Auriga Reiterates a 'Buy' on Omnicell (OMCL); Modest Q2 Beat: Raising Target
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Price: $27.25 --0%
Rating Summary:
9 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 9 | Down: 16 | New: 16
Rating Summary:
9 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 9 | Down: 16 | New: 16
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Auriga reiterates a 'Buy' on Omnicell (NASDAQ: OMCL), raises price target to $19.
Auriga analyst says, "We are reiterating our rating on Omnicell following solid Q2 results in which EPS and revenue exceeded expectations. OMCL is on track to achieve the high end of its guidance, as strong order volume from the second half of 2010 was recognized. Additionally, a major upgrade opportunity through its June launch of G4 (a computer console upgrade with many ergonomic, security features and enhanced functionality) should drive order growth in the second half. Management reiterated backlog guidance of $138-$144 million, as a mix of large contracts could skew the outcome as a function of when the deals close. Our new $19 target is based on a 21x multiple to our upwardly revised estimates, and considers OMCL's cash of $5.35/share."
For more ratings news on Omnicell click here and for the rating history of Omnicell click here.
Shares of Omnicell closed at $16.00 yesterday.
Auriga analyst says, "We are reiterating our rating on Omnicell following solid Q2 results in which EPS and revenue exceeded expectations. OMCL is on track to achieve the high end of its guidance, as strong order volume from the second half of 2010 was recognized. Additionally, a major upgrade opportunity through its June launch of G4 (a computer console upgrade with many ergonomic, security features and enhanced functionality) should drive order growth in the second half. Management reiterated backlog guidance of $138-$144 million, as a mix of large contracts could skew the outcome as a function of when the deals close. Our new $19 target is based on a 21x multiple to our upwardly revised estimates, and considers OMCL's cash of $5.35/share."
For more ratings news on Omnicell click here and for the rating history of Omnicell click here.
Shares of Omnicell closed at $16.00 yesterday.
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