Sumitomo Mitsui Trust Group Inc. Purchases New Shares in Omnicell, Inc. (NASDAQ:OMCL)

Sumitomo Mitsui Trust Group Inc. acquired a new position in Omnicell, Inc. (NASDAQ:OMCL) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 750,491 shares of the company’s stock, valued at approximately $32,721,000. Sumitomo Mitsui Trust Group Inc. owned approximately 1.63% of Omnicell at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its stake in shares of Omnicell by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 9,076 shares of the company’s stock valued at $265,000 after buying an additional 626 shares during the last quarter. Entropy Technologies LP bought a new position in Omnicell during the 1st quarter valued at $227,000. State Board of Administration of Florida Retirement System grew its holdings in Omnicell by 14.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,660 shares of the company’s stock worth $429,000 after acquiring an additional 1,830 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Omnicell by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 5,651,732 shares of the company’s stock worth $165,200,000 after purchasing an additional 80,312 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its stake in shares of Omnicell by 16.0% in the 1st quarter. Champlain Investment Partners LLC now owns 1,753,205 shares of the company’s stock valued at $51,246,000 after purchasing an additional 241,235 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on OMCL. JPMorgan Chase & Co. boosted their price objective on Omnicell from $26.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Barclays boosted their price target on Omnicell from $39.00 to $58.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. StockNews.com lowered Omnicell from a “buy” rating to a “hold” rating in a research report on Friday. Bank of America reaffirmed a “neutral” rating and issued a $57.00 price objective (up previously from $44.00) on shares of Omnicell in a report on Thursday, October 31st. Finally, Craig Hallum increased their target price on shares of Omnicell from $45.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Omnicell currently has a consensus rating of “Hold” and an average price target of $50.83.

Omnicell Stock Performance

OMCL stock opened at $45.67 on Friday. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -117.10, a PEG ratio of 46.03 and a beta of 0.81. The stock’s fifty day moving average is $44.20 and its two-hundred day moving average is $36.82. Omnicell, Inc. has a 1 year low of $25.12 and a 1 year high of $55.74.

Omnicell 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.