Owens & Minor (NYSE:OMI) Sets New 52-Week Low - Here's What Happened

Key Points

• Owens & Minor shares hit a new 12-month low of $6.07 during trading, closing slightly higher at $6.52 with a trading volume of over 2.6 million shares.
• Analyst ratings are mixed, with Citigroup lowering its target price from $13 to $11 but maintaining a "buy" rating, while Robert W. Baird raised its target from $9 to $10 with a "neutral" rating.
• The company has a significant debt-to-equity ratio of 3.32 and reported a negative net margin of 3.41% despite a year-over-year revenue increase of 0.7%.

Shares of Owens & Minor, Inc. (NYSE:OMI - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $6.07 and last traded at $6.52, with a volume of 2643238 shares trading hands. The stock had previously closed at $6.90.

Analysts Set New Price Targets

Several analysts have weighed in on OMI shares. Citigroup dropped their price objective on shares of Owens & Minor from $13.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Robert W. Baird lifted their price target on shares of Owens & Minor from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, June 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Owens & Minor currently has an average rating of "Hold" and an average price target of $11.60.

Owens & Minor Stock Performance

The stock has a 50 day moving average of $7.80 and a 200 day moving average of $8.23. The company has a quick ratio of 0.41, a current ratio of 1.13 and a debt-to-equity ratio of 3.32. The firm has a market cap of $545.39 million, a price-to-earnings ratio of -1.49, a P/E/G ratio of 0.28 and a beta of 1.04.

Owens & Minor (NYSE:OMI - Get Free Report) last released its earnings results on Saturday, May 10th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Owens & Minor had a negative net margin of 3.41% and a positive return on equity of 17.09%. During the same period last year, the company posted $0.19 EPS. The company's revenue was up .7% compared to the same quarter last year. As a group, analysts anticipate that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Owens & Minor

Hedge funds and other institutional investors have recently modified their holdings of the business. Sei Investments Co. acquired a new stake in Owens & Minor in the fourth quarter valued at approximately $418,000. LPL Financial LLC bought a new stake in Owens & Minor during the 4th quarter worth approximately $617,000. JPMorgan Chase & Co. increased its position in Owens & Minor by 29.6% in the 4th quarter. JPMorgan Chase & Co. now owns 488,497 shares of the company's stock valued at $6,385,000 after acquiring an additional 111,667 shares during the period. Norges Bank bought a new position in shares of Owens & Minor during the fourth quarter valued at $2,465,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Owens & Minor by 24.6% during the fourth quarter. Wells Fargo & Company MN now owns 48,039 shares of the company's stock worth $628,000 after purchasing an additional 9,484 shares during the period. Institutional investors own 98.04% of the company's stock.

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.