Owens & Minor (NYSE:OMI) Trading 3.8% Higher Following Analyst Upgrade

Owens & Minor, Inc. (NYSE:OMI)’s stock price shot up 3.8% during trading on Tuesday after Robert W. Baird raised their price target on the stock from $10.00 to $11.00. Robert W. Baird currently has a neutral rating on the stock. Owens & Minor traded as high as $9.63 and last traded at $9.68. 433,222 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 1,623,577 shares. The stock had previously closed at $9.32.

Other analysts have also issued research reports about the stock. Barclays lowered their price objective on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Citigroup dropped their price objective on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, UBS Group reduced their target price on Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $15.08.

Institutional Trading of Owens & Minor

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC grew its stake in Owens & Minor by 0.8% in the 3rd quarter. FMR LLC now owns 11,564,624 shares of the company’s stock valued at $181,449,000 after purchasing an additional 90,862 shares during the period. Vanguard Group Inc. boosted its stake in Owens & Minor by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,915,756 shares of the company’s stock valued at $116,529,000 after acquiring an additional 107,092 shares during the last quarter. Coliseum Capital Management LLC grew its position in shares of Owens & Minor by 31.3% during the 4th quarter. Coliseum Capital Management LLC now owns 4,785,964 shares of the company’s stock valued at $62,553,000 after acquiring an additional 1,141,483 shares during the period. State Street Corp increased its stake in shares of Owens & Minor by 2.6% during the 3rd quarter. State Street Corp now owns 3,064,547 shares of the company’s stock worth $48,083,000 after purchasing an additional 78,985 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Owens & Minor by 13.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company’s stock worth $30,127,000 after purchasing an additional 276,807 shares during the last quarter. 98.04% of the stock is owned by hedge funds and other institutional investors.

Owens & Minor Price Performance

The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11. The business’s fifty day moving average is $11.44 and its 200 day moving average is $13.18. The company has a market cap of $747.57 million, a P/E ratio of -14.81, a PEG ratio of 0.20 and a beta of 0.48.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings results on Friday, February 28th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Owens & Minor declared that its board has authorized a share repurchase plan on Friday, February 28th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 13.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

About Owens & Minor

Owens & Minor, Inc is a healthcare solutions company, which engages in the product manufacturing and delivery, home health supply, and perioperative services to support care through the hospital and into the home. It operates through the Products and Healthcare Services, and Patient Direct segments.