Omnicell (OMCL) PT Raised to $200 at BTIG Into Q3

BTIG analyst David Larsen raised the price target on Omnicell (NASDAQ: OMCL) to $200.00 (from $175.00) while maintaining a Buy rating ahead of Q3 results.

The analyst commented, " For Omnicell, we expect continued steady momentum in the business. We like how the company dominates many of the top acute care systems in the U.S., we expect Enliven to continue to grow and take share, we expect steady visibility into the firm's 5-year outlook, and while inflation may be a slight headwind, the long-term growth outlook will offset these concerns, in our view. Vocera's backlog and deferred revenue growth of +71% y/y in 2Q:21 suggest that the revenue outlook for both 2021E and 2022E will be fine, and we believe that the Delta Variant is actually accelerating demand for this wireless communication platform. The shift towards software is also a positive."

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