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

Omnicell (NASDAQ:OMCL - Free Report) had its price objective lowered by Bank of America from $54.00 to $46.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages also recently commented on OMCL. JPMorgan Chase & Co. raised their price objective on shares of Omnicell from $37.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, November 21st. Craig Hallum raised their price objective on shares of Omnicell from $45.00 to $64.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Wells Fargo & Company raised their price objective on shares of Omnicell from $30.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Monday, October 14th. Benchmark reaffirmed a "buy" rating and set a $48.00 price objective on shares of Omnicell in a research report on Wednesday, October 9th. Finally, StockNews.com downgraded shares of Omnicell from a "buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Omnicell has an average rating of "Hold" and an average target price of $50.17.

Omnicell Trading Down 1.3 %

NASDAQ:OMCL traded down $0.61 on Monday, reaching $44.71. 365,558 shares of the stock traded hands, compared to its average volume of 275,119. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -114.64, a price-to-earnings-growth ratio of 34.96 and a beta of 0.78. The company's 50 day moving average is $46.17 and its 200-day moving average is $40.65. Omnicell has a 1-year low of $25.12 and a 1-year high of $55.74.

Insider Activity at Omnicell

In other Omnicell news, Director Mark W. Parrish sold 12,000 shares of Omnicell stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $47.30, for a total transaction of $567,600.00. Following the transaction, the director now directly owns 58,427 shares of the company's stock, valued at $2,763,597.10. The trade was a 17.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Omnicell

A number of hedge funds have recently bought and sold shares of OMCL. Victory Capital Management Inc. boosted its holdings in Omnicell by 11,982.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,148,426 shares of the company's stock worth $50,071,000 after acquiring an additional 1,138,921 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Omnicell by 1,113.6% during the 2nd quarter. Federated Hermes Inc. now owns 991,151 shares of the company's stock worth $26,830,000 after purchasing an additional 909,480 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Omnicell during the 3rd quarter worth $32,721,000. Pacer Advisors Inc. raised its stake in shares of Omnicell by 32.6% during the 2nd quarter. Pacer Advisors Inc. now owns 2,070,434 shares of the company's stock worth $56,047,000 after purchasing an additional 508,789 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Omnicell by 750.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 294,037 shares of the company's stock worth $12,820,000 after purchasing an additional 259,463 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

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.