Owens & Minor, Inc. (NYSE:OMI - Get Free Report) rose 5.1% during trading on Wednesday . The stock traded as high as $7.84 and last traded at $7.86. Approximately 256,410 shares were traded during trading, a decline of 83% from the average daily volume of 1,510,019 shares. The stock had previously closed at $7.48.
Analysts Set New Price Targets
A number of research analysts recently issued reports 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. lowered their price objective on shares of Owens & Minor from $14.00 to $10.00 and set an "underweight" rating for the company in a research note on Monday, March 10th. Finally, Robert W. Baird lifted their target price on Owens & Minor from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, June 6th. One research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $11.60.
Check Out Our Latest Stock Analysis on OMI
Owens & Minor Trading Up 6.8%
The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.41. The stock has a market cap of $687.37 million, a price-to-earnings ratio of -1.87, a P/E/G ratio of 0.37 and a beta of 1.31. The company's fifty day moving average price is $7.24 and its 200-day moving average price is $9.41.
Owens & Minor (NYSE:OMI - Get Free Report) last issued its earnings results on Saturday, May 10th. The company reported $0.23 EPS for the quarter, beating 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%. The company's revenue was up .7% compared to the same quarter last year. During the same period last year, the company earned $0.19 EPS. On average, research analysts expect that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.
Owens & Minor announced that its board has approved a stock buyback program on Friday, February 28th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 13.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.
Insiders Place Their Bets
In other Owens & Minor news, major shareholder Coliseum Capital Management, L bought 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, with a total value of $1,881,600.00. Following the purchase, the insider now directly owns 11,152,955 shares in the company, valued at $87,439,167.20. This represents a 2.20% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have purchased 625,000 shares of company stock worth $4,909,150. Corporate insiders own 3.69% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in OMI. Coliseum Capital Management LLC increased its position in Owens & Minor by 122.0% during the first quarter. Coliseum Capital Management LLC now owns 10,624,599 shares of the company's stock worth $95,940,000 after purchasing an additional 5,838,635 shares during the last quarter. Vanguard Group Inc. raised its position in 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Owens & Minor by 19.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,752,960 shares of the company's stock worth $24,859,000 after acquiring an additional 447,917 shares in the last quarter. Invesco Ltd. raised its position 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 acquiring an additional 285,060 shares in the last quarter. Finally, Kennedy Capital Management LLC increased its position in Owens & Minor by 15.5% during the fourth quarter. Kennedy Capital Management LLC now owns 1,216,859 shares of the company's stock worth $15,904,000 after buying an additional 163,184 shares during the period. 98.04% of the stock is owned by institutional investors and hedge funds.
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.
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