Millrace Asset Group Inc. Makes New Investment in Omnicell, Inc. (NASDAQ:OMCL)

Millrace Asset Group Inc. purchased a new position in Omnicell, Inc. (NASDAQ:OMCL) during the third quarter, HoldingsChannel.com reports. The fund purchased 28,043 shares of the company’s stock, valued at approximately $1,223,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in Omnicell by 248.8% during the second quarter. Nisa Investment Advisors LLC now owns 1,402 shares of the company’s stock worth $38,000 after acquiring an additional 1,000 shares during the period. GAMMA Investing LLC raised its position in shares of Omnicell by 78.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,258 shares of the company’s stock worth $55,000 after purchasing an additional 553 shares during the period. CWM LLC lifted its holdings in shares of Omnicell by 68.2% in the 2nd quarter. CWM LLC now owns 3,048 shares of the company’s stock worth $83,000 after purchasing an additional 1,236 shares during the last quarter. 1620 Investment Advisors Inc. lifted its holdings in shares of Omnicell by 230.1% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,212 shares of the company’s stock worth $96,000 after purchasing an additional 1,542 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Omnicell during the 2nd quarter valued at approximately $104,000. 97.70% of the stock is owned by institutional investors and hedge funds.

Omnicell Stock Up 0.6 %

OMCL stock opened at $45.96 on Tuesday. The company has a market capitalization of $2.13 billion, a P/E ratio of -117.85, a PEG ratio of 38.42 and a beta of 0.81. The company has a 50-day simple moving average of $44.29 and a 200 day simple moving average of $37.57. Omnicell, Inc. has a fifty-two week low of $25.12 and a fifty-two week high of $55.74.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on OMCL shares. Barclays increased their target price on Omnicell from $39.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of Omnicell from $37.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Craig Hallum boosted their target price on shares of Omnicell from $45.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Benchmark restated a “buy” rating and issued a $48.00 target price on shares of Omnicell in a research report on Wednesday, October 9th. Finally, StockNews.com cut Omnicell from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $52.00.

Omnicell 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.