Owens & Minor (NYSE:OMI) Price Target Raised to $10.00 at Robert W. Baird

Owens & Minor (NYSE:OMI - Free Report) had its target price increased by Robert W. Baird from $9.00 to $10.00 in a report published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Owens & Minor from $14.00 to $10.00 and set an "underweight" rating for the company in a research report on Monday, March 10th. UBS Group decreased their price objective on Owens & Minor from $25.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, Citigroup decreased 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $12.33.

Owens & Minor Trading Up 4.9%

NYSE:OMI traded up $0.37 on Friday, reaching $7.98. The company's stock had a trading volume of 1,432,789 shares, compared to its average volume of 1,166,927. Owens & Minor has a 12-month low of $6.07 and a 12-month high of $17.75. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The firm has a market cap of $616.80 million, a price-to-earnings ratio of -12.28, a price-to-earnings-growth ratio of 0.20 and a beta of 1.31. The stock has a 50 day moving average price of $7.15 and a 200 day moving average price of $9.99.

Owens & Minor (NYSE:OMI - Get Free Report) last posted 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 positive return on equity of 14.60% and a negative net margin of 0.46%. During the same period in the prior year, the firm posted $0.19 EPS. Owens & Minor's revenue for the quarter was up .7% compared to the same quarter last year. On average, equities analysts anticipate that Owens & Minor will post 1.51 EPS for the current fiscal year.

Owens & Minor announced that its Board of Directors has approved a share buyback plan on Friday, February 28th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 13.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other Owens & Minor news, major shareholder Coliseum Capital Management, L acquired 160,000 shares of the stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average price of $8.53 per share, with a total value of $1,364,800.00. Following the completion of the transaction, the insider now directly owns 10,784,599 shares in the company, valued at approximately $91,992,629.47. This trade represents a 1.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders acquired a total of 625,000 shares of company stock valued at $4,909,150 over the last quarter. Company insiders own 3.69% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its holdings in Owens & Minor by 758.3% in the fourth quarter. Sterling Capital Management LLC now owns 2,060 shares of the company's stock valued at $27,000 after acquiring an additional 1,820 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Owens & Minor by 537.6% in the first quarter. Versant Capital Management Inc now owns 3,201 shares of the company's stock valued at $29,000 after acquiring an additional 2,699 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Owens & Minor by 1,387.0% in the first quarter. Parallel Advisors LLC now owns 3,316 shares of the company's stock valued at $30,000 after acquiring an additional 3,093 shares during the last quarter. Quarry LP acquired a new position in Owens & Minor in the first quarter valued at $34,000. Finally, Blue Trust Inc. boosted its holdings in Owens & Minor by 57.4% in the fourth quarter. Blue Trust Inc. now owns 4,387 shares of the company's stock valued at $57,000 after acquiring an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 98.04% of the company's stock.

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.