Wells Fargo Starts Omnicell (OMCL) at Market Perform

December 19, 2012 6:51 AM EST Send to a Friend
Get Alerts OMCL Hot Sheet
Price: $32.99 +0.30%

Rating Summary:
    7 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 19 | New: 16
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Wells Fargo initiates coverage on Omnicell (NASDAQ: OMCL) with a Market Perform and $18-$20 valuation target.

The firm comments, "The company has an estimated 25% share of the market for selling medication dispensing cabinets and related software to hospitals in the United States. More recently, it has expanded into equipment and consumables that institutional pharmacies use to package medications that are dispensed in long term care facilities. While we project organic top line growth around 10% and believe management may be downplaying the accretion from the recent acquisition of MTS, these shares have bounced significantly off of recent lows and the company is exposed to hospital capital spending that could be impacted in the event that the economy falls off the fiscal cliff. We prefer to wait for a better buying opportunity or more certainty around economic conditions."

For an analyst ratings summary and ratings history on Omnicell click here. For more ratings news on Omnicell click here.

Shares of Omnicell closed at $15.82 yesterday.

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