day moving average of $39.55.

Insider Activity

In other news, Director Mark W. Parrish sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was 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 $2,763,597.10. This represents a 17.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.64% of the company’s stock.

Institutional Investors Weigh In On Omnicell

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its stake in shares of Omnicell by 248.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,402 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares during the period. GAMMA Investing LLC grew its holdings in Omnicell by 78.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,258 shares of the company’s stock valued at $55,000 after buying an additional 553 shares in the last quarter. 1620 Investment Advisors Inc. grew its stake in Omnicell by 230.1% during the third quarter. 1620 Investment Advisors Inc. now owns 2,212 shares of the company’s stock valued at $96,000 after acquiring an additional 1,542 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Omnicell in the second quarter worth $104,000. Finally, Summit Global Investments bought a new position in Omnicell in the 3rd quarter worth about $221,000. 97.70% of the stock is owned by hedge funds and other institutional investors.

About Omnicell

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.