Omnicell, Inc. (OMCL) Hits New 1-Year High Following Analyst Upgrade

Omnicell, Inc. (NASDAQ:OMCL)’s share price reached a new 52-week high during mid-day trading on Friday after Dougherty & Co raised their price target on the stock from $45.00 to $49.00. Dougherty & Co currently has a buy rating on the stock. Omnicell traded as high as $48.35 and last traded at $48.35, with a volume of 599,276 shares. The stock had previously closed at $42.78.

Several other equities analysts have also issued reports on OMCL. Piper Jaffray Companies lowered Omnicell from an “overweight” rating to a “neutral” rating and set a $40.00 target price on the stock. in a research note on Friday, April 21st. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $53.00 target price (up previously from $43.00) on shares of Omnicell in a research note on Tuesday, April 25th. CIBC increased their target price on Omnicell from $43.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. TheStreet lowered Omnicell from a “b-” rating to a “c+” rating in a research note on Thursday, May 4th. Finally, Zacks Investment Research lowered Omnicell from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $49.00.

In other Omnicell news, Chairman Randall A. Lipps sold 9,900 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $43.00, for a total value of $425,700.00. Following the sale, the chairman now owns 208,982 shares of the company’s stock, valued at approximately $8,986,226. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jorge R. Taborga sold 20,719 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $50.98, for a total value of $1,056,254.62. Following the completion of the transaction, the vice president now owns 53,270 shares in the company, valued at approximately $2,715,704.60. The disclosure for this sale can be found here. Insiders sold a total of 170,394 shares of company stock worth $7,811,149 in the last ninety days. 3.77% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in Omnicell by 79.7% in the first quarter. Bank of America Corp DE now owns 202,466 shares of the company’s stock worth $8,231,000 after buying an additional 89,817 shares during the last quarter. First National Bank of Omaha acquired a new position in Omnicell during the first quarter worth approximately $865,000. Parametric Portfolio Associates LLC increased its position in Omnicell by 4.9% in the first quarter. Parametric Portfolio Associates LLC now owns 145,279 shares of the company’s stock worth $5,906,000 after buying an additional 6,786 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Omnicell during the fourth quarter worth approximately $788,000. Finally, Nationwide Fund Advisors increased its position in Omnicell by 0.9% in the first quarter. Nationwide Fund Advisors now owns 253,955 shares of the company’s stock worth $10,323,000 after buying an additional 2,224 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

The firm’s market cap is $1.89 billion. The company’s 50-day moving average price is $44.33 and its 200-day moving average price is $40.56.

Omnicell (NASDAQ:OMCL) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. Omnicell had a positive return on equity of 0.41% and a negative net margin of 1.14%. The firm had revenue of $180.90 million for the quarter, compared to analysts’ expectations of $174.08 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Omnicell’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts forecast that Omnicell, Inc. will post $1.31 earnings per share for the current year.

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About Omnicell

Omnicell, Inc provides automation and business analytics software solutions for patient-centric medication and supply management across the entire healthcare continuum, from the acute care hospital setting to post-acute skilled nursing and long-term care facilities to the home. It operates through two segments: Automation and Analytics, and Medication Adherence.

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