Omnicell (NASDAQ:OMCL) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of Omnicell (NASDAQ:OMCL) from a neutral rating to a buy rating in a research note released on Wednesday morning, Marketbeat Ratings reports. The firm currently has $70.00 price target on the stock.

Several other brokerages have also recently issued reports on OMCL. KeyCorp upgraded Omnicell from a “sector weight” rating to an “overweight” rating and set a $60.00 price objective on the stock in a research note on Wednesday, January 7th. UBS Group set a $53.00 price target on Omnicell in a research report on Friday, January 16th. Zacks Research cut Omnicell from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Wells Fargo & Company upped their target price on shares of Omnicell from $43.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Finally, Benchmark raised their target price on shares of Omnicell from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Omnicell presently has an average rating of “Moderate Buy” and a consensus price target of $55.14.

Omnicell Trading Up 1.4%

Shares of OMCL stock opened at $46.69 on Wednesday. Omnicell has a fifty-two week low of $22.66 and a fifty-two week high of $55.00. The company has a 50 day moving average price of $46.16 and a 200 day moving average price of $36.91. The stock has a market capitalization of $2.10 billion, a P/E ratio of 108.58, a price-to-earnings-growth ratio of 4.90 and a beta of 0.78. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.21 and a current ratio of 1.44.

Insider Buying and Selling

In other Omnicell news, EVP Corey J. Manley sold 6,106 shares of Omnicell stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $49.90, for a total value of $304,689.40. Following the transaction, the executive vice president directly owned 91,674 shares in the company, valued at approximately $4,574,532.60. This trade represents a 6.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.52% of the company’s stock.

Institutional Trading of Omnicell

Institutional investors have recently modified their holdings of the business. WINTON GROUP Ltd acquired a new stake in Omnicell in the 2nd quarter valued at about $2,692,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Omnicell by 1.3% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,423,604 shares of the company’s stock valued at $41,854,000 after purchasing an additional 17,680 shares in the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in shares of Omnicell in the second quarter valued at approximately $2,476,000. Assenagon Asset Management S.A. increased its stake in shares of Omnicell by 1,316.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 140,675 shares of the company’s stock worth $4,284,000 after purchasing an additional 130,742 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Omnicell by 2.1% during the 2nd quarter. Nordea Investment Management AB now owns 125,969 shares of the company’s stock worth $3,739,000 after purchasing an additional 2,580 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Omnicell Company Profile

Omnicell, Inc is a healthcare technology company that specializes in medication management solutions for hospitals, clinics and pharmacies. The company’s offerings encompass automated dispensing cabinets, pharmacy automation systems, IV compounding devices, and software platforms designed to optimize medication usage, streamline workflow and improve patient safety. Omnicell’s analytics and inventory management tools provide real-time visibility into medication utilization, helping healthcare providers reduce waste, manage controlled substances and ensure regulatory compliance.

Founded in Mountain View, California in 1992, Omnicell has grown through both internal innovation and strategic acquisitions to broaden its portfolio across the medication management continuum.