Owens & Minor (NYSE:OMI) Stock Price Down 3.2% - Here's Why

Owens & Minor, Inc. (NYSE:OMI - Get Free Report) shares were down 3.2% during trading on Wednesday . The stock traded as low as $8.87 and last traded at $8.70. Approximately 26,646 shares changed hands during trading, a decline of 98% from the average daily volume of 1,189,361 shares. The stock had previously closed at $8.99.

Analyst Upgrades and Downgrades

Several analysts have commented on OMI shares. Citigroup cut their target price on Owens & Minor from $13.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Robert W. Baird increased their target price on Owens & Minor from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, June 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Owens & Minor has a consensus rating of "Hold" and a consensus price target of $11.60.

Owens & Minor Price Performance

The firm has a fifty day moving average price of $7.64 and a two-hundred day moving average price of $9.10. The stock has a market capitalization of $627.27 million, a P/E ratio of -1.71, a PEG ratio of 0.36 and a beta of 1.40. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.41 and a current ratio of 1.13.

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

Institutional Investors Weigh In On Owens & Minor

A number of institutional investors and hedge funds have recently bought and sold shares of OMI. Bank of New York Mellon Corp raised its holdings in Owens & Minor by 6.0% during the fourth quarter. Bank of New York Mellon Corp now owns 622,921 shares of the company's stock valued at $8,142,000 after acquiring an additional 35,105 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Owens & Minor by 13.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company's stock valued at $30,127,000 after purchasing an additional 276,807 shares in the last quarter. Amundi grew its position in shares of Owens & Minor by 179.1% during the fourth quarter. Amundi now owns 36,303 shares of the company's stock valued at $523,000 after purchasing an additional 23,294 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in shares of Owens & Minor during the fourth quarter valued at about $257,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Owens & Minor by 35.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 301,578 shares of the company's stock valued at $3,942,000 after purchasing an additional 78,504 shares in the last quarter. 98.04% of the stock is owned by institutional investors.

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.