Sumitomo Mitsui Trust Group Inc. Buys New Stake in Omnicell, Inc. (NASDAQ:OMCL)

Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Omnicell, Inc. (NASDAQ:OMCL - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 750,491 shares of the company's stock, valued at approximately $32,721,000. Sumitomo Mitsui Trust Group Inc. owned about 1.63% of Omnicell at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in Omnicell by 248.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,402 shares of the company's stock valued at $38,000 after buying an additional 1,000 shares during the period. GAMMA Investing LLC increased its position in Omnicell by 78.4% during 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 during the last quarter. EntryPoint Capital LLC raised its stake in shares of Omnicell by 121.2% in the first quarter. EntryPoint Capital LLC now owns 2,455 shares of the company's stock valued at $72,000 after acquiring an additional 1,345 shares during the period. CWM LLC lifted its holdings in shares of Omnicell by 68.2% in the 2nd quarter. CWM LLC now owns 3,048 shares of the company's stock worth $83,000 after acquiring an additional 1,236 shares during the last quarter. Finally, 1620 Investment Advisors Inc. lifted its holdings in shares of Omnicell by 230.1% in the 3rd 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. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Omnicell Trading Down 2.0 %

Shares of Omnicell stock opened at $45.67 on Friday. The stock's fifty day moving average price is $44.20 and its 200-day moving average price is $36.89. The firm has a market cap of $2.12 billion, a P/E ratio of -117.10, a P/E/G ratio of 43.97 and a beta of 0.81. Omnicell, Inc. has a 12 month low of $25.12 and a 12 month high of $55.74.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Omnicell from $39.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 31st. StockNews.com downgraded Omnicell from a "buy" rating to a "hold" rating in a report on Friday. JPMorgan Chase & Co. raised their price target on Omnicell from $26.00 to $37.00 and gave the stock a "neutral" rating in a research note on Friday, August 23rd. Craig Hallum upped their price objective on Omnicell from $45.00 to $64.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, Bank of America reiterated a "neutral" rating and set a $57.00 target price (up from $44.00) on shares of Omnicell in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Omnicell presently has a consensus rating of "Hold" and a consensus target price of $50.83.

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.