Omnicell, Inc. (NASDAQ:OMCL) Stock Has Average Price Target of $57.86 According to Brokerages

Shares of Omnicell, Inc. (NASDAQ:OMCL) have been assigned an average rating of “Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $57.86.

Several research analysts have issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $45.00 price objective (down from $55.00) on shares of Omnicell in a research report on Monday, August 3rd. Wells Fargo & Company decreased their target price on shares of Omnicell from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. KeyCorp reaffirmed an “overweight” rating on shares of Omnicell in a research note on Monday, August 24th. Wall Street Zen downgraded shares of Omnicell from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research upgraded shares of Omnicell from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 4th.

Omnicell News Summary

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

Omnicell Stock Performance

NASDAQ OMCL opened at $37.34 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 1.45 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $34.93 and its two-hundred day moving average is $38.78. Omnicell has a 12-month low of $31.75 and a 12-month high of $55.00. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 38.90, a PEG ratio of 0.93 and a beta of 0.88.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in Omnicell during the second quarter worth $2,253,000. BlackRock Inc. acquired a new stake in Omnicell in the second quarter valued at $313,044,000. Trillium Asset Management LLC purchased a new position in shares of Omnicell in the second quarter valued at $4,816,000. Bank of America Corp DE increased its position in shares of Omnicell by 31.3% in the first quarter. Bank of America Corp DE now owns 580,875 shares of the company’s stock valued at $19,390,000 after buying an additional 138,537 shares in the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Omnicell in the second quarter valued at $6,367,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Omnicell Company Profile

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.