Benchmark Reaffirms “Buy” Rating for Omnicell (NASDAQ:OMCL)

Omnicell (NASDAQ:OMCL)‘s stock had its “buy” rating restated by research analysts at Benchmark in a report issued on Tuesday,Benzinga reports. They presently have a $62.00 price target on the stock. Benchmark’s price objective suggests a potential upside of 39.70% from the company’s current price.

Several other equities analysts also recently issued reports on the company. Barclays upped their target price on Omnicell from $39.00 to $58.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. StockNews.com downgraded Omnicell from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Craig Hallum increased their price target on shares of Omnicell from $45.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their price target 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. Finally, Wells Fargo & Company dropped their price objective on shares of Omnicell from $49.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $52.33.

Omnicell Price Performance

Shares of OMCL stock opened at $44.38 on Tuesday. The stock’s fifty day moving average price is $44.60 and its 200 day moving average price is $43.22. Omnicell has a 1-year low of $25.12 and a 1-year high of $55.74. The company has a market cap of $2.06 billion, a price-to-earnings ratio of -113.79, a price-to-earnings-growth ratio of 30.78 and a beta of 0.78.

Insider Activity

In other Omnicell news, Director Mark W. Parrish sold 12,000 shares of Omnicell stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $47.30, for a total value of $567,600.00. Following the completion of the transaction, the director now owns 58,427 shares of the company’s stock, valued at approximately $2,763,597.10. The trade was a 17.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.64% of the company’s stock.

Institutional Investors Weigh In On Omnicell

Hedge funds have recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in Omnicell by 10.3% in the 2nd quarter. AQR Capital Management LLC now owns 49,071 shares of the company’s stock worth $1,328,000 after purchasing an additional 4,572 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Omnicell by 6.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,459 shares of the company’s stock worth $635,000 after buying an additional 1,360 shares during the period. SG Americas Securities LLC lifted its position in shares of Omnicell by 67.3% during the 3rd quarter. SG Americas Securities LLC now owns 25,157 shares of the company’s stock valued at $1,097,000 after buying an additional 10,116 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Omnicell by 78.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,258 shares of the company’s stock valued at $55,000 after buying an additional 553 shares in the last quarter. Finally, Diversified Trust Co grew its stake in Omnicell by 43.0% in the 3rd quarter. Diversified Trust Co now owns 21,966 shares of the company’s stock valued at $958,000 after acquiring an additional 6,602 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.