Benchmark Forecasts Strong Price Appreciation for Omnicell (NASDAQ:OMCL) Stock

Omnicell (NASDAQ:OMCL) had its price target upped by research analysts at Benchmark from $45.00 to $50.00 in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm presently has a “buy” rating on the stock. Benchmark’s price target would indicate a potential upside of 13.71% from the company’s previous close.

Several other equities analysts also recently issued reports on OMCL. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Omnicell in a research note on Wednesday, October 8th. Piper Sandler reduced their price objective on shares of Omnicell from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, August 11th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Omnicell has a consensus rating of “Hold” and a consensus price target of $43.00.

Omnicell Stock Performance

Omnicell stock opened at $43.97 on Tuesday. The business has a 50 day moving average of $34.27 and a 200-day moving average of $31.76. The company has a market capitalization of $1.97 billion, a P/E ratio of 102.26, a P/E/G ratio of 5.38 and a beta of 0.83. Omnicell has a 1 year low of $22.66 and a 1 year high of $47.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.44 and a quick ratio of 1.21.

Insiders Place Their Bets

In related news, EVP Corey J. Manley sold 3,880 shares of Omnicell stock in a transaction on Friday, September 12th. The shares were sold at an average price of $33.25, for a total transaction of $129,010.00. Following the completion of the transaction, the executive vice president owned 110,653 shares of the company’s stock, valued at $3,679,212.25. This trade represents a 3.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.52% of the stock is owned by corporate insiders.

Institutional Trading of Omnicell

A number of large investors have recently bought and sold shares of the business. CIBC Bancorp USA Inc. acquired a new position in shares of Omnicell in the 3rd quarter valued at about $224,000. Jacobs Levy Equity Management Inc. acquired a new stake in Omnicell during the third quarter worth approximately $1,924,000. Dark Forest Capital Management LP bought a new stake in Omnicell in the third quarter worth approximately $438,000. Nomura Holdings Inc. lifted its stake in Omnicell by 19.8% in the third quarter. Nomura Holdings Inc. now owns 99,690 shares of the company’s stock valued at $3,036,000 after buying an additional 16,455 shares during the period. Finally, Mariner LLC acquired a new position in Omnicell in the third quarter valued at approximately $388,000. 97.70% of the stock is currently owned by institutional investors and hedge funds.

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.