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

Omnicell (NASDAQ:OMCL) had its price target cut by Bank of America from $54.00 to $46.00 in a report released on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued research reports about the stock. StockNews.com cut shares of Omnicell from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their price objective on shares of Omnicell from $37.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Wells Fargo & Company raised their target price on Omnicell from $30.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Barclays boosted their price target on Omnicell from $39.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Craig Hallum raised their price objective on Omnicell from $45.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $50.17.

Omnicell Stock Performance

Shares of NASDAQ:OMCL opened at $43.09 on Monday. The business’s 50-day simple moving average is $46.12 and its 200 day simple moving average is $40.90. The company has a market cap of $2.00 billion, a P/E ratio of -110.48, a PEG ratio of 34.96 and a beta of 0.78. Omnicell has a one year low of $25.12 and a one year high of $55.74.

Insiders Place Their Bets

In related news, Director Mark W. Parrish sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $47.30, for a total transaction of $567,600.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.64% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Omnicell

Hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. increased its stake in Omnicell by 11,982.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,148,426 shares of the company’s stock valued at $50,071,000 after buying an additional 1,138,921 shares during the period. Federated Hermes Inc. raised its holdings in Omnicell by 1,113.6% during the second quarter. Federated Hermes Inc. now owns 991,151 shares of the company’s stock worth $26,830,000 after purchasing an additional 909,480 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new stake in Omnicell during the third quarter worth approximately $32,721,000. Pacer Advisors Inc. lifted its position in Omnicell by 32.6% in the second quarter. Pacer Advisors Inc. now owns 2,070,434 shares of the company’s stock worth $56,047,000 after purchasing an additional 508,789 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Omnicell by 750.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 294,037 shares of the company’s stock valued at $12,820,000 after purchasing an additional 259,463 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

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.