JPMorgan Chase & Co. Boosts Omnicell (NASDAQ:OMCL) Price Target to $44.00

Omnicell (NASDAQ:OMCL) had its price objective upped by analysts at JPMorgan Chase & Co. from $37.00 to $44.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 3.36% from the stock’s current price.

Several other analysts also recently commented on the stock. Benchmark reissued a “buy” rating and set a $48.00 price target on shares of Omnicell in a research report on Wednesday, October 9th. Barclays lifted their target price 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. Craig Hallum upped their target price on Omnicell from $45.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com cut Omnicell from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Bank of America restated a “neutral” rating and issued a $57.00 price objective (up previously from $44.00) on shares of Omnicell in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Omnicell currently has a consensus rating of “Hold” and an average price target of $52.00.

Omnicell Stock Performance

Shares of Omnicell stock traded up $0.75 during trading hours on Thursday, reaching $42.57. The company’s stock had a trading volume of 72,236 shares, compared to its average volume of 533,205. The company has a market capitalization of $1.97 billion, a P/E ratio of -109.69, a P/E/G ratio of 35.67 and a beta of 0.81. The stock’s fifty day simple moving average is $44.19 and its two-hundred day simple moving average is $37.20. Omnicell has a one year low of $25.12 and a one year high of $55.74.

Hedge Funds Weigh In On Omnicell

Several institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its stake in shares of Omnicell by 11,982.3% in the third quarter. Victory Capital Management Inc. now owns 1,148,426 shares of the company’s stock worth $50,071,000 after buying an additional 1,138,921 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Omnicell by 1,113.6% in 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Omnicell during the third quarter valued at $32,721,000. Pacer Advisors Inc. lifted its holdings in shares of Omnicell by 32.6% during the second quarter. Pacer Advisors Inc. now owns 2,070,434 shares of the company’s stock valued at $56,047,000 after purchasing an additional 508,789 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Omnicell by 750.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 294,037 shares of the company’s stock valued at $12,820,000 after buying an additional 259,463 shares during the last quarter. 97.70% of the stock is currently owned by 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.