Owens & Minor (NYSE:OMI) Rating Increased to Buy at Citigroup

Owens & Minor (NYSE:OMI) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Friday, Marketbeat.com reports. The brokerage presently has a $19.00 price target on the stock, down from their previous price target of $24.00. Citigroup’s target price points to a potential upside of 28.21% from the stock’s current price.

OMI has been the subject of several other research reports. StockNews.com cut shares of Owens & Minor from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Robert W. Baird dropped their price objective on shares of Owens & Minor from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Finally, Bank of America decreased their price objective on Owens & Minor from $18.00 to $16.00 and set an “underperform” rating on the stock in a research report on Tuesday, June 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.63.

Owens & Minor Stock Up 1.4 %

OMI opened at $14.82 on Friday. Owens & Minor has a twelve month low of $12.36 and a twelve month high of $28.35. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -29.06, a PEG ratio of 0.47 and a beta of 0.25. The firm’s 50-day simple moving average is $16.10 and its 200-day simple moving average is $20.50. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.56 and a current ratio of 1.16.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. Owens & Minor had a negative net margin of 0.37% and a positive return on equity of 12.97%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the business posted $0.05 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. Equities research analysts anticipate that Owens & Minor will post 1.53 EPS for the current fiscal year.

Insider Activity

In related news, Director Mark A. Beck sold 9,344 shares of Owens & Minor stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $17.25, for a total transaction of $161,184.00. Following the completion of the sale, the director now directly owns 11,154 shares of the company’s stock, valued at $192,406.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Alexander J. Bruni sold 10,568 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $17.76, for a total transaction of $187,687.68. Following the completion of the transaction, the chief financial officer now owns 49,950 shares in the company, valued at $887,112. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Beck sold 9,344 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $17.25, for a total transaction of $161,184.00. Following the completion of the sale, the director now directly owns 11,154 shares of the company’s stock, valued at approximately $192,406.50. The disclosure for this sale can be found here. Insiders have sold a total of 36,923 shares of company stock valued at $686,911 in the last 90 days. 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 made changes to their positions in the company. Vanguard Group Inc. raised its stake in Owens & Minor by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 8,749,866 shares of the company’s stock worth $242,459,000 after buying an additional 162,182 shares during the period. Dimensional Fund Advisors LP increased its holdings 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 acquiring an additional 327,002 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Owens & Minor by 4.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 825,142 shares of the company’s stock worth $15,900,000 after purchasing an additional 38,393 shares during the period. Bridgeway Capital Management LLC raised its position in shares of Owens & Minor by 11.8% during the first quarter. Bridgeway Capital Management LLC now owns 591,174 shares of the company’s stock worth $16,381,000 after purchasing an additional 62,509 shares during the period. Finally, Epoch Investment Partners Inc. lifted its holdings in shares of Owens & Minor by 27.2% during the 1st quarter. Epoch Investment Partners Inc. now owns 530,434 shares of the company’s stock valued at $14,698,000 after purchasing an additional 113,587 shares in 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.