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

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

Several other equities research analysts also recently weighed in on OMI. Barclays cut their price target on Owens & Minor from $23.00 to $18.00 and set an equal weight rating on the stock in a research report on Monday, August 5th. Robert W. Baird cut their price target on 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 cut their price target 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. Finally, Citigroup raised shares of Owens & Minor from a neutral rating to a buy rating and lowered their target price for the stock from $24.00 to $19.00 in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $20.14.

Owens & Minor Price Performance

NYSE OMI opened at $15.04 on Friday. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.16 and a quick ratio of 0.56. The stock’s fifty day moving average price is $15.31 and its 200 day moving average price is $20.10. Owens & Minor has a 1 year low of $12.36 and a 1 year high of $28.35. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -29.49, a PEG ratio of 0.52 and a beta of 0.25.

Owens & Minor (NYSE:OMI) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.65 billion. Owens & Minor had a positive return on equity of 12.97% and a negative net margin of 0.37%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. As a group, equities research analysts forecast that Owens & Minor will post 1.54 earnings per share for the current year.

Insiders Place Their Bets

In other Owens & Minor news, EVP Heath H. Galloway sold 2,031 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $20.18, for a total value of $40,985.58. Following the transaction, the executive vice president now directly owns 56,898 shares of the company’s stock, valued at approximately $1,148,201.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Snehashish Sarkar sold 9,980 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $17.32, for a total transaction of $172,853.60. Following the completion of the sale, the executive vice president now owns 59,137 shares in the company, valued at approximately $1,024,252.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Heath H. Galloway sold 2,031 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $20.18, for a total transaction of $40,985.58. Following the sale, the executive vice president now owns 56,898 shares of the company’s stock, valued at approximately $1,148,201.64. The disclosure for this sale can be found here. Insiders have sold 31,923 shares of company stock valued at $562,711 in the last ninety days. 3.59% of the stock is currently owned by corporate insiders.

Institutional Trading of Owens & Minor

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of 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 last quarter. Dimensional Fund Advisors LP increased its holdings in Owens & Minor by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,534,204 shares of the company’s stock valued at $61,213,000 after purchasing an additional 76,599 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Owens & Minor by 16.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,246,600 shares of the company’s stock valued at $16,829,000 after purchasing an additional 176,250 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Owens & Minor by 4.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 825,142 shares of the company’s stock valued at $15,900,000 after purchasing an additional 38,393 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in Owens & Minor by 11.8% in the 1st quarter. Bridgeway Capital Management LLC now owns 591,174 shares of the company’s stock valued at $16,381,000 after purchasing an additional 62,509 shares during the last quarter. Institutional investors and hedge funds own 98.04% of the company’s stock.

Owens & Minor Company Profile

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.