Robert W. Baird Cuts Owens & Minor (NYSE:OMI) Price Target to $24.00

Owens & Minor (NYSE:OMI) had its price objective trimmed by Robert W. Baird from $28.00 to $24.00 in a research note published on Monday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts also recently commented on OMI. StockNews.com upgraded Owens & Minor from a hold rating to a buy rating in a report on Wednesday, February 21st. TheStreet upgraded Owens & Minor from a d+ rating to a c- rating in a research note on Monday, March 4th. Citigroup boosted their price target on Owens & Minor from $24.00 to $28.00 and gave the company a neutral rating in a research note on Tuesday, April 30th. Leerink Partnrs reiterated a market perform rating on shares of Owens & Minor in a research report on Monday, February 26th. Finally, UBS Group lowered their price objective on shares of Owens & Minor from $28.00 to $26.00 and set a buy rating for the company in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Owens & Minor currently has a consensus rating of Hold and a consensus target price of $23.29.

Owens & Minor Price Performance

Shares of NYSE:OMI opened at $18.37 on Monday. Owens & Minor has a 1-year low of $13.64 and a 1-year high of $28.35. The company has a current ratio of 1.16, a quick ratio of 0.56 and a debt-to-equity ratio of 2.17. The business’s 50 day moving average is $24.88 and its 200-day moving average is $21.51. The firm has a market capitalization of $1.41 billion, a PE ratio of -36.02, a PEG ratio of 0.57 and a beta of 0.52.

Owens & Minor (NYSE:OMI) last announced its quarterly earnings results on Friday, May 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. Owens & Minor had a negative net margin of 0.37% and a positive return on equity of 12.97%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period last year, the firm posted $0.05 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. Sell-side analysts predict that Owens & Minor will post 1.54 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Michael Wayne Lowry sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the transaction, the senior vice president now directly owns 71,654 shares of the company’s stock, valued at $1,791,350. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Jonathan A. Leon sold 5,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $24.84, for a total value of $124,200.00. Following the transaction, the senior vice president now directly owns 84,673 shares in the company, valued at $2,103,277.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael Wayne Lowry sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the transaction, the senior vice president now owns 71,654 shares of the company’s stock, valued at approximately $1,791,350. The disclosure for this sale can be found here. 2.62% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of Owens & Minor by 52.1% in the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the company’s stock valued at $46,000 after purchasing an additional 563 shares during the last quarter. Rhumbline Advisers raised its stake in Owens & Minor by 0.3% in the third quarter. Rhumbline Advisers now owns 247,846 shares of the company’s stock valued at $4,005,000 after buying an additional 660 shares during the last quarter. Quarry LP increased its stake in Owens & Minor by 38.8% during the 4th quarter. Quarry LP now owns 2,573 shares of the company’s stock valued at $50,000 after purchasing an additional 719 shares in the last quarter. Riverview Trust Co purchased a new stake in Owens & Minor during the 1st quarter valued at about $25,000. Finally, ProShare Advisors LLC boosted its holdings in shares of Owens & Minor by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 15,021 shares of the company’s stock valued at $416,000 after acquiring an additional 1,029 shares during the last quarter. Hedge funds and other institutional investors own 98.04% of the company’s stock.

About Owens & Minor

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.