Omnicell, Inc. (NASDAQ:OMCL) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Omnicell, Inc. (NASDAQ:OMCL) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $44.83.

A number of brokerages recently weighed in on OMCL. Piper Sandler reiterated an “overweight” rating on shares of Omnicell in a research note on Friday. Bank of America increased their price target on shares of Omnicell from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, May 23rd. Wells Fargo & Company reiterated an “overweight” rating and issued a $37.00 price target (up previously from $35.00) on shares of Omnicell in a report on Friday, May 23rd. Benchmark cut their price target on shares of Omnicell from $62.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of Omnicell from $44.00 to $36.00 and set a “neutral” rating for the company in a report on Thursday, March 20th.

Hedge Funds Weigh In On Omnicell

Several hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its holdings in Omnicell by 51.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 803 shares of the company’s stock valued at $35,000 after acquiring an additional 273 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in Omnicell by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,774 shares of the company’s stock valued at $213,000 after acquiring an additional 307 shares in the last quarter. Van ECK Associates Corp increased its holdings in Omnicell by 47.0% during the 4th quarter. Van ECK Associates Corp now owns 985 shares of the company’s stock valued at $44,000 after acquiring an additional 315 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Omnicell by 36.3% during the 4th quarter. First Horizon Advisors Inc. now owns 1,333 shares of the company’s stock valued at $59,000 after acquiring an additional 355 shares in the last quarter. Finally, Redmond Asset Management LLC increased its holdings in Omnicell by 0.3% during the 4th quarter. Redmond Asset Management LLC now owns 121,209 shares of the company’s stock valued at $5,396,000 after acquiring an additional 371 shares in the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Omnicell Price Performance

Shares of OMCL opened at $29.61 on Wednesday. Omnicell has a fifty-two week low of $22.66 and a fifty-two week high of $55.75. The firm’s 50 day moving average price is $30.70 and its 200 day moving average price is $38.41. The company has a market cap of $1.39 billion, a P/E ratio of 109.67, 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.

Omnicell (NASDAQ:OMCL) last announced its earnings results on Tuesday, May 6th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $260.18 million. During the same period in the prior year, the firm earned $0.03 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, research analysts forecast that Omnicell will post 1.09 earnings per share for the current fiscal year.

About Omnicell

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.