Bank of America Cuts Omnicell (NASDAQ:OMCL) Price Target to $46.00

Omnicell (NASDAQ:OMCL) had its target price lowered by analysts at Bank of America from $54.00 to $46.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s target price points to a potential upside of 2.20% from the company’s current price.

OMCL has been the subject of a number of other research reports. Wells Fargo & Company boosted their price objective on Omnicell from $30.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Benchmark reaffirmed a “buy” rating and issued a $48.00 price target on shares of Omnicell in a research note on Wednesday, October 9th. Craig Hallum boosted their price objective on shares of Omnicell from $45.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com lowered shares of Omnicell from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Barclays boosted their price target on Omnicell from $39.00 to $58.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $50.17.

Omnicell Trading Down 0.7 %

NASDAQ:OMCL traded down $0.31 during midday trading on Monday, hitting $45.01. 123,992 shares of the company traded hands, compared to its average volume of 192,903. The firm’s fifty day moving average is $46.17 and its 200-day moving average is $40.56. The firm has a market capitalization of $2.08 billion, a P/E ratio of -115.41, a P/E/G ratio of 34.96 and a beta of 0.78. Omnicell has a 12-month low of $25.12 and a 12-month high of $55.74.

Insider Buying and Selling

In other Omnicell news, Director Mark W. Parrish sold 12,000 shares of Omnicell stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $47.30, for a total value of $567,600.00. Following the transaction, the director now owns 58,427 shares in the company, valued at $2,763,597.10. The trade was a 17.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.64% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Omnicell by 78.4% in the third 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 last quarter. 1620 Investment Advisors Inc. grew its stake in 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 buying an additional 1,542 shares during the last quarter. Headlands Technologies LLC purchased a new position in Omnicell during the 2nd quarter worth $104,000. Summit Global Investments acquired a new position in Omnicell during the 3rd quarter valued at about $221,000. Finally, QRG Capital Management Inc. purchased a new stake in Omnicell in the third quarter valued at about $231,000. Hedge funds and other institutional investors own 97.70% of the company’s stock.

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.