Omnicell price target lowered to $38 from $46 at BofA

BofA lowered the firm’s price target on Omnicell (OMCL) to $38 from $46 and keeps a Neutral rating on the shares after the company announced a CFO transition and reiterated its Q1 and FY25 guidance. The firm views the reaffirmed guidance as a positive, and notes that its FY25 estimates are unchanged, but reduced the multiple to reflect incremental execution risk given the management transition and to reflect peer group multiple compression.