Omnicell (NASDAQ:OMCL) Shares Down 2.4% – Here’s Why

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

Analyst Upgrades and Downgrades

OMCL has been the subject of a number of recent research reports. Bank of America restated a “neutral” rating and set a $57.00 price objective (up from $44.00) on shares of Omnicell in a research note on Thursday, October 31st. 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 report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on shares of Omnicell from $30.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. StockNews.com cut shares of Omnicell from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Benchmark reaffirmed a “buy” rating and set a $48.00 price target on shares of Omnicell in a report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.00.

Omnicell Stock Performance

The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -110.77, a PEG ratio of 34.96 and a beta of 0.78. The company’s 50 day simple moving average is $45.60 and its 200 day simple moving average is $39.75.

Insider Activity at Omnicell

In other news, Director Mark W. Parrish sold 12,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $47.30, for a total value of $567,600.00. Following the completion of the sale, the director now owns 58,427 shares in the company, valued at $2,763,597.10. This represents a 17.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.64% of the company’s stock.

Institutional Investors Weigh In On Omnicell

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in shares of Omnicell by 78.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,258 shares of the company’s stock valued at $55,000 after purchasing an additional 553 shares in the last quarter. 1620 Investment Advisors Inc. lifted its stake in Omnicell by 230.1% during the third quarter. 1620 Investment Advisors Inc. now owns 2,212 shares of the company’s stock valued at $96,000 after purchasing an additional 1,542 shares during the last quarter. Headlands Technologies LLC bought a new stake in Omnicell during the second quarter worth approximately $104,000. Summit Global Investments bought a new stake in Omnicell during the third quarter worth approximately $221,000. Finally, QRG Capital Management Inc. acquired a new position in Omnicell in the third quarter worth approximately $231,000. 97.70% of the stock is currently owned by institutional investors.

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.