Shares of Owens & Minor, Inc. (NYSE:OMI - Get Free Report) dropped 4.3% during mid-day trading on Thursday . The stock traded as low as $9.18 and last traded at $8.89. Approximately 606,312 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 1,188,562 shares. The stock had previously closed at $9.29.
Wall Street Analyst Weigh In
Several equities research analysts have commented on OMI shares. 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 note on Thursday, April 17th. JPMorgan Chase & Co. dropped their price target 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. Finally, Robert W. Baird raised their price objective on Owens & Minor from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Owens & Minor currently has a consensus rating of "Hold" and an average target price of $11.60.
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Owens & Minor Price Performance
The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.41 and a current ratio of 1.13. The stock's 50 day simple moving average is $7.41 and its two-hundred day simple moving average is $9.30. The firm has a market capitalization of $705.34 million, a PE ratio of -1.92, a price-to-earnings-growth ratio of 0.41 and a beta of 1.40.
Owens & Minor (NYSE:OMI - Get Free Report) last released its quarterly earnings data on Saturday, May 10th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates 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 quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the company earned $0.19 EPS. On average, sell-side analysts forecast that Owens & Minor, Inc. will post 1.51 EPS for the current year.
Insider Transactions at Owens & Minor
In other news, major shareholder Coliseum Capital Management, L bought 225,000 shares of Owens & Minor stock in a transaction on Wednesday, April 9th. The shares were bought at an average cost of $7.39 per share, with a total value of $1,662,750.00. Following the completion of the purchase, the insider directly owned 11,482,955 shares of the company's stock, valued at approximately $84,859,037.45. This trade represents a 2.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.69% of the company's stock.
Institutional Trading of Owens & Minor
Hedge funds and other institutional investors have recently made changes to their positions in the company. Coliseum Capital Management LLC lifted its holdings in Owens & Minor by 122.0% in the first quarter. Coliseum Capital Management LLC now owns 10,624,599 shares of the company's stock valued at $95,940,000 after acquiring an additional 5,838,635 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Owens & Minor by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 9,156,759 shares of the company's stock valued at $82,686,000 after purchasing an additional 241,003 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Owens & Minor by 19.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,752,960 shares of the company's stock valued at $24,859,000 after purchasing an additional 447,917 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Owens & Minor by 19.9% during the 1st quarter. Invesco Ltd. now owns 1,716,895 shares of the company's stock worth $15,504,000 after purchasing an additional 285,060 shares during the period. Finally, Kennedy Capital Management LLC grew its holdings in shares of Owens & Minor by 15.5% during the 4th quarter. Kennedy Capital Management LLC now owns 1,216,859 shares of the company's stock worth $15,904,000 after purchasing an additional 163,184 shares during the period. Institutional investors and hedge funds own 98.04% of the company's stock.
Owens & Minor Company Profile
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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.
Further Reading
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