On Sep 22, we issued an updated research report on Omnicell Inc. (OMCL - Free Report) . The stock currently has a Zacks Rank #3 (Hold).
The market is upbeat about the company’s recently-launched XT Series Automated Supply Dispensing Cabinet. This next generation of supply solutions has features that provide additional flexibility with modular design, increased storage capacity and advanced technology.
Omnicell has also launched AcuDose software on XT hardware which allows Aesynt customers to fully benefit from XT.
Further, Omnicell’s recent partnership with CompleteRx to provide a comprehensive medication distribution and management solution to the Commonwealth of Massachusetts State Office of Pharmacy Services (SOPS) is encouraging.
Moreover, the company is expanding its footprint globally. Omnicell has established its footprint in Sweden, Germany, the U.K., Singapore, Middle East, South Africa and China. Also, the company witnessed strong business trends on Europe on healthy acceptance of its medication adherence products.
On the flip side, Omnicell faces intense competition in the medication management and supply chain solutions market. Further, the company has adopted several strategies to drive its top line including portfolio expansion, acquisitions and further penetration in the medication adherence market. Thus, the company continues to battle escalating costs. Also, stretched valuation adds to our concerns.
In the last three months, Omnicell has been trading above its industry. As per the latest share price movement, the stock has gained 11.9%, significantly above its industry’s addition of 0.4%.
A few top-ranked medical stocks are Edwards Lifesciences Corporation (EW - Free Report) , IDEXX Laboratories, Inc (IDXX - Free Report) and Amedisys, Inc. (AMED - Free Report) . Edwards Lifesciences sports a Zacks Rank #1 (Strong Buy), while IDEXX Laboratories and Amedisys carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Edwards Lifesciences has a long-term expected earnings growth rate of 15.2%. The stock has rallied roughly 15.4% over the last six months.
IDEXX Laboratories has a long-term expected earnings growth rate of 19.8%. The stock has gained around 41.9% over the last year.
Amedisys has a long-term expected earnings growth rate of 18.2%. The stock has gained around 8.7% over the last year.
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