Owens & Minor (NYSE:OMI) Trading Down 6.3% – Here’s What Happened

Owens & Minor, Inc. (NYSE:OMI) fell 6.3% during trading on Monday . The stock traded as low as $13.75 and last traded at $13.75. 226,284 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 833,842 shares. The stock had previously closed at $14.68.

Analyst Ratings Changes

A number of research analysts have weighed in on OMI shares. StockNews.com downgraded shares of Owens & Minor from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Citigroup raised shares of Owens & Minor from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $24.00 to $19.00 in a research report on Friday, July 19th. Barclays cut their price objective on 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. JPMorgan Chase & Co. reduced their price objective on Owens & Minor from $22.00 to $18.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 21st. Finally, Robert W. Baird lowered their target price on Owens & Minor from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Owens & Minor presently has an average rating of “Hold” and a consensus target price of $20.00.

Owens & Minor Trading Down 0.6 %

The company has a current ratio of 1.09, a quick ratio of 0.51 and a debt-to-equity ratio of 2.17. The business has a 50 day simple moving average of $15.41 and a two-hundred day simple moving average of $17.92. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -26.43, a price-to-earnings-growth ratio of 0.49 and a beta of 0.39.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts anticipate that Owens & Minor, Inc. will post 1.57 EPS for the current year.

Hedge Funds Weigh In On Owens & Minor

Large investors have recently modified their holdings of the stock. Riverview Trust Co acquired a new stake in Owens & Minor during the first quarter valued at approximately $25,000. Hexagon Capital Partners LLC increased its holdings in shares of Owens & Minor by 1,240.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,568 shares of the company’s stock valued at $43,000 after acquiring an additional 1,451 shares during the last quarter. GAMMA Investing LLC raised its position in shares of 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 acquiring an additional 563 shares in the last quarter. Quarry LP lifted its stake in Owens & Minor by 290.1% during the second quarter. Quarry LP now owns 2,099 shares of the company’s stock worth $28,000 after purchasing an additional 1,561 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Owens & Minor by 43,142.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,027 shares of the company’s stock worth $84,000 after purchasing an additional 3,020 shares during the period. Institutional investors 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.