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Shares of Omnicare Have Risen Above Previous 52-Week High

Published on Mon, 01/28/2013 - 15:26
By Adrienne Chilton

Shares of Omnicare (NYSE:OCR) traded today at $39.23, breaking its 52-week high. This new high was reached on below average trading volume as 408,000 shares traded hands, while the average 30-day volume is approximately 964,000 shares.

Omnicare has overhead space with shares priced $38.89, or 3.5% below the average consensus analyst price target of $40.29. The stock should find initial support at its 50-day moving average (MA) of $36.30 and further support at its 200-day MA of $33.78.

Omnicare share prices have moved between a 52-week high of $39.23 and a 52-week low of $29.24 and are now trading 33% above that low price at $38.89 per share. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.0%.

Omnicare, Inc. provides geriatric pharmaceutical services. The Company distributes pharmaceuticals, and provides related pharmacy consulting and other ancillary services, data management services and medical supplies to skilled nursing facilities, assisted living facilities, retirement centers, independent living communities, hospitals, hospice, and other healthcare providers.

By Adrienne Chilton