Piper Jaffray Overweight on Omnicell

Piper Jaffray is out with a research report on Omnicell, Inc.

and it has an Overweight rating and a $19 price target on shares. In a note to clients, Piper Jaffray writes, "Reported strong quarter beating consensus revenues by $2m and EPS by a penny. The company expected full year revenues to be at the higher end of the existing guidance while EPS guidance was increased to $0.57-$0.58 (from $0.51-0.56). It reiterated the existing year-end backlog guidance but noted that the timing of some larger deals in the pipeline will be critical to achieving the higher end of the guidance. Deal flow is beginning again in the small hospital market. Maintain overweight, $19 target." Shares of OMCL gained 89 cents yesterday to close at $16.82.