StockNews.com Downgrades Owens & Minor (NYSE:OMI) to Hold

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

OMI has been the subject of a number of other reports. Barclays lowered their price target on shares of Owens & Minor from $23.00 to $18.00 and set an equal weight rating for the company in a report on Monday, August 5th. Bank of America lowered their price target on shares of Owens & Minor from $18.00 to $16.00 and set an underperform rating for the company in a report on Tuesday, June 25th. Citigroup raised shares of Owens & Minor from a neutral rating to a buy rating and decreased their price objective for the stock from $24.00 to $19.00 in a report on Friday, July 19th. Finally, Robert W. Baird decreased 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. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Owens & Minor currently has a consensus rating of Hold and a consensus price target of $20.14.

Owens & Minor Price Performance

Owens & Minor stock opened at $15.04 on Friday. The firm has a fifty day moving average of $15.31 and a 200-day moving average of $20.10. The firm has a market capitalization of $1.15 billion, a P/E ratio of -29.49, a PEG ratio of 0.52 and a beta of 0.25. Owens & Minor has a 52-week low of $12.36 and a 52-week high of $28.35. The company has a quick ratio of 0.56, a current ratio of 1.16 and a debt-to-equity ratio of 2.17.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Riverview Trust Co bought a new stake in Owens & Minor in the 1st quarter valued at about $25,000. Quest Partners LLC bought a new stake in Owens & Minor in the 4th quarter valued at about $41,000. Hexagon Capital Partners LLC lifted its position in Owens & Minor by 1,240.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,568 shares of the company’s stock valued at $43,000 after purchasing an additional 1,451 shares during the last quarter. Innealta Capital LLC bought a new stake in Owens & Minor in the 2nd quarter valued at about $43,000. Finally, DekaBank Deutsche Girozentrale lifted its position in Owens & Minor by 76.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company’s stock valued at $43,000 after purchasing an additional 1,356 shares during the last quarter. 98.04% of the stock is currently owned by 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.