Robert W. Baird Has Lowered Expectations for Owens & Minor (NYSE:OMI) Stock Price

Key Points

• Analysts at Robert W. Baird have lowered the price target for Owens & Minor (NYSE: OMI) from $10.00 to $7.00, suggesting a potential upside of 50.70% based on the stock's previous close.
• The company's latest earnings report revealed an EPS of $0.26, missing predictions by $0.01, while revenue reached $681.90 million, reflecting a year-over-year increase of 3.3%.
• Despite the price target cut, Owens & Minor still holds various ratings, with a mix of "buy," "hold," and "strong-buy" ratings among analysts.

Owens & Minor (NYSE:OMI - Free Report) had its target price cut by Robert W. Baird from $10.00 to $7.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also issued reports on OMI. Baird R W upgraded shares of Owens & Minor from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. UBS Group reiterated a "buy" rating and set a $7.00 price objective (down previously from $13.00) on shares of Owens & Minor in a report on Monday, August 11th. Citigroup reissued a "buy" rating and set a $7.00 target price (down previously from $11.00) on shares of Owens & Minor in a research report on Tuesday. Finally, JPMorgan Chase & Co. set a $10.00 target price on shares of Owens & Minor in a research report on Monday, August 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Owens & Minor has an average rating of "Hold" and a consensus target price of $8.29.

Owens & Minor Price Performance

Owens & Minor stock traded up $0.26 during mid-day trading on Tuesday, reaching $5.66. 2,877,316 shares of the company's stock traded hands, compared to its average volume of 1,682,434. Owens & Minor has a 12-month low of $4.56 and a 12-month high of $16.63. 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 stock has a 50 day moving average of $7.62 and a two-hundred day moving average of $7.89. The company has a market cap of $437.18 million, a price-to-earnings ratio of -0.36, a PEG ratio of 0.38 and a beta of 1.04.

Owens & Minor (NYSE:OMI - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). Owens & Minor had a negative net margin of 13.78% and a positive return on equity of 26.59%. The business had revenue of $681.90 million for the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter last year, the business earned $0.36 EPS. Owens & Minor's revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts forecast that Owens & Minor will post 1.51 earnings per share for the current year.

Insider Activity

In other news, major shareholder Coliseum Capital Management, L acquired 720,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average price of $5.15 per share, with a total value of $3,708,000.00. Following the transaction, the insider directly owned 12,282,955 shares in the company, valued at approximately $63,257,218.25. This represents a 6.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have purchased 1,537,852 shares of company stock valued at $8,099,544. 3.69% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OMI. Sterling Capital Management LLC grew its position in shares of Owens & Minor by 758.3% in the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company's stock worth $27,000 after buying an additional 1,820 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Owens & Minor by 76.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company's stock worth $28,000 after purchasing an additional 1,356 shares in the last quarter. Versant Capital Management Inc boosted its stake in Owens & Minor by 537.6% in the 1st 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 in the last quarter. Parallel Advisors LLC boosted its stake in Owens & Minor by 1,387.0% in the 1st quarter. Parallel Advisors LLC now owns 3,316 shares of the company's stock worth $30,000 after purchasing an additional 3,093 shares in the last quarter. Finally, Quarry LP acquired a new stake in Owens & Minor in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 98.04% of the company's stock.

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.