Omnicell (NASDAQ:OMCL)‘s stock had its “strong-buy” rating restated by Zacks Investment Research in a research report issued to clients and investors on Wednesday. They currently have a $78.00 price objective on the stock. Zacks Investment Research‘s price objective points to a potential upside of 11.60% from the company’s current price.

According to Zacks, “Omnicell’s third-quarter 2018 performance was impressive. The company continued to see solid uptake of Omnicell XT. It also entered various deals for the XR2 and IVX Workflow products. Bookings and product backlogs also rose in the quarter. We are encouraged to note that the company is working on product innovation through R&D. Also, Omnicell is expected to gain from launches, partnerships and digital transformation. Over the past three months, the company has outperformed its industry. However, increasing operating expenses are putting pressure on the bottom line for Omnicell. A resilient hospital capital expenditure environment might affect the adoption of the company’s solutions. Tough competitive landscape is a dampener as well.”

OMCL has been the topic of a number of other reports. Wells Fargo & Co raised their price objective on shares of Omnicell from $59.00 to $61.00 and gave the stock a “market perform” rating in a report on Monday, October 29th. Craig Hallum raised their price objective on shares of Omnicell from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, September 17th. Piper Jaffray Companies raised their price objective on shares of Omnicell from $44.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. Cantor Fitzgerald restated a “buy” rating and set a $63.00 price objective on shares of Omnicell in a report on Thursday, July 26th. Finally, BidaskClub lowered shares of Omnicell from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 4th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Omnicell currently has a consensus rating of “Buy” and an average target price of $70.88.

Shares of NASDAQ OMCL opened at $69.89 on Wednesday. The firm has a market cap of $2.79 billion, a PE ratio of 388.28, a PEG ratio of 4.21 and a beta of 0.98. Omnicell has a twelve month low of $39.75 and a twelve month high of $74.16. The company has a current ratio of 1.78, a quick ratio of 1.32 and a debt-to-equity ratio of 0.27.

In related news, EVP Dan S. Johnston sold 6,250 shares of the firm’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $63.47, for a total transaction of $396,687.50. Following the sale, the executive vice president now directly owns 35,996 shares in the company, valued at $2,284,666.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James T. Judson sold 2,443 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $70.67, for a total transaction of $172,646.81. Following the sale, the director now owns 24,952 shares in the company, valued at $1,763,357.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,267 shares of company stock worth $1,653,616. 3.71% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. King Luther Capital Management Corp increased its stake in Omnicell by 11.7% in the 3rd quarter. King Luther Capital Management Corp now owns 78,605 shares of the company’s stock valued at $5,652,000 after buying an additional 8,215 shares during the last quarter. Ibex Investors LLC acquired a new stake in Omnicell in the 3rd quarter valued at $209,000. Riverhead Capital Management LLC increased its stake in Omnicell by 34.5% in the 3rd quarter. Riverhead Capital Management LLC now owns 7,400 shares of the company’s stock valued at $532,000 after buying an additional 1,900 shares during the last quarter. Axiom International Investors LLC DE increased its stake in Omnicell by 195.5% in the 3rd quarter. Axiom International Investors LLC DE now owns 72,153 shares of the company’s stock valued at $5,188,000 after buying an additional 47,733 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in Omnicell by 518.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 124,170 shares of the company’s stock valued at $8,928,000 after buying an additional 104,107 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Omnicell Company Profile

Omnicell, Inc provides automation and business analytics software solutions for medication and supply management in healthcare worldwide. The company operates through two segments, Automation and Analytics, and Medication Adherence. It offers Omnicell Automated Dispensing Cabinets, a dispensing system, which automates the management and dispensing of medications; SinglePointe, a software product that controls medications; AnywhereRN, a software which remotely queue medications from automated dispensing cabinets; Omnicell Analytics and Pandora Analytics reporting and data analytics tools; and Anesthesia Workstation that manages anesthesia supplies and medications.

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