Piper Jaffray Maintains Overweight Rating And PT At $17 On Omnicell (OMCL)

Piper Jaffray maintained its Overweight rating on Omnicell OMCL in a research report published today. It also left its price target unchanged at $17. In the report, Piper Jaffray states, "The company reported a penny upside on EPS and in-line revenues by continued expansion in gross margins of both product and service segments, and launched multiple products to increase their competitive advantage. With 41% of the orders coming from new customers and half of them from competitive replacements, we believe the company is gaining market share at a healthy rate. With multiple opportunities for revenue and earnings growth, we like the stock at this valuation. Maintain Overweight, $17 target." In yesterday's trading, Omnicell's shares were up 1.5% to close the day at $15.61. In today's pre-market trading, its shares traded at $15.80, up 1.22% on Monday's closing value.