Omnicell’s (OMCL) “Neutral” Rating Reaffirmed at Bank of America

Bank of America restated their neutral rating on shares of Omnicell (NASDAQ:OMCL) in a report released on Thursday morning, Marketbeat reports. The firm currently has a $57.00 price target on the stock, up from their prior price target of $44.00.

Several other brokerages also recently commented on OMCL. StockNews.com upgraded Omnicell from a “hold” rating to a “buy” rating in a research note on Saturday, October 19th. Barclays raised shares of Omnicell from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $26.00 to $39.00 in a report on Friday, August 2nd. Wells Fargo & Company increased their price target on shares of Omnicell from $30.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Benchmark reiterated a “buy” rating and set a $48.00 target price on shares of Omnicell in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their price objective on Omnicell from $26.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Omnicell currently has an average rating of “Hold” and an average target price of $49.14.

Omnicell Stock Performance

OMCL stock traded down $0.27 during mid-day trading on Thursday, reaching $48.37. The company had a trading volume of 21,262 shares, compared to its average volume of 525,021. The company has a quick ratio of 2.22, a current ratio of 1.05 and a debt-to-equity ratio of 0.47. Omnicell has a 52 week low of $25.12 and a 52 week high of $55.74. The stock has a 50 day simple moving average of $43.26 and a two-hundred day simple moving average of $35.17.

Omnicell (NASDAQ:OMCL) last released 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. Omnicell had a negative net margin of 1.66% and a positive return on equity of 2.55%. The company had revenue of $276.80 million for the quarter, compared to analyst estimates of $254.41 million. During the same period in the previous year, the business earned $0.29 EPS. Omnicell’s revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, analysts anticipate that Omnicell will post 0.64 EPS for the current year.

Hedge Funds Weigh In On Omnicell

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Omnicell by 1.4% in the first quarter. Vanguard Group Inc. now owns 5,651,732 shares of the company’s stock valued at $165,200,000 after acquiring an additional 80,312 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Omnicell by 197.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 124,600 shares of the company’s stock valued at $3,642,000 after purchasing an additional 82,774 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Omnicell by 61.3% during the 2nd 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 in the last quarter. SG Americas Securities LLC bought a new stake in shares of Omnicell during the 1st quarter worth $684,000. Finally, Illinois Municipal Retirement Fund acquired a new stake in Omnicell in the first quarter valued at about $718,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.