Owens & Minor (NYSE:OMI) Price Target Lowered to $4.75 at Bank of America

Key Points

• Bank of America lowered its price target for Owens & Minor from $7.50 to $4.75, maintaining an "underperform" rating on the stock.
• Despite the downgrade, analysts have differing opinions, with several others setting higher price targets, indicating a consensus target price of $9.29.
• Owens & Minor reported a Q2 EPS of $0.26, which fell short of expectations, leading to a continued decline in its stock performance.

Owens & Minor (NYSE:OMI - Get Free Report) had its price objective dropped by analysts at Bank of America from $7.50 to $4.75 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "underperform" rating on the stock. Bank of America's price target indicates a potential upside of 2.26% from the company's previous close.

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

Owens & Minor Price Performance

Shares of Owens & Minor stock opened at $4.65 on Tuesday. The business has a 50 day moving average of $7.77 and a 200 day moving average of $8.06. Owens & Minor has a 52 week low of $4.56 and a 52 week high of $16.63. The company has a market cap 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 quick ratio of 0.41, a current ratio of 1.13 and a debt-to-equity ratio of 3.32.

Owens & Minor (NYSE:OMI - Get Free Report) last posted its earnings results 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 positive return on equity of 17.09% and a negative net margin of 3.41%. The company had revenue of $681.90 million during the quarter, compared to analysts' expectations of $2.73 billion. During the same period in the prior year, the business posted $0.36 earnings per share. The company's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts forecast that Owens & Minor will post 1.51 earnings per share for the current year.

Institutional Investors Weigh In On Owens & Minor

Institutional investors have recently modified their holdings of the stock. Coliseum Capital Management LLC boosted its stake in Owens & Minor by 122.0% in the 1st quarter. Coliseum Capital Management LLC now owns 10,624,599 shares of the company's stock worth $95,940,000 after purchasing an additional 5,838,635 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Owens & Minor by 19.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,752,960 shares of the company's stock worth $24,859,000 after buying an additional 447,917 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of Owens & Minor in the first quarter worth approximately $3,870,000. Nuveen LLC purchased a new stake in shares of Owens & Minor during the first quarter valued at approximately $3,729,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Owens & Minor by 133.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 703,050 shares of the company's stock valued at $6,349,000 after acquiring an additional 401,472 shares in the last quarter. 98.04% of the stock is owned by hedge funds and other institutional investors.

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.

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