Omnicell price target raised to $50 from $45 at Benchmark

Benchmark raised the firm’s price target on Omnicell (OMCL) to $50 from $45 and keeps a Buy rating on the shares after the company unveiled Titan XT, an enterprise version of its XT automated dispensing system that integrates with OmniSphere, the company’s new cloud-based, HITRUST-certified medication management platform. The firm thinks the market is responding well to Omnicell’s approach of providing options like XTExtend, rather than only offering a next generation connected cabinet, says the analyst, who contends that the market is “moving to a major adoption curve of connected devices and will lift all boats.”