Bank of America Raises Omnicell (NASDAQ:OMCL) Price Target to $44.00

Omnicell (NASDAQ:OMCL) had its price target raised by Bank of America from $34.00 to $44.00 in a research note released on Friday, Benzinga reports. They currently have a buy rating on the stock.

OMCL has been the topic of a number of other research reports. Wells Fargo & Company boosted their price objective on shares of Omnicell from $26.00 to $30.00 and gave the stock an equal weight rating in a report on Friday. Barclays raised shares of Omnicell from an underweight rating to an equal weight rating and upped their price target for the company from $26.00 to $39.00 in a report on Friday. StockNews.com downgraded shares of Omnicell from a buy rating to a hold rating in a report on Tuesday, July 16th. Finally, Benchmark reaffirmed a buy rating and issued a $38.00 price target on shares of Omnicell in a report on Monday, July 15th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $44.17.

Omnicell Price Performance

NASDAQ OMCL traded up $0.37 during trading on Friday, reaching $39.22. 1,347,707 shares of the company’s stock were exchanged, compared to its average volume of 520,857. The company has a quick ratio of 2.13, a current ratio of 2.45 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average price of $28.84 and a two-hundred day moving average price of $29.10. Omnicell has a 1 year low of $25.12 and a 1 year high of $66.65.

Omnicell (NASDAQ:OMCL) last posted its earnings results on Thursday, May 2nd. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.17. The business had revenue of $246.15 million during the quarter, compared to the consensus estimate of $235.70 million. Omnicell had a positive return on equity of 2.52% and a negative net margin of 1.92%. Sell-side analysts forecast that Omnicell will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. acquired a new stake in shares of Omnicell during the fourth quarter worth $1,319,000. Mutual of America Capital Management LLC increased its stake in Omnicell by 197.9% during 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 buying an additional 82,774 shares during the period. SG Americas Securities LLC acquired a new position in Omnicell during the 1st quarter valued at about $684,000. Cadian Capital Management LP acquired a new position in Omnicell during the 4th quarter valued at about $2,446,000. Finally, Global Alpha Capital Management Ltd. increased its stake in Omnicell by 10.6% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 357,716 shares of the company’s stock valued at $13,461,000 after buying an additional 34,400 shares during the period. 97.70% of the stock is currently 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.