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.
See Also: What is the Ex-Dividend Date in Investing?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
12 Stocks Corporate Insiders are Abandoning
An insider trade occurs when a corporate executive (such as a CEO, CFO or COO) that has non-public information about a company buys or sells shares of that company's stock. Company insiders are required by law to regularly report their stock purchases and sales to the SEC.
Tracking a company's insider trades is a metric that can be used to identify the direction that the company's executives believes that the company is headed. If a number of insiders sell shares of their company, they may believe that the company will have weak future earnings and that the share price will decline in the near future.
For example, if Microsoft's CEO, CFO and COO all recently sold shares of Microsoft stock, that would be an indication that there could be unreported news that may negatively effect Microsoft's stock price in the near future.
This slideshow lists the 12 companies that have had the highest levels of insider buying within the last 180 days.
View the "12 Stocks Corporate Insiders are Abandoning".