Owens & Minor (NYSE:OMI) Stock Price Down 9.6%

Owens & Minor, Inc. (NYSE:OMI)’s stock price fell 9.6% during trading on Monday . The stock traded as low as $14.61 and last traded at $14.65. 836,496 shares traded hands during mid-day trading, an increase of 5% from the average session volume of 797,885 shares. The stock had previously closed at $16.20.

Analyst Upgrades and Downgrades

OMI has been the topic of several recent research reports. StockNews.com raised Owens & Minor from a “hold” rating to a “buy” rating in a report on Thursday. 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 report on Tuesday, July 16th. Bank of America dropped their price target 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. Finally, Citigroup upgraded shares of Owens & Minor from a “neutral” rating to a “buy” rating and cut their price target for the stock from $24.00 to $19.00 in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.63.

Owens & Minor Trading Down 8.2 %

The company has a current ratio of 1.16, a quick ratio of 0.56 and a debt-to-equity ratio of 2.17. The company has a market cap of $1.14 billion, a price-to-earnings ratio of -29.16, a P/E/G ratio of 0.52 and a beta of 0.25. The firm’s 50-day moving average price is $15.54 and its 200 day moving average price is $20.25.

Owens & Minor (NYSE:OMI) last issued its earnings results on Friday, August 2nd. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.65 billion. Owens & Minor had a positive return on equity of 12.97% and a negative net margin of 0.37%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the business posted $0.18 EPS. As a group, equities analysts expect that Owens & Minor, Inc. will post 1.54 EPS for the current year.

Insider Activity at Owens & Minor

In related news, EVP Snehashish Sarkar sold 9,980 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $17.32, for a total value of $172,853.60. Following the sale, the executive vice president now owns 59,137 shares in the company, valued at approximately $1,024,252.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Owens & Minor news, EVP Snehashish Sarkar sold 9,980 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $17.32, for a total transaction of $172,853.60. Following the transaction, the executive vice president now directly owns 59,137 shares in the company, valued at approximately $1,024,252.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Heath H. Galloway sold 2,031 shares of the company’s stock in a transaction on 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 sale, 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 sold 31,923 shares of company stock valued at $562,711. 3.59% of the stock is owned by company insiders.

Institutional Investors Weigh In On Owens & Minor

Several large investors have recently made changes to their positions in the business. Cerity Partners LLC boosted its stake in Owens & Minor by 3.5% in the fourth quarter. Cerity Partners LLC now owns 101,390 shares of the company’s stock valued at $1,954,000 after acquiring an additional 3,383 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Owens & Minor during the fourth quarter valued at $738,000. Illinois Municipal Retirement Fund purchased a new stake in Owens & Minor in the fourth quarter worth $785,000. Linden Thomas Advisory Services LLC raised its stake in shares of Owens & Minor by 26.9% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 13,905 shares of the company’s stock valued at $268,000 after buying an additional 2,944 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Owens & Minor by 1.8% during the 4th quarter. Russell Investments Group Ltd. now owns 185,117 shares of the company’s stock valued at $3,568,000 after buying an additional 3,258 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.