Wells Fargo & Company Reaffirms Overweight Rating for Omnicell (NASDAQ:OMCL)

Omnicell (NASDAQ:OMCL)‘s stock had its “overweight” rating restated by research analysts at Wells Fargo & Company in a research note issued on Friday, Marketbeat.com reports. They presently have a $37.00 price objective on the stock, up from their previous price objective of $35.00. Wells Fargo & Company‘s target price suggests a potential upside of 31.07% from the company’s current price.

OMCL has been the topic of several other research reports. Benchmark reduced their price target on shares of Omnicell from $62.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of Omnicell from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Omnicell from $44.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $44.83.

Omnicell Trading Down 2.1%

OMCL stock opened at $28.23 on Friday. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 104.56, a PEG ratio of 7.53 and a beta of 0.78. 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 business has a fifty day simple moving average of $30.94 and a 200-day simple moving average of $38.62. Omnicell has a 52 week low of $22.66 and a 52 week high of $55.75.

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

Institutional Investors Weigh In On Omnicell

Several hedge funds have recently made changes to their positions in OMCL. Smartleaf Asset Management LLC boosted its position in shares of Omnicell by 51.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 803 shares of the company’s stock worth $35,000 after buying an additional 273 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Omnicell during the 4th quarter valued at $37,000. Van ECK Associates Corp increased its stake in shares of Omnicell by 47.0% in the fourth quarter. Van ECK Associates Corp now owns 985 shares of the company’s stock worth $44,000 after acquiring an additional 315 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Omnicell during the fourth quarter worth $53,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Omnicell by 36.3% during the 4th quarter. First Horizon Advisors Inc. now owns 1,333 shares of the company’s stock worth $59,000 after purchasing an additional 355 shares in 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.