StockNews.com Downgrades Owens & Minor (NYSE:OMI) to Hold

StockNews.com lowered shares of Owens & Minor (NYSE:OMI) from a buy rating to a hold rating in a research report sent to investors on Monday.

A number of other research analysts have also issued reports on OMI. Citigroup upgraded Owens & Minor from a neutral rating to a buy rating and reduced their price target for the stock from $24.00 to $19.00 in a research report on Friday, July 19th. Barclays decreased their target price on shares of Owens & Minor from $23.00 to $18.00 and set an equal weight rating for the company in a research report on Monday, August 5th. Robert W. Baird dropped their price target on shares of Owens & Minor from $20.00 to $19.00 and set a neutral rating on the stock in a research report on Tuesday, July 16th. Bank of America reduced their price target on shares of Owens & Minor from $18.00 to $16.00 and set an underperform rating for the company in a research note on Tuesday, June 25th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Owens & Minor from $22.00 to $18.00 and set an underweight rating on the stock in a research note on Wednesday, August 21st. 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. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $20.00.

Owens & Minor Stock Up 0.1 %

Owens & Minor stock opened at $15.90 on Monday. The firm has a market capitalization of $1.22 billion, a P/E ratio of -31.18, a P/E/G ratio of 0.50 and a beta of 0.25. The company has a 50-day simple moving average of $15.01 and a 200-day simple moving average of $19.73. Owens & Minor has a one year low of $12.36 and a one year high of $28.35. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.51 and a current ratio of 1.09.

Owens & Minor (NYSE:OMI) last posted its earnings results on Friday, August 2nd. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. The firm had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Owens & Minor had a negative net margin of 0.40% and a positive return on equity of 14.66%. Owens & Minor’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. As a group, equities analysts expect that Owens & Minor will post 1.57 earnings per share for the current year.

Insider Activity at Owens & Minor

In other Owens & Minor news, Director Mark A. Beck sold 9,344 shares of Owens & Minor stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $17.25, for a total value of $161,184.00. Following the transaction, the director now owns 11,154 shares in the company, valued at $192,406.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Owens & Minor news, EVP Snehashish Sarkar sold 9,980 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $17.32, for a total transaction of $172,853.60. Following the sale, the executive vice president now owns 59,137 shares in the company, valued at approximately $1,024,252.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark A. Beck sold 9,344 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $17.25, for a total transaction of $161,184.00. Following the sale, the director now directly owns 11,154 shares of the company’s stock, valued at $192,406.50. The disclosure for this sale can be found here. Insiders sold a total of 29,892 shares of company stock valued at $521,725 over the last ninety days. Insiders own 3.59% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Deerfield Management Company L.P. Series C boosted its stake in Owens & Minor by 30.6% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 6,371,440 shares of the company’s stock worth $86,014,000 after purchasing an additional 1,493,852 shares during the period. Norges Bank acquired a new stake in shares of Owens & Minor in the fourth quarter worth $9,160,000. Dimensional Fund Advisors LP boosted its position in shares of Owens & Minor by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,210,991 shares of the company’s stock worth $81,148,000 after buying an additional 327,002 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Owens & Minor by 16.5% during the second quarter. Renaissance Technologies LLC now owns 1,246,600 shares of the company’s stock valued at $16,829,000 after buying an additional 176,250 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Owens & Minor during the first quarter valued at $4,683,000. 98.04% of the stock is owned by hedge funds and other 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.