Owens & Minor (NYSE:OMI) Shares Cross Above 200 Day Moving Average – Here’s Why

Owens & Minor, Inc. (NYSE:OMIGet Free Report)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.28 and traded as high as $15.18. Owens & Minor shares last traded at $14.97, with a volume of 315,763 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Robert W. Baird decreased their price target on Owens & Minor from $19.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. UBS Group lowered their target price 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 cut their price target on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Finally, Citigroup lowered their price objective on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.50.

Check Out Our Latest Report on OMI

Owens & Minor Stock Performance

The stock has a 50-day moving average price of $13.61 and a 200 day moving average price of $14.28. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -23.03, a P/E/G ratio of 0.42 and a beta of 0.46.

Owens & Minor (NYSE:OMIGet Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter in the previous year, the business posted $0.44 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. On average, analysts forecast that Owens & Minor, Inc. will post 1.49 EPS for the current year.

Insider Buying and Selling at Owens & Minor

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

Institutional Investors Weigh In On Owens & Minor

A number of institutional investors and hedge funds have recently bought and sold shares of OMI. American Century Companies Inc. grew its position in shares of Owens & Minor by 14.8% during the second quarter. American Century Companies Inc. now owns 172,878 shares of the company’s stock worth $2,334,000 after acquiring an additional 22,311 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Owens & Minor by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,534,204 shares of the company’s stock valued at $61,213,000 after purchasing an additional 76,599 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Owens & Minor by 10.1% in the second quarter. Hsbc Holdings PLC now owns 20,639 shares of the company’s stock valued at $278,000 after purchasing an additional 1,885 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Owens & Minor during the second quarter worth $305,000. Finally, Canada Pension Plan Investment Board purchased a new position in Owens & Minor in the 2nd quarter valued at $82,000. 98.04% of the stock is owned by hedge funds and other institutional investors.

Owens & Minor Company Profile

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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.

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