Owens & Minor (OMI) Reaches New 12-Month Low Following Analyst Downgrade

Owens & Minor, Inc. (NYSE:OMI) shares hit a new 52-week low during trading on Wednesday after Zacks Investment Research downgraded the stock from a hold rating to a sell rating. The company traded as low as $3.87 and last traded at $3.87, with a volume of 53703 shares trading hands. The stock had previously closed at $4.02.

A number of other research analysts have also recently commented on OMI. Leerink Swann set a $9.00 price target on Owens & Minor and gave the company a “hold” rating in a research report on Wednesday, October 31st. Bank of America dropped their price target on Owens & Minor from $11.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, January 3rd. Barclays reaffirmed an “underweight” rating and set a $8.00 price target (down previously from $12.00) on shares of Owens & Minor in a research report on Thursday, November 1st. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $8.50 price objective on shares of Owens & Minor in a research note on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Owens & Minor presently has a consensus rating of “Hold” and an average price target of $6.70.

Several large investors have recently added to or reduced their stakes in the stock. Cardinal Capital Management bought a new stake in shares of Owens & Minor during the 1st quarter valued at $277,000. Geode Capital Management LLC raised its stake in shares of Owens & Minor by 12.4% during the 4th quarter. Geode Capital Management LLC now owns 660,313 shares of the company’s stock valued at $4,179,000 after purchasing an additional 72,726 shares during the period. Norges Bank bought a new stake in shares of Owens & Minor during the 4th quarter valued at $6,208,000. Dimensional Fund Advisors LP raised its stake in shares of Owens & Minor by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,997,973 shares of the company’s stock valued at $31,637,000 after purchasing an additional 19,174 shares during the period. Finally, FMR LLC raised its stake in shares of Owens & Minor by 159,300.0% during the 4th quarter. FMR LLC now owns 4,782 shares of the company’s stock valued at $30,000 after purchasing an additional 4,779 shares during the period. Institutional investors own 95.33% of the company’s stock.

The company has a debt-to-equity ratio of 3.18, a current ratio of 1.72 and a quick ratio of 0.85. The company has a market cap of $243.26 million, a PE ratio of 3.30, a price-to-earnings-growth ratio of 1.84 and a beta of 1.66.

Owens & Minor (NYSE:OMI) last released its quarterly earnings data on Tuesday, February 19th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). Owens & Minor had a negative net margin of 4.44% and a positive return on equity of 8.99%. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts expect that Owens & Minor, Inc. will post 0.64 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.0025 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.01 dividend on an annualized basis and a yield of 0.26%. Owens & Minor’s dividend payout ratio is currently 0.87%.

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Owens & Minor Company Profile (NYSE:OMI)

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare services company in the United States, the United Kingdom, Ireland, France, Germany, and other European countries. It operates through three segments: Domestic, International, and Proprietary Products. The company offers supply chain assistance to the providers of healthcare services; and the manufacturers of healthcare products, supplies, and devices.

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