Piper Jaffray Reiterates Overweight on Omnicell

Piper Jaffray is out with its report today on Omnicell OMCL, reiterating Overweight. In a note to clients, Piper Jaffray writes, "We believe companies that invest during downturns do better on the recovery, and that OMCL is set up for a strong recovery after investing heavily in new products and sales. The new products (G4, Savvy Mobile Cart) and more reps on the street improves OMCL's position in the marketplace, and we believe they will accelerate their marketshare gains as hospital capex spending recovers. Reiterate OW, $17 PT." Shares of OMCL closed Monday at $13.28, down 0.97% from Friday's close.