Owens & Minor, Inc. (NYSE:OMI) Given Average Recommendation of “Hold” by Analysts

Shares of Owens & Minor, Inc. (NYSE:OMI) have been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $12.50.

OMI has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Owens & Minor from $14.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, March 10th. Robert W. Baird boosted their price target on Owens & Minor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Citigroup lowered their price objective on shares of Owens & Minor from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, 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 research report on Thursday, February 13th.

Insider Activity at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L acquired 354,901 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $9.19 per share, for a total transaction of $3,261,540.19. Following the transaction, the insider now directly owns 9,824,599 shares of the company’s stock, valued at approximately $90,288,064.81. This trade represents a 3.75 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders purchased 2,718,412 shares of company stock worth $24,495,308. 3.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of OMI. Inspire Advisors LLC lifted its position in shares of Owens & Minor by 11.2% in the fourth quarter. Inspire Advisors LLC now owns 15,350 shares of the company’s stock valued at $201,000 after acquiring an additional 1,548 shares in the last quarter. Blue Trust Inc. lifted its holdings in 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Owens & Minor by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,930 shares of the company’s stock worth $561,000 after purchasing an additional 1,662 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Owens & Minor by 758.3% in the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock worth $27,000 after purchasing an additional 1,820 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Owens & Minor by 0.9% during the fourth quarter. Legal & General Group Plc now owns 212,061 shares of the company’s stock valued at $2,772,000 after purchasing an additional 1,991 shares in the last quarter. Institutional investors own 98.04% of the company’s stock.

Owens & Minor Stock Performance

Shares of NYSE OMI opened at $6.98 on Friday. The firm’s 50-day moving average price is $8.18 and its 200-day moving average price is $11.30. Owens & Minor has a 52-week low of $6.07 and a 52-week high of $25.60. The company has a market cap of $539.24 million, a PE ratio of -10.74, a PEG ratio of 0.20 and a beta of 1.02. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11.

Owens & Minor (NYSE:OMI) last issued 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 company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $0.69 earnings per share. As a group, analysts anticipate that Owens & Minor will post 1.51 EPS for the current year.

Owens & Minor declared that its board has authorized a share buyback plan on Friday, February 28th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.