Omnicell price target lowered to $26 from $28 at Wells Fargo

Wells Fargo analyst Stan Berenshteyn lowered the firm’s price target on Omnicell to $26 from $28 and keeps an Equal Weight rating on the shares. Though 2024 guidance was below the firm’s Street-low estimates, it still doesn’t feel derisked, the analyst tells investors in a research note. Backlog mix and bookings guide suggest negative product revenue growth may persist into 2025, the firm says.