Owens & Minor, Inc. (NYSE:OMI) Receives Average Recommendation of “Hold” from Brokerages

Owens & Minor, Inc. (NYSE:OMI) has been assigned an average rating of “Hold” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $12.50.

OMI has been the topic of several recent analyst reports. UBS Group cut their price objective on Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Robert W. Baird raised their price target on shares of Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Citigroup lowered their target price on Owens & Minor from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Owens & Minor from $14.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, March 10th.

Owens & Minor Stock Up 2.0 %

NYSE:OMI opened at $7.00 on Friday. The stock’s fifty day simple moving average is $8.19 and its 200-day simple moving average is $11.15. The firm has a market capitalization of $540.40 million, a P/E ratio of -10.76, a P/E/G ratio of 0.20 and a beta of 1.02. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. Owens & Minor has a 12-month low of $6.07 and a 12-month high of $25.49.

Owens & Minor (NYSE:OMI) last posted its earnings results on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.68 billion. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 EPS. Equities research analysts expect that Owens & Minor will post 1.51 earnings per share for the current year.

Owens & Minor declared that its board has authorized a stock buyback program 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 shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L bought 1,738,511 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average cost of $9.39 per share, for a total transaction of $16,324,618.29. Following the acquisition, the insider now directly owns 9,469,698 shares in the company, valued at approximately $88,920,464.22. This trade represents a 22.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have acquired 2,718,412 shares of company stock valued at $24,495,308. 3.69% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Owens & Minor

Hedge funds have recently bought and sold shares of the company. Waldron Private Wealth LLC bought a new stake in Owens & Minor during the fourth quarter worth $406,000. JPMorgan Chase & Co. raised its stake in shares of Owens & Minor by 68.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 376,830 shares of the company’s stock worth $5,912,000 after purchasing an additional 152,999 shares during the period. Advisors Preferred LLC boosted its holdings in shares of Owens & Minor by 173.9% in the 4th quarter. Advisors Preferred LLC now owns 84,305 shares of the company’s stock worth $1,083,000 after buying an additional 53,529 shares during the last quarter. Barclays PLC grew its position in Owens & Minor by 354.8% during the third quarter. Barclays PLC now owns 133,702 shares of the company’s stock valued at $2,099,000 after buying an additional 104,305 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Owens & Minor by 6.0% during the fourth quarter. Bank of New York Mellon Corp now owns 622,921 shares of the company’s stock worth $8,142,000 after buying an additional 35,105 shares during the last quarter. 98.04% of the stock is owned by hedge funds and other institutional investors.

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.