Owens & Minor (NYSE:OMI) Trading Up 10.5% - Here's Why

Key Points

• Owens & Minor's stock price increased by 10.5% on Friday, reaching a high of $6.98, despite a decline in trading volume by 30% from average levels.
• Analysts have varied opinions on the stock, with a majority rating it as "Hold" and an average target price of $11.60, down from Citigroup's previous target of $13.00.
• The company recently reported a quarterly EPS of $0.23, exceeding analyst expectations, with revenue increasing by 0.7% year-over-year.

Owens & Minor, Inc. (NYSE:OMI - Get Free Report)'s share price traded up 10.5% on Friday . The company traded as high as $6.98 and last traded at $6.98. 1,005,564 shares were traded during trading, a decline of 30% from the average session volume of 1,439,967 shares. The stock had previously closed at $6.31.

Analyst Ratings Changes

OMI has been the subject of several research analyst reports. Citigroup dropped their price target 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. Robert W. Baird upped their price objective on Owens & Minor from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, June 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Owens & Minor has an average rating of "Hold" and an average target price of $11.60.

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 has a market capitalization of $545.39 million, a price-to-earnings ratio of -1.49, a price-to-earnings-growth ratio of 0.28 and a beta of 1.04. The business's 50 day simple moving average is $7.79 and its 200-day simple moving average is $8.28.

Owens & Minor (NYSE:OMI - Get Free Report) last issued its quarterly earnings data on Saturday, May 10th. The company reported $0.23 earnings per share for the quarter, beating 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%. The company's revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 EPS. Research analysts anticipate that Owens & Minor, Inc. will post 1.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OMI. Allspring Global Investments Holdings LLC grew its position in Owens & Minor by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 45,360 shares of the company's stock worth $410,000 after purchasing an additional 15,898 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Owens & Minor by 713.4% in the first quarter. GAMMA Investing LLC now owns 9,265 shares of the company's stock worth $84,000 after buying an additional 8,126 shares during the period. Cetera Investment Advisers purchased a new position in shares of Owens & Minor during the fourth quarter valued at $140,000. Coliseum Capital Management LLC raised its position in Owens & Minor by 31.3% during the fourth quarter. Coliseum Capital Management LLC now owns 4,785,964 shares of the company's stock valued at $62,553,000 after buying an additional 1,141,483 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 acquiring an additional 1,662 shares in the last quarter. Institutional investors own 98.04% of the company's stock.

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.

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