JPMorgan Chase & Co. Lowers Owens & Minor (NYSE:OMI) Price Target to $18.00

Owens & Minor (NYSE:OMI) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $22.00 to $18.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 14.72% from the stock’s current price.

Several other analysts have also issued reports on the stock. Citigroup upgraded shares of Owens & Minor from a “neutral” rating to a “buy” rating and dropped their target price for the company from $24.00 to $19.00 in a research report on Friday, July 19th. Bank of America reduced their target price on shares of Owens & Minor from $18.00 to $16.00 and set an “underperform” rating on the stock in a research note on Tuesday, June 25th. StockNews.com upgraded Owens & Minor from a “hold” rating to a “buy” rating in a report on Saturday. Robert W. Baird dropped their target price on shares of Owens & Minor from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Finally, Barclays cut their price target on shares of Owens & Minor from $23.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Owens & Minor has a consensus rating of “Hold” and an average price target of $20.00.

Owens & Minor Stock Up 0.4 %

Shares of Owens & Minor stock traded up $0.06 during trading on Wednesday, reaching $15.69. The company’s stock had a trading volume of 56,614 shares, compared to its average volume of 804,012. Owens & Minor has a 1-year low of $12.36 and a 1-year high of $28.35. The company has a 50-day simple moving average of $15.14 and a two-hundred day simple moving average of $19.93. The company has a quick ratio of 0.51, a current ratio of 1.09 and a debt-to-equity ratio of 2.17. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -30.61, a P/E/G ratio of 0.50 and a beta of 0.25.

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

Insider Activity

In related news, Director Mark A. Beck sold 9,344 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $17.25, for a total transaction of $161,184.00. Following the transaction, the director now directly owns 11,154 shares in the company, valued at $192,406.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Alexander J. Bruni sold 10,568 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was 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 directly owns 49,950 shares of the company’s stock, valued at $887,112. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Beck sold 9,344 shares of the business’s stock in a transaction 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 transaction, 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 29,892 shares of company stock worth $521,725 over the last three months. 3.59% of the stock is currently owned by corporate insiders.

Institutional Trading of Owens & Minor

Several hedge funds have recently bought and sold shares of OMI. Riverview Trust Co acquired a new stake in shares of Owens & Minor in the first quarter valued at approximately $25,000. Quarry LP grew its holdings in Owens & Minor by 290.1% in the 2nd quarter. Quarry LP now owns 2,099 shares of the company’s stock worth $28,000 after buying an additional 1,561 shares in the last quarter. Quest Partners LLC acquired a new stake in Owens & Minor in the 4th quarter valued at approximately $41,000. Hexagon Capital Partners LLC increased its holdings in shares of Owens & Minor by 1,240.2% during the first quarter. Hexagon Capital Partners LLC now owns 1,568 shares of the company’s stock valued at $43,000 after purchasing an additional 1,451 shares during the period. Finally, Innealta Capital LLC bought a new stake in shares of Owens & Minor during the 2nd quarter worth about $43,000. 98.04% of the stock is currently owned by institutional investors.

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.