Owens & Minor (NYSE:OMI) Trading Up 5.1% - Still a Buy?

Owens & Minor, Inc. (NYSE:OMI - Get Free Report) shares traded up 5.1% during mid-day trading on Wednesday . The stock traded as high as $7.84 and last traded at $7.86. 256,410 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,510,019 shares. The stock had previously closed at $7.48.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Robert W. Baird upped their price target on Owens & Minor from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, June 6th. Citigroup cut their price objective on shares of Owens & Minor from $13.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. decreased their target price 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $12.33.

Owens & Minor Trading Up 6.8%

The stock has a market cap of $617.23 million, a price-to-earnings ratio of -1.68, a P/E/G ratio of 0.32 and a beta of 1.31. The business has a 50-day simple moving average of $7.15 and a two-hundred day simple moving average of $9.49. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.41.

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 (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm earned $0.19 earnings per share. Owens & Minor's revenue for the quarter was up .7% on a year-over-year basis. Equities analysts forecast that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

Owens & Minor declared that its Board of Directors has initiated a share buyback program on Friday, February 28th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 13.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L bought 225,000 shares of Owens & Minor stock in a transaction dated 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 acquisition, the insider now owns 11,482,955 shares in the company, valued at $84,859,037.45. This trade represents a 2.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have acquired a total of 625,000 shares of company stock worth $4,909,150 in the last quarter. Corporate insiders own 3.69% of the company's stock.

Institutional Investors Weigh In On Owens & Minor

A number of large investors have recently bought and sold shares of the company. Sterling Capital Management LLC lifted its holdings in shares of Owens & Minor by 758.3% during the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company's stock worth $27,000 after acquiring an additional 1,820 shares during the period. Versant Capital Management Inc raised its position in Owens & Minor by 537.6% during the first quarter. Versant Capital Management Inc now owns 3,201 shares of the company's stock valued at $29,000 after purchasing an additional 2,699 shares in the last quarter. Parallel Advisors LLC lifted its stake 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 purchasing an additional 3,093 shares during the last quarter. Quarry LP acquired a new stake in shares of Owens & Minor in the 1st quarter valued at $34,000. Finally, Blue Trust Inc. boosted its holdings in shares of Owens & Minor by 57.4% in the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company's stock valued at $57,000 after purchasing an additional 1,600 shares in the last quarter. 98.04% of the stock is currently owned by institutional investors and hedge funds.

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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