Omnicell (NASDAQ:OMCL) Price Target Cut to $40.00 by Analysts at Wells Fargo & Company

Omnicell (NASDAQ:OMCL) had its price target decreased by Wells Fargo & Company from $49.00 to $40.00 in a report published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other brokerages have also issued reports on OMCL. Craig Hallum lifted their target price on shares of Omnicell from $45.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Bank of America dropped their target price on shares of Omnicell from $54.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Barclays lifted their target price on shares of Omnicell from $39.00 to $58.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Benchmark restated a “buy” rating and set a $48.00 price objective on shares of Omnicell in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Omnicell from $37.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $50.00.

Omnicell Stock Up 0.1 %

Shares of NASDAQ OMCL opened at $42.32 on Monday. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -108.51, a P/E/G ratio of 34.96 and a beta of 0.78. Omnicell has a 12 month low of $25.12 and a 12 month high of $55.74. The business has a fifty day simple moving average of $45.76 and a 200-day simple moving average of $41.33.

Insider Activity

In related news, Director Mark W. Parrish sold 12,000 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $47.30, for a total transaction of $567,600.00. Following the completion of the transaction, the director now directly owns 58,427 shares in the company, valued at approximately $2,763,597.10. This trade represents a 17.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.64% of the stock is owned by company insiders.

Institutional Trading of Omnicell

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its stake in shares of Omnicell by 11,982.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,148,426 shares of the company’s stock worth $50,071,000 after purchasing an additional 1,138,921 shares in the last quarter. Federated Hermes Inc. grew its holdings in Omnicell by 1,113.6% in the 2nd quarter. Federated Hermes Inc. now owns 991,151 shares of the company’s stock valued at $26,830,000 after buying an additional 909,480 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in Omnicell in the 3rd quarter valued at $32,721,000. Pacer Advisors Inc. grew its holdings in Omnicell by 32.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,070,434 shares of the company’s stock valued at $56,047,000 after buying an additional 508,789 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Omnicell by 750.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 294,037 shares of the company’s stock valued at $12,820,000 after buying an additional 259,463 shares in the last quarter. 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.