StockNews.com Upgrades Omnicell (NASDAQ:OMCL) to Buy

StockNews.com upgraded shares of Omnicell (NASDAQ:OMCL) from a hold rating to a buy rating in a research note issued to investors on Saturday.

A number of other research analysts have also recently issued reports on OMCL. Wells Fargo & Company lifted their price target on Omnicell from $30.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Benchmark restated a “buy” rating and issued a $48.00 price objective on shares of Omnicell in a research report on Wednesday, October 9th. Barclays raised Omnicell from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $26.00 to $39.00 in a research note on Friday, August 2nd. Bank of America raised their price target on Omnicell from $34.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted 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. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.33.

Omnicell Price Performance

Omnicell stock opened at $41.10 on Friday. Omnicell has a 52-week low of $25.12 and a 52-week high of $45.84. The company has a current ratio of 2.45, a quick ratio of 2.22 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average price of $43.21 and a two-hundred day moving average price of $34.52.

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

Institutional Trading of Omnicell

Institutional investors and hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. increased its position in shares of 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 in the last quarter. Pacer Advisors Inc. boosted its stake in Omnicell by 32.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,070,434 shares of the company’s stock worth $56,047,000 after purchasing an additional 508,789 shares during the period. Vanguard Group Inc. raised its stake in shares of Omnicell by 8.5% in the 4th quarter. Vanguard Group Inc. now owns 5,571,420 shares of the company’s stock valued at $209,653,000 after purchasing an additional 434,336 shares during the period. Champlain Investment Partners LLC lifted its holdings in shares of Omnicell by 16.0% in 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 in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Omnicell by 61.3% during the second quarter. Assenagon Asset Management S.A. now owns 599,928 shares of the company’s stock worth $16,240,000 after buying an additional 228,093 shares during the period. 97.70% of the stock is owned by 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.