Wells Fargo & Company Issues Pessimistic Forecast for Omnicell (NASDAQ:OMCL) Stock Price

Omnicell (NASDAQ:OMCL - Free Report) had its price target trimmed by Wells Fargo & Company from $49.00 to $40.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities analysts also recently weighed in on OMCL. StockNews.com downgraded Omnicell from a "buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Barclays lifted their price objective on Omnicell from $39.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 31st. Bank of America reduced their target price on shares of Omnicell from $54.00 to $46.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Benchmark reissued a "buy" rating and issued a $48.00 price objective on shares of Omnicell in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their target price 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $50.00.

Omnicell Price Performance

OMCL traded up $0.04 during midday trading on Monday, reaching $42.32. 289,112 shares of the company's stock were exchanged, compared to its average volume of 376,445. The business's 50-day moving average price is $45.76 and its 200 day moving average price is $41.33. Omnicell has a 1-year low of $25.12 and a 1-year high of $55.74. The stock has a market capitalization of $1.96 billion, a PE ratio of -108.51, a P/E/G ratio of 34.96 and a beta of 0.78.

Insider Activity at Omnicell

In other Omnicell news, Director Mark W. Parrish sold 12,000 shares of the business's 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 sale, the director now owns 58,427 shares of the company's stock, valued at approximately $2,763,597.10. The trade was a 17.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Omnicell

Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers lifted its position in Omnicell by 3.0% during the second quarter. Rhumbline Advisers now owns 147,188 shares of the company's stock valued at $3,984,000 after buying an additional 4,281 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Omnicell by 2.9% during the 2nd quarter. Arizona State Retirement System now owns 12,853 shares of the company's stock valued at $348,000 after acquiring an additional 357 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Omnicell during the 2nd quarter worth $104,000. Federated Hermes Inc. increased its holdings in Omnicell by 1,113.6% in the 2nd quarter. Federated Hermes Inc. now owns 991,151 shares of the company's stock valued at $26,830,000 after purchasing an additional 909,480 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Omnicell by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,180,503 shares of the company's stock valued at $31,955,000 after purchasing an additional 3,570 shares during the period. 97.70% of the stock is 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.