Wells Fargo & Company Forecasts Strong Price Appreciation for Omnicell (NASDAQ:OMCL) Stock

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

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

Omnicell Stock Up 0.8%

Shares of OMCL stock traded up $0.23 during trading on Monday, hitting $28.26. 476,275 shares of the company were exchanged, compared to its average volume of 563,879. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 1.38. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 61.44, a P/E/G ratio of 7.84 and a beta of 0.76. Omnicell has a twelve month low of $22.66 and a twelve month high of $55.75. The business's 50-day simple moving average is $29.10 and its 200 day simple moving average is $34.04.

Omnicell (NASDAQ:OMCL - Get Free Report) last announced 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 net margin of 1.87% and a return on equity of 4.60%. 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 prior year, the company posted $0.03 EPS. The business's revenue was up 9.5% on a year-over-year basis. As a group, analysts forecast that Omnicell will post 1.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Omnicell

Hedge funds have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. lifted its holdings in Omnicell by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,774 shares of the company's stock valued at $213,000 after purchasing an additional 307 shares during the last quarter. GAMMA Investing LLC lifted its stake in Omnicell by 37.1% in 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. Diversified Trust Co raised its position in shares of Omnicell by 2.3% in the first quarter. Diversified Trust Co now owns 22,660 shares of the company's stock valued at $792,000 after purchasing an additional 513 shares during the period. Mirae Asset Global Investments Co. Ltd. increased 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 acquiring an additional 552 shares during the period. Finally, Bridge City Capital LLC grew its stake in Omnicell by 1.6% during the first quarter. Bridge City Capital LLC now owns 40,136 shares of the company's stock worth $1,403,000 after buying an additional 650 shares in 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.