Owens & Minor (NYSE:OMI) Sees Large Volume Increase – Still a Buy?

Shares of Owens & Minor, Inc. (NYSE:OMI) saw an uptick in trading volume on Tuesday . 779,489 shares were traded during trading, an increase of 3% from the previous session’s volume of 759,456 shares.The stock last traded at $8.95 and had previously closed at $9.23.

Analyst Ratings Changes

OMI has been the topic of a number of analyst reports. Robert W. Baird cut their target price on Owens & Minor from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday. Citigroup cut their price objective 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. Barclays cut 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, UBS Group decreased their price objective on Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.50.

Owens & Minor Stock Down 0.4 %

The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. The business’s fifty day moving average price is $13.77 and its two-hundred day moving average price is $14.28. The stock has a market capitalization of $709.10 million, a PE ratio of -14.18, a price-to-earnings-growth ratio of 0.40 and a beta of 0.48.

Owens & Minor (NYSE:OMI) last announced its earnings results on Monday, November 4th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. The business 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 company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 earnings per share. On average, equities research analysts forecast that Owens & Minor, Inc. will post 1.49 EPS for the current fiscal year.

Insider Activity at Owens & Minor

In other news, CFO Jonathan A. Leon sold 5,282 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $11.82, for a total value of $62,433.24. Following the completion of the sale, the chief financial officer now owns 130,822 shares of the company’s stock, valued at $1,546,316.04. This represents a 3.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.62% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Owens & Minor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP raised its stake in shares of Owens & Minor by 290.1% in the second quarter. Quarry LP now owns 2,099 shares of the company’s stock valued at $28,000 after acquiring an additional 1,561 shares in the last quarter. Blue Trust Inc. increased its holdings 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 acquiring an additional 1,780 shares during the period. KBC Group NV boosted its stake in shares of Owens & Minor by 98.2% during the fourth quarter. KBC Group NV now owns 4,434 shares of the company’s stock worth $58,000 after buying an additional 2,197 shares during the period. Meeder Asset Management Inc. raised its stake in Owens & Minor by 844.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 9,016 shares of the company’s stock valued at $141,000 after acquiring an additional 8,061 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Owens & Minor by 38.4% during the second quarter. Marshall Wace LLP now owns 11,100 shares of the company’s stock worth $150,000 after purchasing an additional 3,077 shares during the last quarter. Institutional investors and hedge funds 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.