Owens & Minor (NYSE:OMI) Price Target Cut to $7.00 by Analysts at Robert W. Baird

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 - Get Free Report) had its price objective reduced by investment analysts at Robert W. Baird from $10.00 to $7.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Robert W. Baird's price objective would suggest a potential upside of 50.70% from the stock's previous close.

Several other analysts have also recently commented on OMI. JPMorgan Chase & Co. set a $10.00 target price on Owens & Minor in a research report on Monday. Baird R W raised Owens & Minor from a "hold" rating to a "strong-buy" rating in a research note on Friday. UBS Group restated a "buy" rating on shares of Owens & Minor in a research report on Monday. Finally, Citigroup reiterated a "buy" rating and issued a $7.00 target price (down previously from $11.00) on shares of Owens & Minor in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Owens & Minor currently has an average rating of "Hold" and a consensus price target of $9.29.

Owens & Minor Price Performance

OMI stock opened at $4.65 on Tuesday. Owens & Minor has a one year low of $4.56 and a one year high of $16.63. The firm has a 50-day moving average of $7.77 and a two-hundred day moving average of $8.06. The firm has a market capitalization of $358.83 million, a PE ratio of -0.98, a P/E/G ratio of 0.31 and a beta of 1.04. The company has a current ratio of 1.13, a quick ratio of 0.41 and a debt-to-equity ratio of 3.32.

Owens & Minor (NYSE:OMI - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.01). Owens & Minor had a negative net margin of 3.41% and a positive return on equity of 17.09%. The firm had revenue of $681.90 million for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The firm's revenue was up 3.3% compared to the same quarter last year. On average, analysts forecast that Owens & Minor will post 1.51 earnings per share for the current year.

Institutional Investors Weigh In On Owens & Minor

Several institutional investors have recently made changes to their positions in OMI. Inspire Advisors LLC increased its holdings in Owens & Minor by 35.2% in the second quarter. Inspire Advisors LLC now owns 19,833 shares of the company's stock worth $180,000 after buying an additional 5,159 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Owens & Minor by 2.7% during the 2nd quarter. Empowered Funds LLC now owns 375,508 shares of the company's stock valued at $3,417,000 after purchasing an additional 9,874 shares in the last quarter. Creative Planning lifted its stake in shares of Owens & Minor by 58.1% in the 2nd quarter. Creative Planning now owns 48,490 shares of the company's stock valued at $441,000 after purchasing an additional 17,812 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Owens & Minor in the 2nd quarter valued at $300,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in Owens & Minor by 24.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 19,075 shares of the company's stock worth $174,000 after purchasing an additional 3,725 shares in the last quarter. 98.04% of the stock is currently owned by institutional investors and hedge funds.

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.

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