JPMorgan Chase & Co. Trims Owens & Minor (NYSE:OMI) Target Price to $18.00

Owens & Minor (NYSE:OMI) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $22.00 to $18.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 14.72% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. Bank of America dropped their target price on shares of Owens & Minor from $18.00 to $16.00 and set an “underperform” rating on the stock in a report on Tuesday, June 25th. Barclays dropped their price objective on Owens & Minor from $23.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Citigroup raised Owens & Minor from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $24.00 to $19.00 in a research note on Friday, July 19th. StockNews.com upgraded Owens & Minor from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Robert W. Baird cut their price target on Owens & Minor from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.00.

Owens & Minor Trading Up 0.4 %

Shares of OMI stock traded up $0.06 during trading hours on Wednesday, hitting $15.69. 56,614 shares of the company’s stock traded hands, compared to its average volume of 804,012. The stock has a market cap of $1.21 billion, a PE ratio of -30.61, a price-to-earnings-growth ratio of 0.50 and a beta of 0.25. The stock’s 50 day simple moving average is $15.14 and its 200 day simple moving average is $19.93. The company has a quick ratio of 0.51, a current ratio of 1.09 and a debt-to-equity ratio of 2.17. Owens & Minor has a 12 month low of $12.36 and a 12 month high of $28.35.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings data 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. Owens & Minor had a positive return on equity of 14.66% and a negative net margin of 0.40%. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the prior year, the business posted $0.18 earnings per share. Owens & Minor’s quarterly revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts anticipate that Owens & Minor will post 1.57 EPS for the current year.

Insider Activity

In related news, 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 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related 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 owns 49,950 shares of the company’s stock, valued at approximately $887,112. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Snehashish Sarkar sold 9,980 shares of Owens & Minor 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 transaction, the executive vice president now owns 59,137 shares of the company’s stock, valued at approximately $1,024,252.84. The disclosure for this sale can be found here. Insiders sold a total of 29,892 shares of company stock worth $521,725 over the last quarter. 3.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Owens & Minor

Large investors have recently bought and sold shares of the stock. Riverview Trust Co bought a new stake in shares of Owens & Minor in the 1st quarter worth $25,000. Quarry LP grew its position in Owens & Minor by 290.1% in the 2nd quarter. Quarry LP now owns 2,099 shares of the company’s stock worth $28,000 after purchasing an additional 1,561 shares in the last quarter. Quest Partners LLC bought a new stake in Owens & Minor in the 4th quarter worth about $41,000. Hexagon Capital Partners LLC increased its stake 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 buying an additional 1,451 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Owens & Minor during the 2nd quarter worth approximately $43,000. 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.