Weiss Ratings Reiterates "Sell (E+)" Rating for Owens & Minor (NYSE:OMI)

Key Points

• Weiss Ratings has reiterated a "Sell (E+)" rating for Owens & Minor (NYSE:OMI), with additional analysts also lowering price targets for the stock.
• Owens & Minor recently reported a quarterly earnings miss, with a loss of $0.01 per share against a consensus estimate and a revenue of $681.90 million, significantly below analyst expectations.
• Insider buying increased with Coliseum Capital Management purchasing 720,000 shares, reflecting a growing confidence among major stakeholders, while 98.04% of stock is held by institutional investors.

Owens & Minor (NYSE:OMI - Get Free Report)'s stock had its "sell (e+)" rating reissued by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. cut their price objective on Owens & Minor from $7.00 to $6.00 and set an "underweight" rating on the stock in a report on Wednesday, August 27th. Robert W. Baird cut their price objective on Owens & Minor from $10.00 to $7.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Bank of America cut their price objective on Owens & Minor from $7.50 to $4.75 and set an "underperform" rating on the stock in a report on Tuesday, August 12th. Baird R W raised Owens & Minor from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Finally, UBS Group set a $7.00 price objective on Owens & Minor in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Owens & Minor currently has an average rating of "Hold" and an average target price of $7.63.

Owens & Minor Price Performance

Shares of OMI traded up $0.10 during midday trading on Wednesday, hitting $4.82. The company's stock had a trading volume of 82,993 shares, compared to its average volume of 1,681,023. Owens & Minor has a one year low of $4.56 and a one year high of $15.54. The company's fifty day simple moving average is $5.37 and its two-hundred day simple moving average is $6.87. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 3.32. The stock has a market capitalization of $371.99 million, a price-to-earnings ratio of -0.31 and a beta of 1.26.

Owens & Minor (NYSE:OMI - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). Owens & Minor had a negative net margin of 13.78% and a positive return on equity of 26.59%. The firm had revenue of $681.90 million for the quarter, compared to analyst estimates of $2.73 billion. During the same period last year, the business earned $0.36 EPS. The company's revenue was up 3.3% compared to the same quarter last year. Owens & Minor has set its FY 2025 guidance at 1.020-1.070 EPS. As a group, equities analysts expect that Owens & Minor will post 1.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Owens & Minor news, major shareholder Coliseum Capital Management, L acquired 720,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were bought at an average cost of $5.15 per share, with a total value of $3,708,000.00. Following the purchase, the insider directly owned 12,282,955 shares of the company's stock, valued at $63,257,218.25. This trade represents a 6.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders bought 1,537,852 shares of company stock worth $8,099,544. 3.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale lifted its stake in shares of Owens & Minor by 76.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company's stock valued at $28,000 after purchasing an additional 1,356 shares during the period. Quarry LP acquired a new position in shares of Owens & Minor in the 1st quarter valued at about $34,000. Headlands Technologies LLC acquired a new position in shares of Owens & Minor in the 1st quarter valued at about $55,000. Raymond James Financial Inc. acquired a new position in shares of Owens & Minor in the 2nd quarter valued at about $56,000. Finally, Blue Trust Inc. lifted its stake in shares of Owens & Minor by 52.2% in the 2nd quarter. Blue Trust Inc. now owns 6,709 shares of the company's stock valued at $61,000 after purchasing an additional 2,302 shares during the period. 98.04% of the stock is 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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