Owens & Minor (NYSE:OMI) Shares Down 6% - Here's Why

Key Points

• Owens & Minor's stock dropped 6% to a trading price of $6.48, significantly below its previous close of $6.90, with trading volume down by 97% from the average.
• Analysts have mixed ratings for the stock, with one sell rating, three holds, and two buys, while the average price target stands at $11.60.
• The company reported earnings of $0.23 per share, exceeding estimates, as its revenue increased by 0.7% year-over-year.

Owens & Minor, Inc. (NYSE:OMI - Get Free Report)'s share price dropped 6% during trading on Tuesday . The stock traded as low as $6.50 and last traded at $6.48. Approximately 43,926 shares were traded during trading, a decline of 97% from the average daily volume of 1,430,715 shares. The stock had previously closed at $6.90.

Analyst Ratings Changes

OMI has been the topic of several recent research reports. Robert W. Baird increased their price objective on Owens & Minor from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, June 6th. Baird R W upgraded Owens & Minor from a "hold" rating to a "strong-buy" rating in a research report on Friday. Finally, Citigroup reduced their price objective on Owens & Minor from $13.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $11.60.

Owens & Minor Price Performance

The company has a market capitalization of $545.39 million, a PE ratio of -1.49, a PEG ratio of 0.31 and a beta of 1.04. The firm has a fifty day moving average of $7.80 and a two-hundred day moving average of $8.18. The company has a current ratio of 1.13, a quick ratio of 0.41 and a debt-to-equity ratio of 3.32.

Owens & Minor (NYSE:OMI - Get Free Report) last issued its earnings results on Saturday, May 10th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate 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 revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Research analysts anticipate that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Owens & Minor

Several institutional investors have recently bought and sold shares of OMI. DekaBank Deutsche Girozentrale lifted its holdings in Owens & Minor by 76.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company's stock worth $28,000 after buying an additional 1,356 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Owens & Minor by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,930 shares of the company's stock worth $561,000 after buying an additional 1,662 shares during the period. Sterling Capital Management LLC lifted its holdings in Owens & Minor by 758.3% in the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company's stock worth $27,000 after buying an additional 1,820 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Owens & Minor by 25.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,660 shares of the company's stock worth $88,000 after buying an additional 1,932 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Owens & Minor by 0.9% in the 4th quarter. Legal & General Group Plc now owns 212,061 shares of the company's stock worth $2,772,000 after buying an additional 1,991 shares during the period. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

About Owens & Minor

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.