Owens & Minor (NYSE:OMI) Hits New 52-Week Low After Earnings Miss

Key Points

• Owens & Minor shares hit a new 52-week low of $4.56 following a disappointing earnings report, which missed expectations with an EPS of $0.26 compared to the consensus of $0.27.
• Analysts have adjusted their price targets for the company, with Baird R W upgrading the stock to a "strong-buy" rating and setting a target of $10.00, while Citigroup has lowered its target from $13.00 to $11.00.
• Institutional investors own over 98% of Owens & Minor's stock, highlighting significant interest from hedge funds, with Coliseum Capital Management notably increasing its stake by 122%.

Owens & Minor, Inc. (NYSE:OMI - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $4.56 and last traded at $4.65, with a volume of 6046415 shares changing hands. The stock had previously closed at $7.09.

The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.01). Owens & Minor had a positive return on equity of 26.59% and a negative net margin of 13.78%. The business had revenue of $681.90 million during the quarter, compared to analysts' expectations of $2.73 billion. During the same period last year, the business earned $0.36 earnings per share. The company's revenue for the quarter was up 3.3% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on OMI shares. Citigroup reduced their price target on shares of Owens & Minor from $11.00 to $7.00 and set a "buy" rating on the stock in a research report on Tuesday. UBS Group set a $7.00 price target on shares of Owens & Minor in a research report on Wednesday. Baird R W raised shares of Owens & Minor from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 8th. Bank of America reduced their price target on shares of Owens & Minor from $7.50 to $4.75 and set an "underperform" rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. set a $10.00 price target on shares of Owens & Minor in a research report on Monday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $8.29.

Institutional Trading of Owens & Minor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OMI. Sterling Capital Management LLC raised its position in Owens & Minor by 758.3% in the fourth quarter. Sterling Capital Management LLC now owns 2,060 shares of the company's stock valued at $27,000 after purchasing an additional 1,820 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Owens & Minor by 76.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company's stock worth $28,000 after acquiring an additional 1,356 shares during the period. Versant Capital Management Inc increased its position in shares of Owens & Minor by 537.6% during the first quarter. Versant Capital Management Inc now owns 3,201 shares of the company's stock worth $29,000 after acquiring an additional 2,699 shares during the period. Parallel Advisors LLC increased its position in shares of 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 acquiring an additional 3,093 shares during the period. Finally, Quarry LP purchased a new stake in shares of Owens & Minor during the first quarter worth $34,000. Hedge funds and other institutional investors own 98.04% of the company's stock.

Owens & Minor Stock Down 2.4%

The business has a 50-day moving average price of $7.74 and a two-hundred day moving average price of $8.04. The company has a quick ratio of 0.41, a current ratio of 0.86 and a debt-to-equity ratio of 3.32. The firm has a market cap of $412.54 million, a PE ratio of -0.34, a price-to-earnings-growth ratio of 0.20 and a beta of 1.04.

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.