Omnicell (NASDAQ:OMCL) Trading Down 3.7% – Here’s What Happened

Shares of Omnicell, Inc. (NASDAQ:OMCL) traded down 3.7% during mid-day trading on Friday . The stock traded as low as $46.28 and last traded at $46.65. 333,258 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 538,703 shares. The stock had previously closed at $48.46.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on OMCL shares. Wells Fargo & Company upped their price objective on Omnicell from $30.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. StockNews.com lowered Omnicell from a “buy” rating to a “hold” rating in a research report on Wednesday. Barclays upped their price target on Omnicell from $39.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on Omnicell from $37.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Finally, Craig Hallum raised their price objective on shares of Omnicell from $45.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Five investment 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 presently has a consensus rating of “Hold” and an average price target of $52.00.

Omnicell Price Performance

The firm’s 50-day simple moving average is $44.51 and its two-hundred day simple moving average is $37.83.

Hedge Funds Weigh In On Omnicell

A number of hedge funds have recently bought and sold shares of OMCL. GAMMA Investing LLC raised its holdings in Omnicell by 78.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,258 shares of the company’s stock worth $55,000 after purchasing an additional 553 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Omnicell by 248.8% during the second quarter. Nisa Investment Advisors LLC now owns 1,402 shares of the company’s stock valued at $38,000 after buying an additional 1,000 shares during the period. 1620 Investment Advisors Inc. increased its position in shares of Omnicell by 230.1% in the third quarter. 1620 Investment Advisors Inc. now owns 2,212 shares of the company’s stock worth $96,000 after purchasing an additional 1,542 shares during the last quarter. CWM LLC boosted its stake in Omnicell by 68.2% in the second quarter. CWM LLC now owns 3,048 shares of the company’s stock worth $83,000 after buying an additional 1,236 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Omnicell in the second quarter worth approximately $104,000. 97.70% of the stock is owned by institutional investors.

About Omnicell

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.