Bank of America Reaffirms “Neutral” Rating for Omnicell (NASDAQ:OMCL)

Omnicell (NASDAQ:OMCL)‘s stock had its “neutral” rating restated by analysts at Bank of America in a research note issued on Thursday, Benzinga reports. They currently have a $57.00 price objective on the stock, up from their prior price objective of $44.00. Bank of America‘s target price indicates a potential upside of 7.45% from the stock’s current price.

OMCL has been the topic of a number of other reports. Wells Fargo & Company lifted their price target 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. Benchmark reaffirmed a “buy” rating and issued a $48.00 target price on shares of Omnicell in a report on Wednesday, October 9th. StockNews.com upgraded Omnicell from a “hold” rating to a “buy” rating in a research report on Saturday, October 19th. JPMorgan Chase & Co. raised their price target on Omnicell from $26.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Finally, Barclays raised Omnicell from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $26.00 to $39.00 in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Omnicell currently has a consensus rating of “Hold” and an average target price of $43.50.

Omnicell Price Performance

NASDAQ OMCL opened at $53.05 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.22 and a current ratio of 2.45. The business’s fifty day moving average is $43.14 and its 200 day moving average is $35.07. The company has a market capitalization of $2.44 billion, a PE ratio of -115.33, a price-to-earnings-growth ratio of 43.55 and a beta of 0.83. Omnicell has a fifty-two week low of $25.12 and a fifty-two week high of $55.74.

Omnicell (NASDAQ:OMCL) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.37. Omnicell had a negative net margin of 1.92% and a positive return on equity of 2.52%. The firm had revenue of $276.80 million for the quarter, compared to analysts’ expectations of $254.41 million. During the same quarter last year, the business posted $0.29 earnings per share. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. Sell-side analysts predict that Omnicell will post 0.64 earnings per share for the current year.

Institutional Investors Weigh In On Omnicell

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Omnicell by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 5,651,732 shares of the company’s stock worth $165,200,000 after purchasing an additional 80,312 shares during the period. Mutual of America Capital Management LLC boosted its stake in Omnicell by 197.9% during the first quarter. Mutual of America Capital Management LLC now owns 124,600 shares of the company’s stock worth $3,642,000 after buying an additional 82,774 shares during the period. Assenagon Asset Management S.A. boosted its stake in Omnicell by 61.3% during the second quarter. Assenagon Asset Management S.A. now owns 599,928 shares of the company’s stock worth $16,240,000 after buying an additional 228,093 shares during the period. SG Americas Securities LLC bought a new position in Omnicell during the first quarter valued at $684,000. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of Omnicell in the first quarter valued at $718,000. 97.70% of the stock is 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.