Owens & Minor (NYSE:OMI) Sets New 12-Month Low After Analyst Downgrade

Owens & Minor, Inc. (NYSE:OMI)’s share price hit a new 52-week low during mid-day trading on Tuesday after Robert W. Baird lowered their price target on the stock from $24.00 to $20.00. Robert W. Baird currently has a neutral rating on the stock. Owens & Minor traded as low as $13.36 and last traded at $14.15, with a volume of 198081 shares changing hands. The stock had previously closed at $16.17.

A number of other brokerages have also recently issued reports on OMI. StockNews.com cut Owens & Minor from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Citigroup boosted their price objective on Owens & Minor from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. SVB Leerink assumed coverage on shares of Owens & Minor in a research report on Monday, February 26th. They issued a “market perform” rating and a $24.00 price target on the stock. Leerink Partnrs reaffirmed a “market perform” rating on shares of Owens & Minor in a research report on Monday, February 26th. Finally, TheStreet upgraded shares of Owens & Minor from a “d+” rating to a “c-” rating in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.71.

Insiders Place Their Bets

In other news, EVP Heath H. Galloway sold 2,031 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $20.18, for a total value of $40,985.58. Following the completion of the sale, the executive vice president now directly owns 56,898 shares of the company’s stock, valued at approximately $1,148,201.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Heath H. Galloway sold 2,031 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $20.18, for a total transaction of $40,985.58. Following the completion of the sale, the executive vice president now directly owns 56,898 shares of the company’s stock, valued at approximately $1,148,201.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alexander J. Bruni sold 10,568 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $17.76, for a total value of $187,687.68. Following the sale, the chief financial officer now directly owns 49,950 shares of the company’s stock, valued at $887,112. The disclosure for this sale can be found here. In the last three months, insiders sold 36,923 shares of company stock valued at $686,911. 2.62% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Owens & Minor

A number of large investors have recently bought and sold shares of OMI. Riverview Trust Co acquired a new stake in shares of Owens & Minor in the 1st quarter valued at approximately $25,000. Hexagon Capital Partners LLC lifted its holdings in Owens & Minor by 1,240.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,568 shares of the company’s stock valued at $43,000 after purchasing an additional 1,451 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Owens & Minor by 52.1% during the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the company’s stock valued at $46,000 after purchasing an additional 563 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Owens & Minor during the 3rd quarter valued at $29,000. Finally, Quest Partners LLC acquired a new stake in Owens & Minor during the 4th quarter valued at $41,000. Institutional investors and hedge funds own 98.04% of the company’s stock.

Owens & Minor Stock Down 8.8 %

The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.56 and a current ratio of 1.16. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -28.92, a P/E/G ratio of 0.55 and a beta of 0.33. The firm has a fifty day simple moving average of $19.52 and a 200-day simple moving average of $21.44.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Owens & Minor had a positive return on equity of 12.97% and a negative net margin of 0.37%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 EPS. As a group, sell-side analysts expect that Owens & Minor, Inc. will post 1.53 EPS for the current year.

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.