Credit Suisse Group Raises Owens & Minor (NYSE:OMI) Price Target to $22.00

Owens & Minor (NYSE:OMI) had its target price hoisted by Credit Suisse Group from $18.00 to $22.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

OMI has been the topic of several other reports. Bank of America upgraded shares of Owens & Minor from a neutral rating to a buy rating and lifted their target price for the stock from $8.00 to $12.00 in a research report on Tuesday, July 21st. Robert W. Baird boosted their price objective on shares of Owens & Minor from $21.00 to $34.00 and gave the stock an outperform rating in a research note on Thursday. Cfra increased their price objective on Owens & Minor from $8.50 to $9.50 and gave the company a buy rating in a report on Wednesday, June 10th. Zacks Investment Research raised Owens & Minor from a hold rating to a buy rating and set a $14.00 price objective on the stock in a research note on Friday, July 24th. Finally, ValuEngine downgraded shares of Owens & Minor from a hold rating to a sell rating in a research report on Sunday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $18.19.

OMI stock opened at $20.36 on Friday. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -11.77, a P/E/G ratio of 0.44 and a beta of 0.59. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.63 and a quick ratio of 0.76. The company has a 50 day simple moving average of $15.83 and a 200 day simple moving average of $9.89. Owens & Minor has a 1 year low of $3.63 and a 1 year high of $22.16.

Owens & Minor (NYSE:OMI) last issued its earnings results on Tuesday, August 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Owens & Minor had a positive return on equity of 9.31% and a negative net margin of 1.23%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The business’s revenue for the quarter was down 23.9% compared to the same quarter last year. On average, equities research analysts anticipate that Owens & Minor will post 1.1 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.002 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.01 annualized dividend and a dividend yield of 0.04%. Owens & Minor’s payout ratio is 1.79%.

A number of hedge funds have recently modified their holdings of the business. Ensign Peak Advisors Inc acquired a new position in Owens & Minor in the first quarter valued at approximately $29,000. Heritage Wealth Advisors bought a new stake in shares of Owens & Minor in the 2nd quarter valued at $228,000. Meeder Asset Management Inc. increased its stake in shares of Owens & Minor by 324.4% in the 1st quarter. Meeder Asset Management Inc. now owns 5,088 shares of the company’s stock valued at $46,000 after acquiring an additional 3,889 shares in the last quarter. Advisor Group Holdings Inc. acquired a new position in shares of Owens & Minor during the 1st quarter valued at $65,000. Finally, L & S Advisors Inc bought a new position in Owens & Minor during the first quarter worth $91,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

About Owens & Minor

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company in the United States and internationally. It operates through two segments, Global Solutions and Global Products. The Global Solutions segment offers a portfolio of products and services to healthcare providers and manufacturers.

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Analyst Recommendations for Owens & Minor (NYSE:OMI)

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