Owens & Minor (NYSE:OMI) Shares Down 4.3% - Time to Sell?

Owens & Minor, Inc. (NYSE:OMI - Get Free Report)'s share price was down 4.3% on Thursday . The stock traded as low as $9.18 and last traded at $8.89. Approximately 606,312 shares changed hands 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.

Analyst Ratings Changes

OMI has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced 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 report on Monday, March 10th. Robert W. Baird boosted their target price on shares of Owens & Minor from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, June 6th. Finally, Citigroup reduced their target price on Owens & Minor from $13.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $11.60.

Owens & Minor Stock Down 1.7%

The company has a quick ratio of 0.41, a current ratio of 1.13 and a debt-to-equity ratio of 3.32. The firm has a market capitalization of $705.34 million, a PE ratio of -1.92, a price-to-earnings-growth ratio of 0.40 and a beta of 1.40. The business's 50-day moving average price is $7.49 and its 200-day moving average price is $9.22.

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

Insiders Place Their Bets

In other news, major shareholder Coliseum Capital Management, L purchased 240,000 shares of Owens & Minor stock in a transaction dated Monday, April 7th. The stock was acquired at an average cost of $7.84 per share, for a total transaction of $1,881,600.00. Following the acquisition, the insider directly owned 11,152,955 shares in the company, valued at $87,439,167.20. This represents a 2.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Owens & Minor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its stake in shares of Owens & Minor by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 576,799 shares of the company's stock worth $5,208,000 after purchasing an additional 175,866 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Owens & Minor by 39.9% in the first quarter. Voya Investment Management LLC now owns 93,067 shares of the company's stock worth $840,000 after purchasing an additional 26,550 shares in the last quarter. Inspire Investing LLC increased its position in Owens & Minor by 32.0% during the first quarter. Inspire Investing LLC now owns 44,270 shares of the company's stock worth $400,000 after buying an additional 10,744 shares during the last quarter. Strs Ohio bought a new position in Owens & Minor during the first quarter valued at about $537,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Owens & Minor in the first quarter worth about $91,000. 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.