Owens & Minor (NYSE:OMI) Raised to “Buy” at Citigroup

Citigroup upgraded shares of Owens & Minor (NYSE:OMI) from a neutral rating to a buy rating in a research note issued to investors on Friday morning, Marketbeat Ratings reports. The firm currently has $19.00 target price on the stock, down from their previous target price of $24.00.

A number of other analysts also recently weighed in on OMI. StockNews.com downgraded shares of Owens & Minor from a buy rating to a hold rating in a report on Thursday, May 23rd. Robert W. Baird dropped their price objective on shares of Owens & Minor from $20.00 to $19.00 and set a neutral rating for the company in a research note on Tuesday, July 16th. Finally, Bank of America dropped their price objective on shares of Owens & Minor from $18.00 to $16.00 and set an underperform rating for the company in a research note on Tuesday, June 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $20.63.

Owens & Minor Trading Up 1.4 %

Shares of NYSE:OMI opened at $14.82 on Friday. The company’s 50 day moving average price is $16.10 and its two-hundred day moving average price is $20.51. Owens & Minor has a 12-month low of $12.36 and a 12-month high of $28.35. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.56 and a current ratio of 1.16.

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

Insider Activity

In other news, Director Mark A. Beck sold 9,344 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $17.25, for a total transaction of $161,184.00. Following the completion of the transaction, the director now owns 11,154 shares of the company’s stock, valued at $192,406.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Mark A. Beck sold 9,344 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $17.25, for a total transaction of $161,184.00. Following the completion of the sale, the director now directly owns 11,154 shares in the company, valued at $192,406.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Alexander J. Bruni sold 10,568 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $17.76, for a total transaction of $187,687.68. Following the sale, the chief financial officer now owns 49,950 shares of the company’s stock, valued at $887,112. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,923 shares of company stock valued at $562,711. Insiders own 3.59% of the company’s stock.

Institutional Investors Weigh In On Owens & Minor

Large investors have recently bought and sold shares of the stock. Riverview Trust Co acquired a new stake in Owens & Minor in the first quarter worth $25,000. Hexagon Capital Partners LLC grew its holdings in Owens & Minor by 1,240.2% in the first quarter. Hexagon Capital Partners LLC now owns 1,568 shares of the company’s stock worth $43,000 after purchasing an additional 1,451 shares during the period. GAMMA Investing LLC grew its holdings in Owens & Minor by 52.1% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the company’s stock worth $46,000 after purchasing an additional 563 shares during the period. Quest Partners LLC acquired a new stake in Owens & Minor in the fourth quarter worth $41,000. Finally, Quarry LP grew its holdings in Owens & Minor by 38.8% in the fourth quarter. Quarry LP now owns 2,573 shares of the company’s stock worth $50,000 after purchasing an additional 719 shares during the period. 98.04% of the stock is currently owned by institutional investors and hedge funds.

Owens & Minor Company Profile

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.