Owens & Minor (NYSE:OMI) Trading Up 4.8% – Here’s What Happened

Owens & Minor, Inc. (NYSE:OMI) was up 4.8% during mid-day trading on Wednesday . The company traded as high as $14.57 and last traded at $14.51. Approximately 250,040 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 414,249 shares. The stock had previously closed at $13.84.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. UBS Group cut their price objective on Owens & Minor from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Robert W. Baird reduced their price objective on Owens & Minor from $19.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Finally, Citigroup cut their price target on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Owens & Minor has an average rating of “Hold” and a consensus target price of $18.50.

Owens & Minor Trading Up 3.9 %

The firm has a market cap of $1.11 billion, a PE ratio of -22.12, a price-to-earnings-growth ratio of 0.48 and a beta of 0.46. The company has a 50-day simple moving average of $13.11 and a 200 day simple moving average of $14.20. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11.

Owens & Minor (NYSE:OMI) last released its quarterly earnings results on Monday, November 4th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.41 by $0.01. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.68 billion. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business earned $0.44 earnings per share. As a group, sell-side analysts forecast that Owens & Minor, Inc. will post 1.49 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Jonathan A. Leon sold 5,282 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $11.82, for a total value of $62,433.24. Following the transaction, the chief financial officer now owns 130,822 shares of the company’s stock, valued at approximately $1,546,316.04. The trade was a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.59% of the company’s stock.

Institutional Trading of Owens & Minor

A number of institutional investors have recently added to or reduced their stakes in OMI. DekaBank Deutsche Girozentrale lifted its stake in shares of Owens & Minor by 76.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company’s stock worth $43,000 after purchasing an additional 1,356 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Owens & Minor by 7.7% in the 2nd quarter. Arizona State Retirement System now owns 20,371 shares of the company’s stock worth $275,000 after acquiring an additional 1,449 shares during the last quarter. Quarry LP grew its holdings in shares of Owens & Minor by 290.1% during the second quarter. Quarry LP now owns 2,099 shares of the company’s stock valued at $28,000 after buying an additional 1,561 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Owens & Minor by 4.9% during the second quarter. The Manufacturers Life Insurance Company now owns 36,366 shares of the company’s stock worth $491,000 after acquiring an additional 1,709 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Owens & Minor by 176.8% in the 3rd quarter. Blue Trust Inc. now owns 2,787 shares of the company’s stock valued at $44,000 after buying an additional 1,780 shares in the last quarter. Hedge funds and other institutional investors own 98.04% of the company’s stock.

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.