Owens & Minor (NYSE:OMI) Trading Down 6% on Analyst Downgrade

Owens & Minor, Inc. (NYSE:OMI) fell 6% during trading on Thursday after UBS Group lowered their price target on the stock from $25.00 to $13.00. UBS Group currently has a buy rating on the stock. Owens & Minor traded as low as $7.69 and last traded at $7.70. 943,408 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 1,001,335 shares. The stock had previously closed at $8.19.

OMI has been the subject of several other reports. Citigroup lowered their price target on Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a report on Tuesday, November 5th. Barclays lowered their price target on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Finally, Robert W. Baird lowered their price target on Owens & Minor from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Owens & Minor has an average rating of “Hold” and a consensus price target of $16.79.

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 stock was sold at an average price of $11.82, for a total transaction of $62,433.24. Following the transaction, the chief financial officer now owns 130,822 shares in the company, valued at approximately $1,546,316.04. This trade represents a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.59% of the company’s stock.

Hedge Funds Weigh In On Owens & Minor

A number of large investors have recently made changes to their positions in the company. Blue Trust Inc. boosted 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 purchasing an additional 1,780 shares in the last quarter. KBC Group NV boosted its holdings in shares of Owens & Minor by 98.2% during the 4th quarter. KBC Group NV now owns 4,434 shares of the company’s stock valued at $58,000 after acquiring an additional 2,197 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in Owens & Minor by 844.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 9,016 shares of the company’s stock worth $141,000 after buying an additional 8,061 shares during the period. Inspire Advisors LLC lifted its holdings in Owens & Minor by 11.2% during the 4th quarter. Inspire Advisors LLC now owns 15,350 shares of the company’s stock worth $201,000 after buying an additional 1,548 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Owens & Minor during the 4th quarter worth about $256,000. Institutional investors own 98.04% of the company’s stock.

Owens & Minor Stock Performance

The company has a 50-day moving average price of $13.05 and a two-hundred day moving average price of $13.95. 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 stock has a market capitalization of $599.84 million, a P/E ratio of -11.90, a price-to-earnings-growth ratio of 0.25 and a beta of 0.48.

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.