Owens & Minor (NYSE:OMI) Price Target Raised to $10.00

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

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. dropped their price target 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. UBS Group lowered their price objective on shares of 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 lowered 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 report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $12.33.

Owens & Minor Trading Down 0.9%

Shares of OMI stock traded down $0.08 during trading hours on Friday, reaching $7.93. 1,634,125 shares of the stock were exchanged, compared to its average volume of 1,171,494. Owens & Minor has a 12-month low of $6.07 and a 12-month high of $17.75. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11. The company's 50-day moving average price is $7.13 and its 200-day moving average price is $9.93. The firm has a market capitalization of $612.94 million, a price-to-earnings ratio of -12.21, a price-to-earnings-growth ratio of 0.20 and a beta of 1.31.

Owens & Minor (NYSE:OMI - Get Free Report) last released its quarterly earnings results on Saturday, May 10th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates 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. As a group, equities analysts anticipate that Owens & Minor will post 1.51 earnings per share for the current year.

Owens & Minor announced that its board has approved a stock repurchase 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Activity

In other news, major shareholder Coliseum Capital Management, L acquired 240,000 shares of Owens & Minor stock in a transaction that occurred on Monday, April 7th. The stock was purchased at an average price of $7.84 per share, for a total transaction of $1,881,600.00. Following the purchase, the insider now directly owns 11,152,955 shares in the company, valued at $87,439,167.20. The trade was a 2.20% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders acquired 625,000 shares of company stock worth $4,909,150. 3.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Sterling Capital Management LLC increased its stake in Owens & Minor by 758.3% during the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company's stock valued at $27,000 after purchasing an additional 1,820 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Owens & Minor by 537.6% during the first quarter. Versant Capital Management Inc now owns 3,201 shares of the company's stock worth $29,000 after buying an additional 2,699 shares in the last quarter. Parallel Advisors LLC boosted its holdings in 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 in the last quarter. Quarry LP purchased a new stake in Owens & Minor during the first quarter worth $34,000. Finally, Headlands Technologies LLC purchased a new stake in Owens & Minor during the first quarter worth $55,000. Institutional investors 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.