Omnicell (NASDAQ:OMCL) Upgraded by Wells Fargo & Company to Overweight Rating

Wells Fargo & Company upgraded shares of Omnicell (NASDAQ:OMCL) from an equal weight rating to an overweight rating in a research note published on Wednesday, Marketbeat reports. They currently have $35.00 price target on the stock, up from their prior price target of $31.00.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of Omnicell from $44.00 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. StockNews.com downgraded shares of Omnicell from a “buy” rating to a “hold” rating in a research report on Saturday, May 3rd. Finally, Benchmark cut their target price on shares of Omnicell from $62.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $46.50.

Omnicell Trading Up 2.6%

NASDAQ OMCL opened at $28.73 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.37 and a debt-to-equity ratio of 0.13. The stock’s 50-day simple moving average is $31.73 and its two-hundred day simple moving average is $39.72. Omnicell has a twelve month low of $22.66 and a twelve month high of $55.75. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 106.41, a PEG ratio of 7.53 and a beta of 0.78.

Omnicell (NASDAQ:OMCL) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. Omnicell had a net margin of 1.13% and a return on equity of 3.82%. The firm had revenue of $269.67 million during the quarter, compared to analyst estimates of $260.18 million. During the same period in the previous year, the business posted $0.03 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. Research analysts forecast that Omnicell will post 1.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC raised its position in shares of Omnicell by 81.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,641,817 shares of the company’s stock worth $73,093,000 after purchasing an additional 737,536 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Omnicell by 93.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,450,416 shares of the company’s stock valued at $64,573,000 after acquiring an additional 699,925 shares in the last quarter. Toronto Dominion Bank purchased a new stake in Omnicell during the 4th quarter valued at $30,637,000. Dimensional Fund Advisors LP lifted its holdings in shares of Omnicell by 31.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,642,626 shares of the company’s stock valued at $73,127,000 after purchasing an additional 394,820 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Omnicell by 32.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,526,309 shares of the company’s stock valued at $67,951,000 after buying an additional 377,883 shares during the last quarter. Hedge funds and other 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.