Owens & Minor (NYSE:OMI) Hits New 1-Year Low Following Analyst Downgrade

Owens & Minor, Inc. (NYSE:OMIGet Free Report) reached a new 52-week low on Tuesday after Bank of America lowered their price target on the stock from $18.00 to $16.00. Bank of America currently has an underperform rating on the stock. Owens & Minor traded as low as $13.36 and last traded at $14.15, with a volume of 198081 shares traded. The stock had previously closed at $16.17.

A number of other equities analysts also recently weighed in on OMI. TheStreet raised shares of Owens & Minor from a “d+” rating to a “c-” rating in a research note on Monday, March 4th. Robert W. Baird dropped their price target on shares of Owens & Minor from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Tuesday. Leerink Partnrs reiterated a “market perform” rating on shares of Owens & Minor in a report on Monday, February 26th. StockNews.com cut shares of Owens & Minor from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, Citigroup upped their price objective on shares of Owens & Minor from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $21.88.

View Our Latest Stock Analysis on Owens & Minor

Insider Buying and Selling at Owens & Minor

In other Owens & Minor news, EVP Snehashish Sarkar sold 9,980 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $17.32, for a total transaction of $172,853.60. Following the completion of the sale, the executive vice president now directly owns 59,137 shares in the company, valued at $1,024,252.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Mark A. Beck sold 9,344 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $17.25, for a total value of $161,184.00. Following the completion of the sale, the director now owns 11,154 shares in the company, valued at $192,406.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Snehashish Sarkar sold 9,980 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $17.32, for a total transaction of $172,853.60. Following the completion of the transaction, the executive vice president now directly owns 59,137 shares of the company’s stock, valued at approximately $1,024,252.84. The disclosure for this sale can be found here. Insiders sold 36,923 shares of company stock worth $686,911 over the last ninety days. Company insiders own 3.59% of the company’s stock.

Institutional Trading of Owens & Minor

Several hedge funds have recently modified their holdings of the company. Deerfield Management Company L.P. Series C increased its holdings in shares of Owens & Minor by 35.6% in the third quarter. Deerfield Management Company L.P. Series C now owns 6,435,000 shares of the company’s stock valued at $103,990,000 after purchasing an additional 1,690,000 shares in the last quarter. Norges Bank bought a new position in shares of Owens & Minor during the fourth quarter worth $9,160,000. Dimensional Fund Advisors LP boosted its position in shares of Owens & Minor by 8.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,210,991 shares of the company’s stock worth $81,148,000 after purchasing an additional 327,002 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Owens & Minor by 61.1% during the third quarter. AQR Capital Management LLC now owns 446,911 shares of the company’s stock worth $7,222,000 after purchasing an additional 169,488 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Owens & Minor during the first quarter worth $4,683,000. Institutional investors and hedge funds own 98.04% of the company’s stock.

Owens & Minor Trading Down 5.5 %

The business’s 50-day moving average price is $19.14 and its two-hundred day moving average price is $21.35. The company has a market capitalization of $1.11 billion, a P/E ratio of -28.57, a PEG ratio of 0.50 and a beta of 0.33. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.16 and a quick ratio of 0.56.

Owens & Minor (NYSE:OMIGet Free Report) last announced its quarterly earnings results on Friday, May 3rd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 negative net margin of 0.37% and a positive return on equity of 12.97%. The business’s quarterly 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. As a group, analysts forecast that Owens & Minor, Inc. will post 1.53 EPS for the current fiscal year.

About Owens & Minor

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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.

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