Omnicell (NASDAQ:OMCL) Shares Gap Down – What’s Next?

Omnicell, Inc. (NASDAQ:OMCL)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $46.05, but opened at $42.82. Omnicell shares last traded at $43.01, with a volume of 95,570 shares traded.

Analysts Set New Price Targets

Several research analysts recently issued reports on OMCL shares. Bank of America reissued a “neutral” rating and set a $57.00 target price (up previously from $44.00) on shares of Omnicell in a report on Thursday, October 31st. Benchmark reaffirmed a “buy” rating and set a $48.00 target price on shares of Omnicell in a report on Wednesday, October 9th. Craig Hallum boosted 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. StockNews.com lowered Omnicell from a “buy” rating to a “hold” rating in a report on Friday. Finally, Wells Fargo & Company raised their price target on shares of Omnicell from $30.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Omnicell has an average rating of “Hold” and a consensus price target of $50.83.

Omnicell Stock Performance

The business has a 50 day simple moving average of $44.23 and a 200-day simple moving average of $37.08. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -110.36, a P/E/G ratio of 43.97 and a beta of 0.81.

Hedge Funds Weigh In On Omnicell

Institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC increased its position in shares of Omnicell by 7.4% during the first quarter. ProShare Advisors LLC now owns 9,076 shares of the company’s stock valued at $265,000 after acquiring an additional 626 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Omnicell by 14.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 14,660 shares of the company’s stock worth $429,000 after purchasing an additional 1,830 shares during the last quarter. 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 valued at $165,200,000 after buying an additional 80,312 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Omnicell by 5.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 52,262 shares of the company’s stock valued at $1,527,000 after acquiring an additional 2,701 shares during the last quarter. Finally, Pitcairn Co. boosted its stake in Omnicell by 31.8% in the first quarter. Pitcairn Co. now owns 11,909 shares of the company’s stock valued at $348,000 after acquiring an additional 2,871 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.