Owens & Minor (NYSE:OMI) Sets New 1-Year Low - Time to Sell?

Owens & Minor, Inc. (NYSE:OMI - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $6.72 and last traded at $7.03, with a volume of 1308554 shares traded. The stock had previously closed at $7.00.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OMI. Robert W. Baird raised their target price on shares of Owens & Minor from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Monday, March 3rd. Citigroup cut their price objective on Owens & Minor from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. lowered their target price on Owens & Minor from $14.00 to $10.00 and set an "underweight" rating on the stock in a report on Monday, March 10th. Finally, UBS Group cut their price target on 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $12.50.

Owens & Minor Stock Performance

The company has a market cap of $619.59 million, a PE ratio of -12.37, a P/E/G ratio of 0.20 and a beta of 1.38. The stock's 50 day simple moving average is $8.25 and its two-hundred day simple moving average is $10.94. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11.

Owens & Minor (NYSE:OMI - Get Free Report) last announced its quarterly earnings results on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.68 billion. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 EPS. As a group, research analysts anticipate that Owens & Minor, Inc. will post 1.51 earnings per share for the current year.

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

Insider Buying and Selling at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L purchased 225,000 shares of the stock in a transaction dated Wednesday, April 9th. The stock was acquired at an average cost of $7.39 per share, for a total transaction of $1,662,750.00. Following the acquisition, the insider now owns 11,482,955 shares of the company's stock, valued at $84,859,037.45. The trade was a 2.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have acquired a total of 2,718,412 shares of company stock valued at $24,495,308 in the last three months. Corporate insiders own 3.69% of the company's stock.

Hedge Funds Weigh In On Owens & Minor

Institutional investors have recently made changes to their positions in the stock. Sterling Capital Management LLC increased its holdings 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 acquiring an additional 1,820 shares during the period. Versant Capital Management Inc raised its holdings in shares of Owens & Minor by 537.6% during the first quarter. Versant Capital Management Inc now owns 3,201 shares of the company's stock valued at $29,000 after buying an additional 2,699 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Owens & Minor by 1,387.0% during the first quarter. Parallel Advisors LLC now owns 3,316 shares of the company's stock worth $30,000 after buying an additional 3,093 shares during the period. Blue Trust Inc. grew its holdings in Owens & Minor by 57.4% in the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company's stock worth $57,000 after buying an additional 1,600 shares in the last quarter. Finally, KBC Group NV increased its position in Owens & Minor by 98.2% in the 4th quarter. KBC Group NV now owns 4,434 shares of the company's stock valued at $58,000 after acquiring an additional 2,197 shares during the period. 98.04% of the stock is owned by 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.