Omnicell (NASDAQ:OMCL) Stock Price Down 2.4% – Here’s What Happened

Omnicell, Inc. (NASDAQ:OMCL) shares fell 2.4% during trading on Tuesday . The company traded as low as $43.19 and last traded at $43.43. 48,856 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 542,978 shares. The stock had previously closed at $44.50.

Analysts Set New Price Targets

A number of research firms have commented on OMCL. Wells Fargo & Company increased their price objective on shares of Omnicell from $30.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, October 14th. Barclays upped their price objective on Omnicell from $39.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Craig Hallum lifted their price target on Omnicell from $45.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Benchmark restated a “buy” rating and set a $48.00 price objective on shares of Omnicell in a research note on Wednesday, October 9th. Finally, Bank of America reaffirmed a “neutral” rating and set a $57.00 price target (up from $44.00) on shares of Omnicell in a research note 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 stock. Based on data from MarketBeat, Omnicell has a consensus rating of “Hold” and an average price target of $52.00.

Omnicell Price Performance

The stock has a market capitalization of $1.99 billion, a P/E ratio of -110.41, a PEG ratio of 34.96 and a beta of 0.78. The stock’s fifty day moving average is $45.55 and its 200-day moving average is $39.55.

Insider Buying and Selling

In other news, Director Mark W. Parrish sold 12,000 shares of the business’s stock in a transaction dated 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 owns 58,427 shares in the company, valued at approximately $2,763,597.10. The trade was a 17.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.64% of the company’s stock.

Institutional Investors Weigh In On Omnicell

A number of institutional investors have recently added to or reduced their stakes in OMCL. Nisa Investment Advisors LLC lifted its holdings in shares of Omnicell by 248.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,402 shares of the company’s stock worth $38,000 after acquiring an additional 1,000 shares during the period. GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 553 shares during the last quarter. 1620 Investment Advisors Inc. raised its position in shares of 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 position in Omnicell during the 2nd quarter valued at about $104,000. Finally, Summit Global Investments bought a new position in Omnicell in the third quarter valued at approximately $221,000. 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.