Wells Fargo & Company Cuts Omnicell (NASDAQ:OMCL) Price Target to $31.00

Omnicell (NASDAQ:OMCL - Free Report) had its price target reduced by Wells Fargo & Company from $38.00 to $31.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other brokerages have also recently weighed in on OMCL. JPMorgan Chase & Co. dropped their price target on Omnicell from $44.00 to $36.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. StockNews.com cut Omnicell from a "buy" rating to a "hold" rating in a research note on Saturday, May 3rd. Finally, Benchmark restated a "buy" rating and set a $62.00 price target on shares of Omnicell in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Omnicell currently has a consensus rating of "Hold" and an average price target of $45.83.

Omnicell Stock Performance

OMCL traded up $0.49 during trading hours on Wednesday, hitting $25.88. 861,824 shares of the stock were exchanged, compared to its average volume of 551,620. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 95.86, a price-to-earnings-growth ratio of 7.53 and a beta of 0.78. The stock has a 50-day simple moving average of $32.28 and a 200-day simple moving average of $39.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.37 and a quick ratio of 1.22. Omnicell has a 12 month low of $22.66 and a 12 month high of $55.75.

Omnicell (NASDAQ:OMCL - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.10. Omnicell had a net margin of 1.13% and a return on equity of 3.82%. The company had revenue of $269.67 million for the quarter, compared to the consensus estimate of $260.18 million. During the same period last year, the firm posted $0.03 EPS. The company's revenue for the quarter was up 9.5% on a year-over-year basis. Analysts anticipate that Omnicell will post 1.09 earnings per share for the current year.

Institutional Trading of Omnicell

Hedge funds and other institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its stake in Omnicell by 51.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 803 shares of the company's stock worth $35,000 after acquiring an additional 273 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Omnicell in the 4th quarter valued at about $37,000. Van ECK Associates Corp lifted its position in shares of Omnicell by 47.0% in the fourth quarter. Van ECK Associates Corp now owns 985 shares of the company's stock worth $44,000 after purchasing an additional 315 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Omnicell during the fourth quarter worth approximately $53,000. Finally, First Horizon Advisors Inc. grew its position in Omnicell by 36.3% during the fourth quarter. First Horizon Advisors Inc. now owns 1,333 shares of the company's stock valued at $59,000 after purchasing an additional 355 shares in the last quarter. Institutional investors and hedge funds 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.