Owens & Minor (NYSE:OMI) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Owens & Minor (NYSE:OMI) from a buy rating to a hold rating in a report published on Thursday.

A number of other research analysts also recently weighed in on OMI. Citigroup increased their price objective on shares of Owens & Minor from $24.00 to $28.00 and gave the company a neutral rating in a research report on Tuesday, April 30th. Robert W. Baird lowered their price target on Owens & Minor from $28.00 to $24.00 and set a neutral rating on the stock in a report on Monday, May 6th. Leerink Partnrs reiterated a market perform rating on shares of Owens & Minor in a research report on Monday, February 26th. TheStreet upgraded Owens & Minor from a d+ rating to a c- rating in a research report on Monday, March 4th. Finally, SVB Leerink initiated coverage on Owens & Minor in a research note on Monday, February 26th. They set a market perform rating and a $24.00 price target for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $23.29.

Owens & Minor Stock Up 1.4 %

Owens & Minor stock opened at $17.53 on Thursday. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -34.37, a PEG ratio of 0.56 and a beta of 0.52. The stock has a fifty day simple moving average of $23.43 and a two-hundred day simple moving average of $21.78. Owens & Minor has a 12 month low of $13.64 and a 12 month 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.

Owens & Minor (NYSE:OMI) last released its quarterly earnings data on Friday, May 3rd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Owens & Minor had a positive return on equity of 12.97% and a negative net margin of 0.37%. Owens & Minor’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. Equities analysts predict that Owens & Minor will post 1.53 EPS for the current fiscal year.

Insider Buying and Selling at Owens & Minor

In other news, SVP Michael Wayne Lowry sold 10,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $25.00, for a total value of $250,000.00. Following the completion of the sale, 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 accessible through the SEC website. In related news, SVP Michael Wayne Lowry sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $25.00, for a total value of $250,000.00. Following the completion of the transaction, the senior vice president now owns 71,654 shares of the company’s stock, valued at approximately $1,791,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Heath H. Galloway sold 2,031 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $20.18, for a total value of $40,985.58. Following the sale, the executive vice president now directly owns 56,898 shares in the company, valued at $1,148,201.64. The disclosure for this sale can be found here. Insiders have sold 17,031 shares of company stock valued at $415,186 over the last 90 days. 3.59% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OMI. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Owens & Minor by 33.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,049 shares of the company’s stock worth $276,000 after acquiring an additional 4,304 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Owens & Minor by 62.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,347 shares of the company’s stock valued at $103,000 after purchasing an additional 2,448 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Owens & Minor during the third quarter valued at about $218,000. Victory Capital Management Inc. increased its holdings in shares of Owens & Minor by 36.6% in the third quarter. Victory Capital Management Inc. now owns 130,630 shares of the company’s stock worth $2,111,000 after purchasing an additional 35,019 shares during the last quarter. Finally, Jump Financial LLC lifted its position in shares of Owens & Minor by 4.3% in the third quarter. Jump Financial LLC now owns 95,508 shares of the company’s stock worth $1,543,000 after buying an additional 3,905 shares in the last quarter. 98.04% of the stock is currently owned by institutional investors.

Owens & Minor Company Profile

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.