Owens & Minor (NYSE:OMI) Given New $10.00 Price Target at JPMorgan Chase & Co.

Owens & Minor (NYSE:OMI) had its price objective dropped by JPMorgan Chase & Co. from $14.00 to $10.00 in a report issued on Monday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 3.04% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Robert W. Baird boosted their target price on Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. UBS Group cut their target price on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.75.

Owens & Minor Stock Down 3.0 %

NYSE OMI traded down $0.30 during mid-day trading on Monday, reaching $9.71. The stock had a trading volume of 361,104 shares, compared to its average volume of 940,398. Owens & Minor has a 1 year low of $6.07 and a 1 year high of $28.35. The company has a fifty day moving average price of $11.20 and a 200 day moving average price of $13.01. The stock has a market cap of $749.68 million, a PE ratio of -14.93, a price-to-earnings-growth ratio of 0.20 and a beta of 0.61. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45.

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

Owens & Minor announced that its Board of Directors has authorized a stock repurchase program on Friday, February 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at Owens & Minor

In related news, major shareholder Coliseum Capital Management, L acquired 354,901 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $9.19 per share, for a total transaction of $3,261,540.19. Following the purchase, the insider now directly owns 9,824,599 shares of the company’s stock, valued at $90,288,064.81. This trade represents a 3.75 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 3.59% of the stock is owned by company insiders.

Hedge Funds Weigh In On Owens & Minor

Several institutional investors and hedge funds have recently bought and sold shares of OMI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Owens & Minor by 29.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 219,761 shares of the company’s stock valued at $2,872,000 after purchasing an additional 50,184 shares during the last quarter. Voloridge Investment Management LLC raised its holdings in shares of Owens & Minor by 24.2% in the fourth quarter. Voloridge Investment Management LLC now owns 243,525 shares of the company’s stock worth $3,183,000 after buying an additional 47,459 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Owens & Minor during the fourth quarter worth $381,000. State of Wyoming grew its holdings in shares of Owens & Minor by 35.3% during the fourth quarter. State of Wyoming now owns 23,198 shares of the company’s stock valued at $303,000 after buying an additional 6,050 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Owens & Minor by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 22,702 shares of the company’s stock valued at $297,000 after acquiring an additional 6,996 shares during the period. 98.04% of the stock is owned by hedge funds and other institutional investors.

About Owens & Minor

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.