Omnicell (NASDAQ:OMCL) Price Target Cut to $46.00 by Analysts at Bank of America

Omnicell (NASDAQ:OMCL) had its price objective dropped by analysts at Bank of America from $54.00 to $46.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s target price suggests a potential upside of 2.20% from the company’s previous close.

Several other research analysts have also recently issued reports on OMCL. Benchmark restated a “buy” rating and issued a $48.00 price objective on shares of Omnicell in a research note on Wednesday, October 9th. Wells Fargo & Company raised their price target on shares of Omnicell from $30.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. upped their price objective on shares of Omnicell from $37.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Barclays raised their target price on shares of Omnicell from $39.00 to $58.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, StockNews.com lowered shares of Omnicell from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Omnicell currently has a consensus rating of “Hold” and an average price target of $50.17.

Omnicell Stock Performance

Shares of NASDAQ OMCL traded down $0.31 during mid-day trading on Monday, hitting $45.01. The stock had a trading volume of 123,992 shares, compared to its average volume of 192,903. The firm has a market cap of $2.08 billion, a PE ratio of -115.41, a PEG ratio of 34.96 and a beta of 0.78. The company has a 50 day moving average of $46.17 and a two-hundred day moving average of $40.56. Omnicell has a twelve month low of $25.12 and a twelve month high of $55.74.

Insider Activity at Omnicell

In other news, Director Mark W. Parrish sold 12,000 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $47.30, for a total transaction of $567,600.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Omnicell

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in Omnicell by 78.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,258 shares of the company’s stock worth $55,000 after acquiring an additional 553 shares in the last quarter. 1620 Investment Advisors Inc. raised its position in shares of Omnicell by 230.1% during 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. Headlands Technologies LLC purchased a new position in Omnicell in the 2nd quarter valued at about $104,000. Summit Global Investments acquired a new stake in Omnicell in the 3rd quarter worth about $221,000. Finally, QRG Capital Management Inc. acquired a new stake in Omnicell in the 3rd quarter worth about $231,000. Hedge funds and other 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.