Wells Fargo & Company Cuts Omnicell (NASDAQ:OMCL) Price Target to $40.00

Omnicell (NASDAQ:OMCL) had its target price reduced by Wells Fargo & Company from $49.00 to $40.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential downside of 4.76% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Barclays boosted their target price 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. StockNews.com downgraded shares of Omnicell from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Craig Hallum boosted their target price on shares of Omnicell from $45.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped 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. Finally, Bank of America dropped their target price on shares of Omnicell from $54.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $50.00.

Omnicell Stock Down 0.7 %

Shares of NASDAQ OMCL traded down $0.28 during midday trading on Monday, reaching $42.00. 22,266 shares of the company were exchanged, compared to its average volume of 336,716. The stock’s 50-day moving average price is $45.88 and its 200-day moving average price is $41.22. The stock has a market cap of $1.95 billion, a P/E ratio of -107.69, a PEG ratio of 34.96 and a beta of 0.78. Omnicell has a one year low of $25.12 and a one year high of $55.74.

Insider Transactions at Omnicell

In related news, Director Mark W. Parrish sold 12,000 shares of the stock in a transaction 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 owns 58,427 shares of the company’s stock, valued at approximately $2,763,597.10. This trade represents a 17.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.64% of the company’s stock.

Institutional Investors Weigh In On Omnicell

Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in shares of Omnicell by 11,982.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,148,426 shares of the company’s stock worth $50,071,000 after purchasing an additional 1,138,921 shares during the period. Federated Hermes Inc. lifted 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 worth $26,830,000 after purchasing an additional 909,480 shares during the period. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Omnicell in the 3rd quarter worth about $32,721,000. Pacer Advisors Inc. lifted its position in Omnicell by 32.6% during the 2nd 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 period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Omnicell by 750.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 294,037 shares of the company’s stock valued at $12,820,000 after acquiring an additional 259,463 shares during the period. Institutional investors own 97.70% of the company’s stock.

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.