Bank of America Issues Pessimistic Forecast for Omnicell (NASDAQ:OMCL) Stock Price

Omnicell (NASDAQ:OMCL) had its price objective lowered by investment analysts at Bank of America from $54.00 to $46.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s target price would suggest a potential upside of 6.06% from the company’s previous close.

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

Omnicell Stock Down 3.0 %

NASDAQ OMCL opened at $43.37 on Monday. Omnicell has a fifty-two week low of $25.12 and a fifty-two week high of $55.74. The business has a fifty day moving average of $46.25 and a 200-day moving average of $40.77. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -111.20, a price-to-earnings-growth ratio of 34.96 and a beta of 0.78.

Insider Activity

In other news, Director Mark W. Parrish sold 12,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $47.30, for a total value of $567,600.00. Following the transaction, the director now owns 58,427 shares of the company’s stock, valued at approximately $2,763,597.10. This trade represents a 17.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.64% of the company’s stock.

Institutional Inflows and Outflows

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