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Owens & Minor Sees Unusually High Options Volume (NYSE:OMI)

Last updated on Thursday, September 24, 2020 | 2020 MarketBeat

Owens & Minor, Inc. (NYSE:OMI) was the target of some unusual options trading activity on Thursday. Investors acquired 12,212 call options on the company. This is an increase of approximately 520% compared to the average daily volume of 1,969 call options.

Several equities research analysts recently weighed in on the stock. BofA Securities raised shares of Owens & Minor from a "neutral" rating to a "buy" rating and raised their price target for the company from $8.00 to $12.00 in a research report on Tuesday, July 21st. Robert W. Baird lifted their price target on shares of Owens & Minor from $21.00 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday. Bank of America upgraded shares of Owens & Minor from a "neutral" rating to a "buy" rating and raised their price objective for the company from $8.00 to $12.00 in a research report on Tuesday, July 21st. ValuEngine downgraded shares of Owens & Minor from a "hold" rating to a "sell" rating in a research report on Sunday, August 9th. Finally, Barclays raised their price objective on shares of Owens & Minor from $4.00 to $10.00 and gave the company an "underweight" rating in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Owens & Minor presently has an average rating of "Hold" and a consensus target price of $15.36.

Institutional investors have recently added to or reduced their stakes in the stock. Ensign Peak Advisors Inc purchased a new position in shares of Owens & Minor during the 1st quarter valued at approximately $29,000. Meeder Asset Management Inc. boosted its position in Owens & Minor by 324.4% during the 1st quarter. Meeder Asset Management Inc. now owns 5,088 shares of the company's stock worth $46,000 after acquiring an additional 3,889 shares during the period. First Trust Advisors LP acquired a new stake in Owens & Minor during the 1st quarter worth about $56,000. Advisor Group Holdings Inc. acquired a new stake in Owens & Minor during the 1st quarter worth about $65,000. Finally, Summit X LLC acquired a new stake in Owens & Minor during the 2nd quarter worth about $76,000. Hedge funds and other institutional investors own 87.99% of the company's stock.

Shares of Owens & Minor stock traded up $7.55 during trading hours on Thursday, reaching $21.34. The company's stock had a trading volume of 378,183 shares, compared to its average volume of 2,512,975. Owens & Minor has a one year low of $3.63 and a one year high of $17.66. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.63 and a quick ratio of 0.76. The firm has a 50 day moving average price of $15.77 and a 200-day moving average price of $9.78. The stock has a market cap of $879.54 million, a P/E ratio of -11.43, a P/E/G ratio of 0.44 and a beta of 0.59.

Owens & Minor (NYSE:OMI) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. Owens & Minor had a negative net margin of 1.23% and a positive return on equity of 9.31%. The firm had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.92 billion. During the same period in the previous year, the company earned $0.10 EPS. The firm's revenue for the quarter was down 23.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Owens & Minor will post 1.1 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.002 per share. This represents a $0.01 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Monday, September 14th. Owens & Minor's payout ratio is currently 1.79%.

Owens & Minor Company Profile

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company in the United States and internationally. It operates through two segments, Global Solutions and Global Products. The Global Solutions segment offers a portfolio of products and services to healthcare providers and manufacturers.

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