Omnicell (NASDAQ:OMCL) Trading Down 3.7% – Should You Sell?

Omnicell, Inc. (NASDAQ:OMCL)’s stock price dropped 3.7% on Friday . The stock traded as low as $46.28 and last traded at $46.65. Approximately 333,258 shares were traded during trading, a decline of 38% from the average daily volume of 538,703 shares. The stock had previously closed at $48.46.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on Omnicell from $37.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Bank of America reissued a “neutral” rating and set a $57.00 price target (up from $44.00) on shares of Omnicell in a report on Thursday, October 31st. Wells Fargo & Company increased their target price on Omnicell from $30.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Craig Hallum increased their price target on Omnicell from $45.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Benchmark reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Omnicell in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $52.00.

Omnicell Stock Down 3.9 %

The company has a 50 day moving average of $44.51 and a two-hundred day moving average of $37.83.

Institutional Investors Weigh In On Omnicell

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Omnicell by 1.4% during the first quarter. Vanguard Group Inc. now owns 5,651,732 shares of the company’s stock worth $165,200,000 after buying an additional 80,312 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Omnicell by 5.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 52,262 shares of the company’s stock worth $1,527,000 after purchasing an additional 2,701 shares in the last quarter. CWM LLC increased its position in shares of Omnicell by 68.2% during the second quarter. CWM LLC now owns 3,048 shares of the company’s stock worth $83,000 after purchasing an additional 1,236 shares in the last quarter. Diversified Trust Co increased its position in Omnicell by 3.3% in the 2nd quarter. Diversified Trust Co now owns 15,364 shares of the company’s stock valued at $416,000 after acquiring an additional 494 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Omnicell by 61.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 599,928 shares of the company’s stock valued at $16,240,000 after acquiring an additional 228,093 shares during the period. Institutional investors and hedge funds own 97.70% of the company’s stock.

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.