Robert W. Baird Lowers Owens & Minor (NYSE:OMI) Price Target to $20.00

Owens & Minor (NYSE:OMI) had its price target cut by equities researchers at Robert W. Baird from $24.00 to $20.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 37.27% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Citigroup increased their price objective on shares of Owens & Minor from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 30th. SVB Leerink initiated coverage on shares of Owens & Minor in a research note on Monday, February 26th. They set a “market perform” rating and a $24.00 price target on the stock. Leerink Partnrs restated a “market perform” rating on shares of Owens & Minor in a research note on Monday, February 26th. StockNews.com downgraded Owens & Minor from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, TheStreet raised Owens & Minor from a “d+” rating to a “c-” rating in a report on Monday, March 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.88.

Owens & Minor Stock Performance

Shares of OMI stock opened at $14.57 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 1.16 and a debt-to-equity ratio of 2.17. The company has a 50 day moving average price of $19.14 and a 200-day moving average price of $21.35. Owens & Minor has a 52 week low of $13.36 and a 52 week high of $28.35. The firm has a market capitalization of $1.11 billion, a PE ratio of -28.57, a P/E/G ratio of 0.50 and a beta of 0.33.

Owens & Minor (NYSE:OMI) last posted its earnings results on Friday, May 3rd. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.61 billion. Owens & Minor had a negative net margin of 0.37% and a positive return on equity of 12.97%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. As a group, equities research analysts expect that Owens & Minor will post 1.53 earnings per share for the current year.

Insider Activity

In other Owens & Minor news, CFO Alexander J. Bruni sold 10,568 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $17.76, for a total value of $187,687.68. Following the sale, the chief financial officer now owns 49,950 shares in the company, valued at approximately $887,112. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Owens & Minor news, CFO Alexander J. Bruni sold 10,568 shares of Owens & Minor stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $17.76, for a total value of $187,687.68. Following the sale, the chief financial officer now owns 49,950 shares of the company’s stock, valued at approximately $887,112. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Heath H. Galloway sold 2,031 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $20.18, for a total value of $40,985.58. Following the sale, the executive vice president now directly owns 56,898 shares in the company, valued at $1,148,201.64. The disclosure for this sale can be found here. Insiders have sold a total of 36,923 shares of company stock worth $686,911 over the last quarter. Insiders own 3.59% of the company’s stock.

Hedge Funds Weigh In On Owens & Minor

A number of institutional investors and hedge funds have recently made changes to their positions in OMI. Charles Schwab Investment Management Inc. increased its stake in Owens & Minor by 8.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 786,749 shares of the company’s stock worth $12,714,000 after acquiring an additional 59,128 shares during the last quarter. Rhumbline Advisers increased its position in shares of Owens & Minor by 0.3% during the 3rd quarter. Rhumbline Advisers now owns 247,846 shares of the company’s stock valued at $4,005,000 after purchasing an additional 660 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Owens & Minor during the 3rd quarter valued at $29,000. Invesco Ltd. raised its holdings in Owens & Minor by 12.0% during the 3rd quarter. Invesco Ltd. now owns 1,081,460 shares of the company’s stock valued at $17,476,000 after buying an additional 115,995 shares during the period. Finally, Federated Hermes Inc. lifted its position in Owens & Minor by 19.7% in the third quarter. Federated Hermes Inc. now owns 399,083 shares of the company’s stock worth $6,449,000 after buying an additional 65,757 shares during the last quarter. 98.04% of the stock is owned by hedge funds and other institutional investors.

About Owens & Minor

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.