750,491 Shares in Omnicell, Inc. (NASDAQ:OMCL) Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Omnicell, Inc. (NASDAQ:OMCL) in the third quarter, HoldingsChannel reports. The institutional investor purchased 750,491 shares of the company’s stock, valued at approximately $32,721,000.

Several other hedge funds also recently modified their holdings of the company. Apollon Wealth Management LLC bought a new position in Omnicell during the third quarter valued at about $249,000. Summit Global Investments bought a new position in shares of Omnicell during the 3rd quarter valued at about $221,000. QRG Capital Management Inc. bought a new stake in shares of Omnicell in the 3rd quarter worth approximately $231,000. Rice Hall James & Associates LLC bought a new stake in shares of Omnicell in the 3rd quarter worth approximately $2,723,000. Finally, 1620 Investment Advisors Inc. lifted its stake in Omnicell by 230.1% during the third quarter. 1620 Investment Advisors Inc. now owns 2,212 shares of the company’s stock valued at $96,000 after purchasing an additional 1,542 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Omnicell Price Performance

NASDAQ:OMCL opened at $45.67 on Friday. The stock’s 50-day moving average is $44.20 and its two-hundred day moving average is $36.82. The stock has a market cap of $2.12 billion, a PE ratio of -117.10, a price-to-earnings-growth ratio of 46.03 and a beta of 0.81. Omnicell, Inc. has a fifty-two week low of $25.12 and a fifty-two week high of $55.74.

Analysts Set New Price Targets

Several research analysts have issued reports on OMCL shares. JPMorgan Chase & Co. upped 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. Barclays upped their target price on Omnicell from $39.00 to $58.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Wells Fargo & Company lifted their price target on Omnicell from $30.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. StockNews.com downgraded Omnicell from a “buy” rating to a “hold” rating in a report on Friday. Finally, Benchmark reiterated a “buy” rating and issued a $48.00 target price on shares of Omnicell in a report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $50.83.

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.