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Oppenheimer Reaffirms Their Buy Rating on Omnicell (OMCL)


Oppenheimer analyst Mohan Naidu maintained a Buy rating on Omnicell (OMCL) today and set a price target of $86. The company’s shares closed yesterday at $70.59.

Naidu noted:

“Review of OMCL’s products and the discussion with management drives our conviction on the company’s evolution into a multi-product platform company. XT continues to gain traction with greater visibility into implementations, but we’re starting to get excited about the newer products gaining momentum. XR2 is on track for deployments and Performance Center, which can save a meaningful 2-3% of annual Rx spend, is likely to gain more customers and drive revenue growth for OMCL. With Sales reorg in MedAdherence to bring it under the umbrella likely to drive more traction in the segment, we’re particularly excited about the company’s Patient Engagement solutions connecting pharmacies and the VBM product line. Reiterate Outperform, increasing our target to $86.”

According to TipRanks.com, Naidu is a 5-star analyst with an average return of 14.2% and a 60.1% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Hms Holdings Corp, and Express Scripts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Omnicell with a $74.20 average price target, which is a 5.1% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $80 price target.

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The company has a one-year high of $79.48 and a one-year low of $39.75. Currently, Omnicell has an average volume of 381K.

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.