Omnicell (NASDAQ:OMCL) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen downgraded shares of Omnicell (NASDAQ:OMCL) from a strong-buy rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

A number of other brokerages have also issued reports on OMCL. Piper Sandler reiterated an “overweight” rating and issued a $45.00 price objective (down from $55.00) on shares of Omnicell in a report on Monday, August 3rd. Wells Fargo & Company reduced their target price on shares of Omnicell from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. KeyCorp reissued an “overweight” rating on shares of Omnicell in a report on Monday, August 24th. Weiss Ratings upgraded shares of Omnicell from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 18th. Finally, Zacks Research raised shares of Omnicell from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $57.86.

Omnicell Stock Performance

NASDAQ OMCL opened at $37.34 on Friday. The firm’s fifty day moving average price is $34.93 and its two-hundred day moving average price is $38.78. The stock has a market cap of $1.70 billion, a PE ratio of 38.90, a PEG ratio of 0.93 and a beta of 0.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.45 and a current ratio of 1.65. Omnicell has a fifty-two week low of $31.75 and a fifty-two week high of $55.00.

Omnicell (NASDAQ:OMCL) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.16. The company had revenue of $307.85 million during the quarter, compared to analysts’ expectations of $304.44 million. Omnicell had a return on equity of 5.69% and a net margin of 3.59%. Omnicell’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. On average, equities analysts expect that Omnicell will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Omnicell

Several hedge funds and other institutional investors have recently bought and sold shares of OMCL. Nykredit A S acquired a new stake in Omnicell during the 2nd quarter worth about $26,000. Versant Capital Management Inc lifted its stake in shares of Omnicell by 38.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,053 shares of the company’s stock valued at $44,000 after purchasing an additional 294 shares during the period. Fulcrum Asset Management LLP lifted its stake in shares of Omnicell by 2,536.4% in the 3rd quarter. Fulcrum Asset Management LLP now owns 1,160 shares of the company’s stock valued at $40,000 after purchasing an additional 1,116 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Omnicell in the 2nd quarter valued at about $105,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of Omnicell by 21.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,613 shares of the company’s stock valued at $89,000 after purchasing an additional 469 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.

Key Omnicell News

Here are the key news stories impacting Omnicell this week:

• Positive Sentiment: Zacks Research upgraded Omnicell from “hold” to “strong-buy,” adding to the bullish analyst-rating momentum. Tickerreport article
• Positive Sentiment: Zacks cited solid earnings-estimate revisions as a reason OMCL may continue moving higher in the near term. Zacks earnings-estimate revisions article
• Positive Sentiment: OMCL was added to Zacks’ Rank #1 (Strong Buy) lists for momentum and value stocks, reinforcing the favorable assessment. Zacks momentum stocks article Zacks value stocks article
• Neutral Sentiment: A Zacks article noted that analysts’ consensus target implies substantial potential upside, but cautioned that price targets alone have limited predictive value; it also pointed to estimate revisions as a more encouraging signal. Zacks analyst price-target article

About Omnicell

Omnicell, Inc develops medication management and adherence solutions for health care providers, pharmacies and patients. Its technologies are designed to help automate medication dispensing, improve inventory control, support clinical workflows and enhance medication access and adherence across the care continuum.

The company’s product portfolio includes automated dispensing cabinets for hospitals and health systems, central pharmacy and intravenous compounding automation, medication packaging and adherence solutions, and software for analytics, inventory management and pharmacy operations.