Wells Fargo & Company Cuts Omnicell (NASDAQ:OMCL) Price Target to $40.00

Omnicell (NASDAQ:OMCL) had its target price reduced by equities research analysts at Wells Fargo & Company from $49.00 to $40.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 4.76% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Benchmark reissued a “buy” rating and set a $48.00 price objective on shares of Omnicell in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on Omnicell from $37.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. StockNews.com downgraded Omnicell from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Bank of America reduced their price objective on Omnicell from $54.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, Barclays upped their price objective on Omnicell from $39.00 to $58.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.00.

Omnicell Stock Performance

Shares of OMCL stock traded down $0.28 on Monday, reaching $42.00. 22,266 shares of the company’s stock traded hands, compared to its average volume of 336,716. Omnicell has a 12-month low of $25.12 and a 12-month high of $55.74. The company has a market capitalization of $1.95 billion, a P/E ratio of -107.69, a price-to-earnings-growth ratio of 34.96 and a beta of 0.78. The business’s 50 day moving average price is $45.88 and its two-hundred day moving average price is $41.22.

Insider Activity at Omnicell

In other Omnicell news, Director Mark W. Parrish sold 12,000 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $47.30, for a total transaction of $567,600.00. Following the completion of the transaction, the director now owns 58,427 shares in the company, valued at approximately $2,763,597.10. This represents a 17.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Omnicell

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Omnicell by 78.4% in the 3rd 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. 1620 Investment Advisors Inc. lifted its position in Omnicell by 230.1% during the third quarter. 1620 Investment Advisors Inc. now owns 2,212 shares of the company’s stock worth $96,000 after acquiring an additional 1,542 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Omnicell during the second quarter worth approximately $104,000. Summit Global Investments acquired a new stake in Omnicell during the third quarter worth approximately $221,000. Finally, QRG Capital Management Inc. acquired a new stake in Omnicell during the third quarter worth approximately $231,000. Institutional investors own 97.70% of the company’s stock.

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.