Shares of Owens & Minor, Inc. (NYSE:OMI - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $7.30, but opened at $7.07. Owens & Minor shares last traded at $6.98, with a volume of 229,969 shares traded.
Analyst Ratings Changes
A number of research firms have recently commented on OMI. Robert W. Baird boosted their target price on shares of Owens & Minor from $10.00 to $11.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. UBS Group cut their target price on shares of Owens & Minor from $25.00 to $13.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Citigroup cut their target price 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. Finally, JPMorgan Chase & Co. cut their target price on shares of Owens & Minor from $14.00 to $10.00 and set an "underweight" rating for the company in a research note on Monday, March 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Owens & Minor currently has a consensus rating of "Hold" and a consensus target price of $12.50.
Read Our Latest Analysis on Owens & Minor
Owens & Minor Stock Performance
The company has a market cap of $498.29 million, a PE ratio of -9.92, a PEG ratio of 0.20 and a beta of 1.38. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.45 and a current ratio of 1.09. The firm's 50 day moving average is $7.61 and its 200-day moving average is $10.36.
Owens & Minor (NYSE:OMI - Get Free Report) last announced its quarterly earnings data on Saturday, May 10th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The business's quarterly revenue was up .7% compared to the same quarter last year. On average, research analysts anticipate that Owens & Minor, Inc. will post 1.51 earnings per share for the current fiscal year.
Owens & Minor announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 28th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 13.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.
Insider Activity at Owens & Minor
In related news, major shareholder Coliseum Capital Management, L acquired 160,000 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average cost of $8.53 per share, for a total transaction of $1,364,800.00. Following the acquisition, the insider now owns 10,784,599 shares in the company, valued at $91,992,629.47. The trade was a 1.51% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders acquired 2,718,412 shares of company stock valued at $24,495,308. Corporate insiders own 3.69% of the company's stock.
Hedge Funds Weigh In On Owens & Minor
Several large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new position in shares of Owens & Minor in the 1st quarter worth approximately $91,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Owens & Minor by 11.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 243,826 shares of the company's stock worth $2,202,000 after acquiring an additional 24,065 shares during the last quarter. Woodline Partners LP acquired a new position in shares of Owens & Minor in the 1st quarter worth approximately $613,000. Empowered Funds LLC lifted its holdings in shares of Owens & Minor by 3.0% in the 1st quarter. Empowered Funds LLC now owns 365,634 shares of the company's stock worth $3,302,000 after acquiring an additional 10,613 shares during the last quarter. Finally, Aristeia Capital L.L.C. acquired a new position in shares of Owens & Minor in the 1st quarter worth approximately $241,000. 98.04% of the stock is currently owned by institutional investors and hedge funds.
Owens & Minor Company Profile
(
Get Free Report)
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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