Omnicell (NASDAQ:OMCL) Given a $55.00 Price Target by Piper Sandler Analysts

Key Points

• Analysts at Piper Sandler reduced their price target for Omnicell from $57.00 to $55.00, maintaining an "overweight" rating, indicating a potential upside of 78.40% from the previous closing price.
• Other analysts, including Bank of America and Wells Fargo & Company, have also adjusted their price targets, with consensus sitting at a target of $46.71 and a rating of "Moderate Buy."
• Omnicell's stock opened at $30.83, and the company reported earnings of $0.45 per share for the last quarter, exceeding analysts' expectations.

Piper Sandler set a $55.00 target price on Omnicell (NASDAQ:OMCL - Free Report) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Omnicell from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Wells Fargo & Company raised their target price on shares of Omnicell from $37.00 to $40.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Benchmark reduced 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, 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. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $46.71.

Omnicell Price Performance

OMCL stock traded up $0.71 on Monday, hitting $31.54. 495,960 shares of the company's stock traded hands, compared to its average volume of 598,879. Omnicell has a 1-year low of $22.66 and a 1-year high of $55.74. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 63.08, a P/E/G ratio of 9.00 and a beta of 0.78. The stock has a fifty day moving average of $29.42 and a 200-day moving average of $32.53. The company has a current ratio of 1.42, a quick ratio of 1.24 and a debt-to-equity ratio of 0.13.

Omnicell (NASDAQ:OMCL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.30 by $0.15. The business had revenue of $290.56 million during the quarter, compared to the consensus estimate of $275.57 million. Omnicell had a net margin of 2.01% and a return on equity of 4.27%. The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. On average, analysts forecast that Omnicell will post 1.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Omnicell

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in Omnicell by 10.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,680,347 shares of the company's stock valued at $58,745,000 after acquiring an additional 154,038 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Omnicell by 31.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,642,626 shares of the company's stock worth $73,127,000 after acquiring an additional 394,820 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Omnicell by 81.6% during the 4th quarter. Lazard Asset Management LLC now owns 1,641,817 shares of the company's stock worth $73,093,000 after acquiring an additional 737,536 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Omnicell by 1.3% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,423,604 shares of the company's stock worth $41,854,000 after acquiring an additional 17,680 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its stake in Omnicell by 4.9% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,196,990 shares of the company's stock worth $53,290,000 after acquiring an additional 56,117 shares during the last quarter. Institutional investors and hedge funds 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.