Omnicell (OMCL) Received its Third Buy in a Row


After Benchmark Co. and Cantor Fitzgerald gave Omnicell (NASDAQ: OMCL) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Mohan Naidu reiterated a Buy rating on Omnicell yesterday and set a price target of $73. The company’s shares closed yesterday at $61.51.

Naidu observed:

“Omnicell’s multi-product platform approach is starting to gain traction in the market and is lifting the company’s numbers. Qtr numbers came in ahead of expectations at $204.3M/$0.63 vs. consensus of $203.5M/$0.56E, and the company lifted year- end bookings guidance to the 14%-18% range, which increases our confidence in product traction. There were several positive data points, with mgmt. highlighting platform deals that included multiple products in the quarter, traction with XR2 and IVX solutions, and the recently announced Patient Engagement platform. OMCL announced its first payor contract to connect patients through their 40k+ pharmacies to provide MTM, med synchronization, etc.—a new segment with strong potential. Reiterate Outperform rating. Increasing our target to $73 from $71.”

According to TipRanks.com, Naidu is a 5-star analyst with an average return of 15.6% and a 61.4% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Hms Holdings Corp, and Express Scripts.

Omnicell has an analyst consensus of Strong Buy, with a price target consensus of $71.40, representing a 16.1% upside. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $70 price target.

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The company has a one-year high of $73 and a one-year low of $39.75. Currently, Omnicell has an average volume of 378.1K.

Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock.

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Omnicell, Inc. engages in the provision of automation and business analytics software solutions for patient-centric medication and supply management. It operates through Automation and Analytics, and Medication Adherence segments.

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