StockNews.com Upgrades Owens & Minor (NYSE:OMI) to Buy

StockNews.com upgraded shares of Owens & Minor (NYSE:OMI) from a hold rating to a buy rating in a research note released on Thursday morning.

OMI has been the topic of several other reports. Robert W. Baird cut their price target on shares of Owens & Minor from $20.00 to $19.00 and set a neutral rating on the stock in a report on Tuesday, July 16th. Bank of America decreased their price target on Owens & Minor from $18.00 to $16.00 and set an underperform rating for the company in a research note on Tuesday, June 25th. Finally, Citigroup upgraded Owens & Minor from a neutral rating to a buy rating and cut their price objective for the company from $24.00 to $19.00 in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $20.63.

Owens & Minor Stock Performance

Shares of OMI stock opened at $16.20 on Thursday. The company’s fifty day moving average price is $15.59 and its two-hundred day moving average price is $20.28. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.16 and a quick ratio of 0.56. The firm has a market capitalization of $1.24 billion, a P/E ratio of -31.76, a P/E/G ratio of 0.52 and a beta of 0.25. Owens & Minor has a 12 month low of $12.36 and a 12 month high of $28.35.

Owens & Minor (NYSE:OMI) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. Owens & Minor had a positive return on equity of 12.97% and a negative net margin of 0.37%. The business had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. On average, research analysts anticipate that Owens & Minor will post 1.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Alexander J. Bruni sold 10,568 shares of the company’s 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 completion of the transaction, the chief financial officer now directly owns 49,950 shares in the company, valued at approximately $887,112. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Alexander J. Bruni sold 10,568 shares of Owens & Minor stock in a transaction dated 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 directly owns 49,950 shares in the company, valued at approximately $887,112. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Heath H. Galloway sold 2,031 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $20.18, for a total transaction of $40,985.58. Following the completion of the transaction, the executive vice president now owns 56,898 shares of the company’s stock, valued at approximately $1,148,201.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,923 shares of company stock valued at $562,711. Insiders own 3.59% of the company’s stock.

Institutional Trading of Owens & Minor

Large investors have recently added to or reduced their stakes in the business. Privium Fund Management UK Ltd bought a new position in shares of Owens & Minor in the second quarter worth $257,000. Wolverine Asset Management LLC raised its stake in shares of Owens & Minor by 7.8% during the second quarter. Wolverine Asset Management LLC now owns 137,430 shares of the company’s stock valued at $1,855,000 after purchasing an additional 10,000 shares in the last quarter. Moloney Securities Asset Management LLC acquired a new stake in Owens & Minor in the second quarter worth about $713,000. Innealta Capital LLC bought a new position in Owens & Minor in the 2nd quarter valued at about $43,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Owens & Minor by 11.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,364 shares of the company’s stock valued at $207,000 after buying an additional 1,630 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.