Robert W. Baird Issues Positive Forecast for Owens & Minor (NYSE:OMI) Stock Price

Owens & Minor (NYSE:OMI) had its target price increased by Robert W. Baird from $10.00 to $11.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts also recently issued reports on OMI. UBS Group decreased their price objective on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Citigroup decreased their price objective on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Barclays decreased their price objective on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.08.

Owens & Minor Stock Performance

Shares of OMI stock opened at $9.32 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11. The firm has a fifty day moving average price of $11.44 and a 200 day moving average price of $13.18. The company has a market cap of $718.66 million, a P/E ratio of -14.34, a PEG ratio of 0.20 and a beta of 0.48. Owens & Minor has a 12 month low of $6.07 and a 12 month high of $28.35.

Owens & Minor (NYSE:OMI) last released its quarterly earnings data on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the prior year, the firm posted $0.69 earnings per share. Owens & Minor’s revenue for the quarter was up 1.5% on a year-over-year basis. Sell-side analysts predict that Owens & Minor will post 1.51 earnings per share for the current fiscal year.

Owens & Minor announced that its Board of Directors has authorized a stock repurchase program on Friday, February 28th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 13.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Owens & Minor

Several hedge funds have recently made changes to their positions in OMI. Coliseum Capital Management LLC boosted its stake in shares of Owens & Minor by 31.3% during the fourth quarter. Coliseum Capital Management LLC now owns 4,785,964 shares of the company’s stock worth $62,553,000 after buying an additional 1,141,483 shares during the period. Freestone Grove Partners LP acquired a new stake in shares of Owens & Minor during the fourth quarter worth about $5,125,000. Foundry Partners LLC acquired a new stake in shares of Owens & Minor during the third quarter worth about $5,238,000. Charles Schwab Investment Management Inc. raised its holdings in Owens & Minor by 13.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company’s stock worth $30,127,000 after purchasing an additional 276,807 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Owens & Minor by 77.0% during the fourth quarter. Deutsche Bank AG now owns 495,111 shares of the company’s stock worth $6,471,000 after purchasing an additional 215,455 shares in the last quarter. Institutional investors and hedge funds own 98.04% of the company’s stock.

About Owens & Minor

Owens & Minor, Inc is a healthcare solutions company, which engages in the product manufacturing and delivery, home health supply, and perioperative services to support care through the hospital and into the home. It operates through the Products and Healthcare Services, and Patient Direct segments.