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Omnicell affirmed as buy by Opco after results beat views

July 28, 2017

Oppenheimer analyst Mohan Naidu reiterated a Buy rating on Omnicell (NASDAQ: OMCL) today and set a price target of $53. The company’s shares closed yesterday at $42.78, close to its 52-week high of $44.60.

Naidu wrote:

“Omnicell reported a nice 2Q17 beat at $181M/$0.38 vs. $174M/$0.23E as XT roll- out issues appear to have subsided. XT shipments and go-lives nearly doubled and more than tripled, respectively, vs. late April. The company reaffirmed CY17 guidance, introduced 3Q guide slightly behind us/consensus, and implied that some of 2Q’s rev strength came from 3Q, but bracketed us/consensus on EPS. Deal flow remained strong in 2Q with XT in particular highlighted. We continue to believe that XT’s attractive features will enable OMCL to gain additional competitive share and see its solutions resonating with hospitals more focused on productivity-enhancing solutions.”


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