Omnicell downgraded to Neutral from Buy at BTIG

BTIG analyst David Larsen downgraded Omnicell to Neutral from Buy without a price target post the Q3 report. The analyst cites a “consistent lack of visibility” and the turnover of senior leadership in the past few months for the downgrade. Several large publicly traded hospital companies have reported improving volumes, and better inflation and labor trends, but Omnicell’s clients continue to delay purchases, the analyst tells investors in a research note. The firm says the company is well along the XT upgrade cycle, and it worries that the market itself is facing slowing growth.