Omnicell, Inc. (NASDAQ:OMCL) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. raised its position in Omnicell, Inc. (NASDAQ:OMCL) by 49.9% during the third quarter, HoldingsChannel.com reports. The firm owned 30,807 shares of the company’s stock after buying an additional 10,260 shares during the quarter. Franklin Resources Inc.’s holdings in Omnicell were worth $1,316,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of OMCL. Victory Capital Management Inc. raised its holdings in Omnicell by 11,982.3% in the third quarter. Victory Capital Management Inc. now owns 1,148,426 shares of the company’s stock valued at $50,071,000 after buying an additional 1,138,921 shares during the period. Federated Hermes Inc. increased its position in shares of Omnicell by 1,113.6% in the second quarter. Federated Hermes Inc. now owns 991,151 shares of the company’s stock worth $26,830,000 after acquiring an additional 909,480 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Omnicell in the 3rd quarter valued at $32,721,000. Pacer Advisors Inc. lifted its holdings in shares of Omnicell by 32.6% during the 2nd quarter. Pacer Advisors Inc. now owns 2,070,434 shares of the company’s stock valued at $56,047,000 after acquiring an additional 508,789 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Omnicell by 750.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 294,037 shares of the company’s stock valued at $12,820,000 after acquiring an additional 259,463 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Omnicell Stock Performance

Shares of OMCL opened at $44.06 on Friday. Omnicell, Inc. has a one year low of $25.12 and a one year high of $55.74. The stock has a 50-day moving average price of $45.73 and a 200 day moving average price of $39.91. The company has a market capitalization of $2.04 billion, a P/E ratio of -112.97, a P/E/G ratio of 34.96 and a beta of 0.77.

Wall Street Analyst Weigh In

OMCL has been the subject of several recent research reports. Craig Hallum increased their price target on Omnicell from $45.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Barclays increased their target price on Omnicell from $39.00 to $58.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their price target on Omnicell from $30.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Bank of America reaffirmed a “neutral” rating and issued a $57.00 price objective (up previously from $44.00) on shares of Omnicell in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Omnicell from $37.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $52.00.

Insider Activity

In other news, Director Mark W. Parrish sold 12,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $47.30, for a total value of $567,600.00. Following the sale, the director now owns 58,427 shares in the company, valued at approximately $2,763,597.10. This represents a 17.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.64% of the company’s stock.

Omnicell 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.