Owens & Minor, Inc. (NYSE:OMI) Given Consensus Recommendation of “Hold” by Analysts

Shares of Owens & Minor, Inc. (NYSE:OMI) have earned an average rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $13.75.

Several research analysts have weighed in on OMI shares. UBS Group lowered their price objective on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Robert W. Baird upped their target price on shares of Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. cut their price target on Owens & Minor from $14.00 to $10.00 and set an “underweight” rating for the company in a research note on Monday, March 10th.

Insider Buying and Selling

In other Owens & Minor news, major shareholder Coliseum Capital Management, L acquired 354,901 shares of Owens & Minor stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $9.19 per share, for a total transaction of $3,261,540.19. Following the purchase, the insider now directly owns 9,824,599 shares of the company’s stock, valued at $90,288,064.81. This trade represents a 3.75 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.59% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Owens & Minor

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sterling Capital Management LLC increased its holdings in Owens & Minor by 758.3% during the fourth quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock worth $27,000 after buying an additional 1,820 shares during the last quarter. Blue Trust Inc. grew its position in shares of Owens & Minor by 57.4% during the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock valued at $57,000 after acquiring an additional 1,600 shares during the period. KBC Group NV grew its position in shares of Owens & Minor by 98.2% during the 4th quarter. KBC Group NV now owns 4,434 shares of the company’s stock valued at $58,000 after acquiring an additional 2,197 shares during the period. Cetera Investment Advisers purchased a new stake in shares of Owens & Minor during the 4th quarter worth approximately $140,000. Finally, Guggenheim Capital LLC bought a new stake in shares of Owens & Minor in the 4th quarter worth approximately $166,000. 98.04% of the stock is owned by hedge funds and other institutional investors.

Owens & Minor Stock Performance

Shares of Owens & Minor stock opened at $8.60 on Monday. The business has a 50-day simple moving average of $9.84 and a 200 day simple moving average of $12.36. Owens & Minor has a one year low of $6.07 and a one year high of $28.35. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. The firm has a market capitalization of $664.17 million, a price-to-earnings ratio of -13.23, a PEG ratio of 0.20 and a beta of 0.61.

Owens & Minor (NYSE:OMI) last released its quarterly earnings data on Friday, February 28th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, research analysts anticipate that Owens & Minor will post 1.51 earnings per share for the current fiscal year.

Owens & Minor declared that its board has authorized a share repurchase plan on Friday, February 28th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 13.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About Owens & Minor

Owens & Minor, Inc is a healthcare solutions company, which engages in the product manufacturing and delivery, home health supply, and perioperative services to support care through the hospital and into the home. It operates through the Products and Healthcare Services, and Patient Direct segments.