Owens & Minor (NYSE:OMI) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Owens & Minor (NYSE:OMI - Get Free Report) announced its earnings results on Saturday. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03, Briefing.com reports. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The firm's revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 earnings per share.

Owens & Minor Stock Performance

Shares of NYSE:OMI traded down $0.05 during midday trading on Tuesday, reaching $7.10. The company had a trading volume of 269,469 shares, compared to its average volume of 1,118,618. The stock has a market cap of $548.51 million, a P/E ratio of -10.92, a P/E/G ratio of 0.20 and a beta of 1.38. The company's 50 day moving average price is $8.08 and its 200 day moving average price is $10.73. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11. Owens & Minor has a 52-week low of $6.07 and a 52-week high of $21.02.

Owens & Minor declared that its board has approved a stock buyback program on Friday, February 28th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 13.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup reduced their price target on Owens & Minor from $13.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. JPMorgan Chase & Co. lowered 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. Robert W. Baird lifted their price objective on shares of Owens & Minor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. Finally, UBS Group cut their price objective on shares of Owens & Minor from $25.00 to $13.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Owens & Minor has a consensus rating of "Hold" and a consensus price target of $12.50.

Insider Buying and Selling

In other news, major shareholder Coliseum Capital Management, L purchased 354,901 shares of Owens & Minor stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $9.19 per share, for a total transaction of $3,261,540.19. Following the transaction, the insider now directly owns 9,824,599 shares of the company's stock, valued at approximately $90,288,064.81. This trade represents a 3.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In 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.

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.