Omnicell (NASDAQ:OMCL) Price Target Raised to $40.00

Omnicell (NASDAQ:OMCL - Free Report) had its target price raised by Wells Fargo & Company from $37.00 to $40.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also commented on OMCL. Wall Street Zen raised Omnicell from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 12th. Piper Sandler reissued an "overweight" rating on shares of Omnicell in a research report on Friday, May 23rd. Bank of America upped their target price on Omnicell from $30.00 to $34.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Finally, Benchmark dropped their price target on Omnicell from $62.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $45.33.

Omnicell Trading Up 0.1%

Shares of Omnicell stock traded up $0.03 on Monday, reaching $28.23. The company had a trading volume of 220,439 shares, compared to its average volume of 560,704. The firm's 50-day moving average price is $29.10 and its two-hundred day moving average price is $33.84. Omnicell has a 1 year low of $22.66 and a 1 year high of $55.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.38 and a quick ratio of 1.23. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 61.39, a P/E/G ratio of 8.25 and a beta of 0.76.

Omnicell (NASDAQ:OMCL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.10. Omnicell had a return on equity of 4.60% and a net margin of 1.87%. The company had revenue of $269.67 million during the quarter, compared to analysts' expectations of $260.18 million. During the same quarter in the previous year, the business earned $0.03 EPS. Omnicell's revenue was up 9.5% compared to the same quarter last year. As a group, research analysts predict that Omnicell will post 1.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Omnicell

A number of hedge funds have recently bought and sold shares of the business. Hunter Perkins Capital Management LLC purchased a new position in Omnicell during the second quarter worth approximately $275,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Omnicell by 7.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,040 shares of the company's stock worth $236,000 after purchasing an additional 552 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Omnicell by 8.7% during the second quarter. State of Alaska Department of Revenue now owns 27,906 shares of the company's stock valued at $819,000 after acquiring an additional 2,242 shares during the last quarter. Accurate Wealth Management LLC raised its holdings in shares of Omnicell by 26.9% during the second quarter. Accurate Wealth Management LLC now owns 45,850 shares of the company's stock valued at $1,365,000 after acquiring an additional 9,719 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Omnicell by 37.1% during the second quarter. GAMMA Investing LLC now owns 1,694 shares of the company's stock valued at $50,000 after acquiring an additional 458 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company's stock.

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.