Cantor Fitzgerald Believes Omnicell (OMCL) Won’t Stop Here


In a report released today, Steven Halper from Cantor Fitzgerald reiterated a Buy rating on Omnicell (OMCL), with a price target of $91. The company’s shares opened today at $81.99, close to its 52-week high of $86.87.

Halper wrote:

“. We reiterate our Overweight rating on OMCL shares and increase our price target to $91 from $80. We recently hosted a small group of investors at the company’s Executive Briefing Center, outside of Pittsburgh, PA. The center is used as a critical part of the company’s sales process as the company can demonstrate many of the different capabilities that make up its Autonomous Pharmacy concept. The company has a very high conversion rate when potential customers visit. In addition to benefiting from add on sales to existing customers, the company continues to gain market share from its primary competitor (about 200 bps of market share annually). We believe that Omnicell’s broad range of differentiated products should allow for continued market share growth.”

According to TipRanks.com, Halper is a 5-star analyst with an average return of 16.5% and a 58.8% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Omnicell with a $78.67 average price target.

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Based on Omnicell’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $14.79 million. In comparison, last year the company had a net profit of $24.29 million.

Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is negative on the stock.

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Omnicell, Inc. engages in the provision of medication and supply dispensing automation, central pharmacy automation, analytics software, and medication adherence solutions. It operates through Automation & Analytics and Medication Adherence segments.