Omnicell upgraded to "above average"

07/24/09 - Caris & Company

NEW YORK, July 24 (newratings.com) - Analysts at Caris & Company upgrade Omnicell, Inc (OMCL) from "average" to "above average." The target price has been raised from $10 to $12.

In a research note published this morning, the analysts mention that the company continues to see good sales traction from its core hospitals and has reported its 2Q09 earnings ahead of the estimates. Despite the tough hospital capital spending environment, Omnicell is expected to perform in-line with its current year guidance, the analysts add. The company is well positioned for robust growth in 2010, Caris & Company says. The EPS estimates for 2009 and 2010 have been raised from $0.31 to $0.38 and from $0.37 to $0.43, respectively.