In a report released yesterday, Stan Berenshteyn from Wells Fargo upgraded Omnicell (OMCL – Research Report) to a Buy, with a price target of $35.00.
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Stan Berenshteyn has given his Buy rating due to a combination of factors that suggest a positive outlook for Omnicell. The survey conducted among health systems indicates a growing demand for Omnicell’s robotics and XT Extend products, despite a temporary slowdown in ADC upgrades. This suggests that 2025 may represent a low point for bookings, with expectations for improvement in subsequent years.
Furthermore, the market share for Omnicell’s dispensary cabinets remains stable, with a balanced mix of Omnicell and Pyxis systems across health systems. The demand for Omnicell’s IVX and XR2 products is also on the rise, with two-thirds of surveyed health systems planning to procure these robots. The enhancements in IVX’s capabilities are expected to provide better returns on investment, driving further demand. Additionally, Omnicell has been highlighted as a standout in terms of budget expansions among health system vendors, indicating a positive financial outlook.
According to TipRanks, Berenshteyn is an analyst with an average return of -3.7% and a 56.04% success rate. Berenshteyn covers the Healthcare sector, focusing on stocks such as Omnicell, Healthequity, and GoodRx Holdings.