Bank of America Has Lowered Expectations for Omnicell (NASDAQ:OMCL) Stock Price

Omnicell (NASDAQ:OMCL) had its price target dropped by stock analysts at Bank of America from $54.00 to $46.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s target price suggests a potential upside of 6.06% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Benchmark reissued a “buy” rating and set a $48.00 price target on shares of Omnicell in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on Omnicell from $37.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. StockNews.com lowered shares of Omnicell from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Craig Hallum upped their price objective on shares of Omnicell from $45.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their target price on shares of Omnicell from $30.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $50.17.

Omnicell Price Performance

Shares of Omnicell stock opened at $43.37 on Monday. The firm’s fifty day simple moving average is $46.25 and its 200-day simple moving average is $40.77. Omnicell has a 12 month low of $25.12 and a 12 month high of $55.74. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -111.20, a PEG ratio of 34.96 and a beta of 0.78.

Insider Activity

In other Omnicell news, Director Mark W. Parrish sold 12,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $47.30, for a total transaction of $567,600.00. Following the transaction, the director now directly owns 58,427 shares in the company, valued at approximately $2,763,597.10. This represents a 17.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.64% of the company’s stock.

Institutional Investors Weigh In On Omnicell

Several institutional investors have recently modified their holdings of the company. Arizona State Retirement System increased its stake in Omnicell by 2.9% in the 2nd quarter. Arizona State Retirement System now owns 12,853 shares of the company’s stock valued at $348,000 after purchasing an additional 357 shares in the last quarter. GAMMA Investing LLC grew its holdings in Omnicell by 78.4% in the third quarter. GAMMA Investing LLC now owns 1,258 shares of the company’s stock valued at $55,000 after purchasing an additional 553 shares during the last quarter. Curi RMB Capital LLC increased its position in shares of Omnicell by 0.7% in the third quarter. Curi RMB Capital LLC now owns 88,815 shares of the company’s stock valued at $3,872,000 after buying an additional 651 shares in the last quarter. Ensign Peak Advisors Inc raised its stake in shares of Omnicell by 5.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 17,786 shares of the company’s stock worth $481,000 after buying an additional 850 shares during the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Omnicell by 7.5% in the 2nd quarter. Inspire Investing LLC now owns 13,024 shares of the company’s stock worth $353,000 after buying an additional 913 shares in 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.