Auriga Reiterates a 'Buy' on Omnicell (OMCL); Raises Price Target

Auriga reiterates a 'Buy' on Omnicell (NASDAQ: OMCL), raises PT by $1 to $18.

Auriga analyst says, "EPS was impacted by a litigation settlement which, when added back to non-GAAP income, led to a $0.01 beat. The highlight of the quarter was a new product launch, G4, which unifies the many medication management products in OMCL's arsenal on a single database. We would like to see a resumption of growth in product revenue (it has been virtually flat for six quarters), while the growth in services revenue (and margin) has been impressive. We believe Omnicell occupies a unique niche in medication management, and a formidable #2 behind industry leader Carefusion (NYSE: CFN)(NR). Our new target reflects 15% upside from current levels. "

For more ratings news on Omnicell click here and for the rating history of Omnicell click here.

Shares of Omnicell closed at $15.61 yesterday.

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