Owens & Minor (NYSE:OMI) Stock Price Up 4.4% – Here’s What Happened

Owens & Minor, Inc. (NYSE:OMI)’s share price traded up 4.4% during trading on Tuesday . The stock traded as high as $13.26 and last traded at $13.22. 236,128 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 800,605 shares. The stock had previously closed at $12.66.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group dropped their price target on Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Barclays dropped their target price on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Citigroup decreased their price target on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Robert W. Baird lowered their price target on shares of Owens & Minor from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.50.

Owens & Minor Trading Up 0.2 %

The firm’s fifty day simple moving average is $13.12 and its 200 day simple moving average is $14.33. The stock has a market capitalization of $1.01 billion, a P/E ratio of -20.14, a price-to-earnings-growth ratio of 0.48 and a beta of 0.42. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.45 and a current ratio of 1.09.

Owens & Minor (NYSE:OMI) last issued its earnings results on Monday, November 4th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter last year, the business posted $0.44 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts forecast that Owens & Minor, Inc. will post 1.49 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jonathan A. Leon sold 5,282 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $11.82, for a total transaction of $62,433.24. Following the sale, the chief financial officer now owns 130,822 shares of the company’s stock, valued at $1,546,316.04. This trade represents a 3.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Owens & Minor

A number of institutional investors have recently added to or reduced their stakes in the business. Quarry LP boosted its position in Owens & Minor by 290.1% during the second quarter. Quarry LP now owns 2,099 shares of the company’s stock valued at $28,000 after acquiring an additional 1,561 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Owens & Minor by 176.8% in the 3rd quarter. Blue Trust Inc. now owns 2,787 shares of the company’s stock valued at $44,000 after purchasing an additional 1,780 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Owens & Minor by 76.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company’s stock valued at $43,000 after purchasing an additional 1,356 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Owens & Minor by 100.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 6,071 shares of the company’s stock worth $82,000 after purchasing an additional 3,044 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in Owens & Minor in the second quarter worth approximately $82,000. 98.04% of the stock is owned by institutional investors.

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.