After Benchmark Co. and Oppenheimer gave Omnicell (NASDAQ: OMCL) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Steven Halper reiterated a Buy rating on Omnicell yesterday and set a price target of $70. The company’s shares closed yesterday at $61.51.
Halper observed:
“. We reiterate our Overweight rating on OMCL shares and raise our 12-month price target to $70 from $63. After the close on Thursday, October 25, OMCL reported 3Q18 results. Revenue was essentially in line with our estimate, but non-GAAP EPS were well-above expectations. The company appears to have benefited from an improved mix, strong pricing and expense growth control. It raised its 2018 bookings guidance again and increased the low end of its adjusted EPS guidance range. The company indicates that it signed a record number of multi- million-dollar deals, and the percentage of platform deals is now 90% compared with 80% previously.”
According to TipRanks.com, Halper is a top 25 analyst with an average return of 22.2% and a 71.8% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
Omnicell has an analyst consensus of Strong Buy, with a price target consensus of $69.60, implying a 13.2% upside from current levels. In a report issued on October 22, Oppenheimer also assigned a Buy rating to the stock with a $71 price target.
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Based on Omnicell’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $6.59 million. In comparison, last year the company had a net profit of $6.23 million.
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.
