Owens & Minor (NYSE:OMI) Given New $16.00 Price Target at Bank of America

Owens & Minor (NYSE:OMI) had its price objective dropped by Bank of America from $18.00 to $16.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Bank of America‘s target price indicates a potential upside of 9.81% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. StockNews.com downgraded Owens & Minor from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. TheStreet raised shares of Owens & Minor from a “d+” rating to a “c-” rating in a report on Monday, March 4th. Citigroup increased their price target on shares of Owens & Minor from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, April 30th. SVB Leerink assumed coverage on shares of Owens & Minor in a research report on Monday, February 26th. They set a “market perform” rating and a $24.00 price objective for the company. Finally, Robert W. Baird decreased their target price on Owens & Minor from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.88.

Owens & Minor Stock Performance

Shares of OMI stock opened at $14.57 on Tuesday. The company has a fifty day moving average price of $19.14 and a two-hundred day moving average price of $21.35. Owens & Minor has a one year low of $13.36 and a one year high of $28.35. The stock has a market cap of $1.11 billion, a P/E ratio of -28.57, a P/E/G ratio of 0.50 and a beta of 0.33. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.16 and a quick ratio of 0.56.

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

Insider Buying and Selling at Owens & Minor

In related news, SVP Jonathan A. Leon sold 5,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $24.84, for a total transaction of $124,200.00. Following the completion of the sale, the senior vice president now directly owns 84,673 shares in the company, valued at approximately $2,103,277.32. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Jonathan A. Leon sold 5,000 shares of Owens & Minor stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $24.84, for a total transaction of $124,200.00. Following the sale, the senior vice president now directly owns 84,673 shares in the company, valued at approximately $2,103,277.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark A. Beck sold 9,344 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $17.25, for a total transaction of $161,184.00. Following the sale, the director now directly owns 11,154 shares in the company, valued at $192,406.50. The disclosure for this sale can be found here. Insiders have sold a total of 36,923 shares of company stock valued at $686,911 in the last ninety days. 3.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Owens & Minor

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in Owens & Minor by 52.1% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the company’s stock valued at $46,000 after acquiring an additional 563 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Owens & Minor by 0.3% in the 3rd quarter. Rhumbline Advisers now owns 247,846 shares of the company’s stock valued at $4,005,000 after purchasing an additional 660 shares during the last quarter. Quarry LP increased its position in shares of Owens & Minor by 38.8% during the fourth quarter. Quarry LP now owns 2,573 shares of the company’s stock worth $50,000 after buying an additional 719 shares during the period. Riverview Trust Co bought a new position in Owens & Minor during the first quarter worth $25,000. Finally, ProShare Advisors LLC lifted its holdings in Owens & Minor by 7.4% in the first quarter. ProShare Advisors LLC now owns 15,021 shares of the company’s stock valued at $416,000 after buying an additional 1,029 shares during the period. Institutional investors and hedge funds own 98.04% of the company’s stock.

Owens & Minor Company Profile

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.