BofA analyst Allen Lutz lowered the firm’s price target on Omnicell to $61 from $75 and keeps a Buy rating on the shares. The firm is applying a lower multiple to reflect a reduction in peer multiples, but continues to view Omnicell as “a multi-year growth story with products well positioned in the duopoly market for pharmacy automation,” the analyst tells investors.
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Read More on OMCL:
- KeyBanc downgrades Omnicell on challenged hospital spending
- Omnicell downgraded to Sector Weight from Overweight at KeyBanc
- Omnicell price target lowered to $70 from $88 at Benchmark
- Omnicell price target lowered to $39 from $56 at Wells Fargo
- S&P announces changes to S&P 400, 600 indices at open on 9/18
