Owens & Minor (NYSE:OMI – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.
Other research analysts also recently issued reports about the stock. Barclays dropped their target price on shares of Owens & Minor from $23.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Bank of America decreased their price objective on shares of Owens & Minor from $18.00 to $16.00 and set an “underperform” rating on the stock in a research report on Tuesday, June 25th. JPMorgan Chase & Co. dropped their price objective on Owens & Minor from $22.00 to $18.00 and set an “underweight” rating for the company in a research report on Wednesday, August 21st. Robert W. Baird lowered their price objective on Owens & Minor from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Finally, Citigroup raised shares of Owens & Minor from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $24.00 to $19.00 in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.00.
Owens & Minor Stock Performance
OMI stock traded down $0.23 during trading on Monday, hitting $16.14. 434,565 shares of the company traded hands, compared to its average volume of 801,199. Owens & Minor has a 1 year low of $12.36 and a 1 year high of $28.35. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.09 and a quick ratio of 0.51. The stock’s 50-day simple moving average is $15.08 and its 200 day simple moving average is $19.82. The company has a market cap of $1.23 billion, a PE ratio of -31.64, a P/E/G ratio of 0.50 and a beta of 0.25.
Owens & Minor (NYSE:OMI – Get Free Report) last announced its earnings results on Friday, August 2nd. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. Owens & Minor had a negative net margin of 0.40% and a positive return on equity of 14.66%. The company had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the company posted $0.18 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities analysts expect that Owens & Minor will post 1.57 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, Director Mark A. Beck sold 9,344 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $17.25, for a total value of $161,184.00. Following the transaction, the director now directly owns 11,154 shares in the company, valued at $192,406.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Owens & Minor news, Director Mark A. Beck sold 9,344 shares of Owens & Minor stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $17.25, for a total value of $161,184.00. Following the sale, the director now directly owns 11,154 shares in the company, valued at approximately $192,406.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alexander J. Bruni sold 10,568 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $17.76, for a total value of $187,687.68. Following the completion of the sale, the chief financial officer now directly owns 49,950 shares of the company’s stock, valued at approximately $887,112. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,892 shares of company stock valued at $521,725. Insiders own 3.59% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Illinois Municipal Retirement Fund bought a new position in Owens & Minor in the 4th quarter valued at approximately $785,000. Russell Investments Group Ltd. lifted its holdings in Owens & Minor by 1.8% during the 4th quarter. Russell Investments Group Ltd. now owns 185,117 shares of the company’s stock worth $3,568,000 after buying an additional 3,258 shares during the period. Silver Oak Securities Incorporated acquired a new stake in shares of Owens & Minor in the fourth quarter valued at about $214,000. Charles Schwab Investment Management Inc. increased its stake in shares of Owens & Minor by 4.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 825,142 shares of the company’s stock valued at $15,900,000 after buying an additional 38,393 shares during the period. Finally, Teacher Retirement System of Texas raised its position in shares of Owens & Minor by 73.9% during the fourth quarter. Teacher Retirement System of Texas now owns 23,422 shares of the company’s stock worth $451,000 after acquiring an additional 9,950 shares during the last quarter. Institutional investors own 98.04% of the company’s stock.
About Owens & Minor
Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.