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

Omnicell (NASDAQ:OMCL) received a $55.00 target price from Piper Sandler in a note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 73.56% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company lifted their price objective on Omnicell from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Wall Street Zen downgraded shares of Omnicell from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Bank of America raised their price objective on shares of Omnicell from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. Finally, Benchmark dropped their price objective on shares of Omnicell from $62.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Omnicell has an average rating of “Moderate Buy” and an average price target of $46.71.

Omnicell Trading Up 0.7%

OMCL stock traded up $0.22 on Monday, reaching $31.69. The company’s stock had a trading volume of 680,602 shares, compared to its average volume of 604,079. The business has a fifty day simple moving average of $29.45 and a two-hundred day simple moving average of $32.34. Omnicell has a 12-month low of $22.66 and a 12-month high of $55.74. The firm has a market cap of $1.46 billion, a PE ratio of 63.38, a PEG ratio of 9.18 and a beta of 0.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.24 and a current ratio of 1.42.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Alliancebernstein L.P. boosted its stake in Omnicell by 4.3% in the 4th quarter. Alliancebernstein L.P. now owns 55,922 shares of the company’s stock worth $2,490,000 after purchasing an additional 2,316 shares during the period. Wells Fargo & Company MN boosted its stake in Omnicell by 27.3% in the 4th quarter. Wells Fargo & Company MN now owns 132,252 shares of the company’s stock worth $5,888,000 after purchasing an additional 28,390 shares during the period. Invesco Ltd. boosted its stake in Omnicell by 2.4% in the 4th quarter. Invesco Ltd. now owns 219,453 shares of the company’s stock worth $9,770,000 after purchasing an additional 5,063 shares during the period. Legal & General Group Plc boosted its stake in Omnicell by 3.2% in the 4th quarter. Legal & General Group Plc now owns 352,700 shares of the company’s stock worth $15,702,000 after purchasing an additional 10,847 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Omnicell by 79.3% in the 4th quarter. Renaissance Technologies LLC now owns 456,343 shares of the company’s stock worth $20,316,000 after purchasing an additional 201,831 shares during the period. 97.70% of the stock is currently owned by 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.