Auriga Reiterates a 'Buy' on Omnicell (OMCL), Raises Price Target & Estimates
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Auriga reiterates a Buy rating on Omnicell (Nasdaq: OMCL), price target increased from $11 to $12.
Auriga analyst says, "We recently met with the Director of Pharmacy at Community Hospital of San Bernardino, an Omnicell customer and member of the Catholic Healthcare West (CHW – private) hospital system. Our site visit confirmed that Omnicell products are delivering value to the CHW chain and, although budgets are frozen for the foreseeable future, projects that were approved prior to November are moving forward. Despite continuing difficulties at a macro level with respect to hospital spending, we continue to be attracted to OMCL’s niche focus on technology that improves medication safety. We are increasing our FY10 revenue and EPS estimates slightly by $1 million and $0.01, respectively as a result of continuing hospital rollouts at CHW and recent wins at Duke University Medical Center & Emory Healthcare."
Omnicell, Inc. is a provider of medication control and patient safety solutions for acute care health facilities.
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