Owens & Minor (NYSE:OMI) Price Target Raised to $11.00

Owens & Minor (NYSE:OMI) had its price objective upped by Robert W. Baird from $10.00 to $11.00 in a report released on Monday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also recently weighed in on OMI. UBS Group decreased their price target on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Barclays decreased their price target 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. Finally, Citigroup lowered their price target on Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Owens & Minor currently has an average rating of “Hold” and an average price target of $15.08.

Owens & Minor Price Performance

Owens & Minor stock opened at $9.73 on Monday. Owens & Minor has a 12 month low of $6.07 and a 12 month high of $28.35. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11. The business’s 50 day simple moving average is $11.32 and its 200 day simple moving average is $13.11. The company has a market cap of $751.23 million, a price-to-earnings ratio of -14.96, a PEG ratio of 0.20 and a beta of 0.61.

Owens & Minor (NYSE:OMI) last posted its earnings results on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.68 billion. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.69 earnings per share. Sell-side analysts forecast that Owens & Minor will post 1.51 EPS for the current year.

Owens & Minor declared that its board has approved a stock buyback program on Friday, February 28th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Owens & Minor

In other Owens & Minor news, major shareholder Coliseum Capital Management, L purchased 354,901 shares of Owens & Minor stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $9.19 per share, for a total transaction of $3,261,540.19. Following the acquisition, the insider now directly owns 9,824,599 shares in the company, valued at approximately $90,288,064.81. This trade represents a 3.75 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.59% of the company’s stock.

Institutional Trading of Owens & Minor

Large investors have recently bought and sold shares of the company. Sterling Capital Management LLC boosted its position in Owens & Minor by 758.3% during the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock valued at $27,000 after acquiring an additional 1,820 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Owens & Minor by 57.4% in the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock worth $57,000 after purchasing an additional 1,600 shares in the last quarter. KBC Group NV boosted its position in shares of Owens & Minor by 98.2% in the 4th quarter. KBC Group NV now owns 4,434 shares of the company’s stock worth $58,000 after purchasing an additional 2,197 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Owens & Minor in the 4th quarter worth approximately $140,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Owens & Minor by 844.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 9,016 shares of the company’s stock worth $141,000 after purchasing an additional 8,061 shares in the last quarter. 98.04% of the stock is owned by institutional investors.

Owens & Minor Company Profile

Owens & Minor, Inc is a healthcare solutions company, which engages in the product manufacturing and delivery, home health supply, and perioperative services to support care through the hospital and into the home. It operates through the Products and Healthcare Services, and Patient Direct segments.