Owens & Minor, Inc. (NYSE:OMI) Receives Consensus Recommendation of “Hold” from Analysts

Owens & Minor, Inc. (NYSE:OMI) has been assigned a consensus rating of “Hold” from the six research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $12.50.

A number of brokerages have recently commented on OMI. UBS Group lowered their price objective on Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price target on shares of Owens & Minor from $14.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, March 10th. Citigroup decreased their price objective on shares of Owens & Minor from $13.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, Robert W. Baird lifted their target price on shares of Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd.

Insider Buying and Selling

In other news, major shareholder Coliseum Capital Management, L bought 225,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The shares were acquired at an average cost of $7.39 per share, with a total value of $1,662,750.00. Following the completion of the transaction, the insider now directly owns 11,482,955 shares in the company, valued at $84,859,037.45. This represents a 2.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have purchased 2,718,412 shares of company stock valued at $24,495,308. 3.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On Owens & Minor

Large investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its holdings in shares of Owens & Minor by 758.3% during the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock worth $27,000 after purchasing an additional 1,820 shares in the last quarter. Versant Capital Management Inc lifted its position in Owens & Minor by 537.6% in the first quarter. Versant Capital Management Inc now owns 3,201 shares of the company’s stock worth $29,000 after purchasing an additional 2,699 shares during the period. Parallel Advisors LLC boosted its stake in Owens & Minor by 1,387.0% during the first quarter. Parallel Advisors LLC now owns 3,316 shares of the company’s stock worth $30,000 after buying an additional 3,093 shares in the last quarter. Quarry LP bought a new stake in Owens & Minor in the 1st quarter valued at $34,000. Finally, Headlands Technologies LLC bought a new stake in Owens & Minor in the 1st quarter valued at $55,000. Institutional investors and hedge funds own 98.04% of the company’s stock.

Owens & Minor Price Performance

NYSE OMI opened at $7.08 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The stock has a market capitalization of $546.97 million, a PE ratio of -10.89, a price-to-earnings-growth ratio of 0.20 and a beta of 1.38. Owens & Minor has a 12-month low of $6.07 and a 12-month high of $18.91. The company has a 50 day moving average price of $7.82 and a two-hundred day moving average price of $10.52.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Saturday, May 10th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. Owens & Minor’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 earnings per share. As a group, equities 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 initiated a stock repurchase program on Friday, February 28th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Owens & Minor Company Profile

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.