Omnicell (NASDAQ:OMCL) Trading Down 2.4% – What’s Next?

Omnicell, Inc. (NASDAQ:OMCL)’s stock price fell 2.4% during trading on Tuesday . The stock traded as low as $43.19 and last traded at $43.43. 48,856 shares were traded during mid-day trading, a decline of 91% from the average session volume of 542,978 shares. The stock had previously closed at $44.50.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. StockNews.com cut Omnicell from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Bank of America reissued a “neutral” rating and set a $57.00 price target (up from $44.00) on shares of Omnicell in a research report on Thursday, October 31st. Benchmark reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Omnicell in a research report on Wednesday, October 9th. Wells Fargo & Company boosted their target price on shares of Omnicell from $30.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. raised their price target on shares of Omnicell from $37.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $52.00.

Omnicell Stock Down 2.9 %

The firm has a market cap of $2.00 billion, a P/E ratio of -110.77, a price-to-earnings-growth ratio of 34.96 and a beta of 0.78. The business’s 50 day moving average is $45.60 and its 200-day moving average is $39.75.

Insider Transactions at Omnicell

In other Omnicell news, Director Mark W. Parrish sold 12,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $47.30, for a total transaction of $567,600.00. Following the transaction, the director now owns 58,427 shares of the company’s stock, valued at $2,763,597.10. This trade represents a 17.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.64% of the company’s stock.

Institutional Investors Weigh In On Omnicell

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in Omnicell by 78.4% in the third quarter. GAMMA Investing LLC now owns 1,258 shares of the company’s stock worth $55,000 after purchasing an additional 553 shares during the period. 1620 Investment Advisors Inc. boosted its holdings in shares of Omnicell by 230.1% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,212 shares of the company’s stock valued at $96,000 after buying an additional 1,542 shares during the period. Headlands Technologies LLC bought a new stake in shares of Omnicell during the 2nd quarter valued at about $104,000. Summit Global Investments acquired a new stake in Omnicell during the third quarter worth about $221,000. Finally, QRG Capital Management Inc. bought a new position in Omnicell in the third quarter worth about $231,000. 97.70% of the stock is owned by institutional investors and hedge funds.

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.