Owens & Minor (NYSE:OMI) Reaches New 52-Week Low – What’s Next?

Owens & Minor, Inc. (NYSE:OMI)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $11.75 and last traded at $12.52, with a volume of 261694 shares. The stock had previously closed at $13.36.

Analyst Upgrades and Downgrades

Several research firms have commented on OMI. Robert W. Baird decreased their price target on shares of Owens & Minor from $19.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday. UBS Group lowered their target price on shares of Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays reduced their price target on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Citigroup lowered their price objective on Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a research report on Tuesday. Finally, StockNews.com lowered Owens & Minor from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.50.

Owens & Minor Stock Performance

The stock has a market capitalization of $908.24 million, a price-to-earnings ratio of -21.04, a P/E/G ratio of 0.43 and a beta of 0.41. The company has a current ratio of 1.09, a quick ratio of 0.51 and a debt-to-equity ratio of 2.17. The firm has a 50-day moving average of $14.54 and a 200-day moving average of $16.19.

Owens & Minor (NYSE:OMI) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Owens & Minor had a positive return on equity of 14.66% and a negative net margin of 0.40%. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same period in the prior year, the company earned $0.44 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts predict that Owens & Minor, Inc. will post 1.57 earnings per share for the current year.

Institutional Trading of Owens & Minor

Several institutional investors and hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC lifted its position in Owens & Minor by 7.4% during the first quarter. ProShare Advisors LLC now owns 15,021 shares of the company’s stock valued at $416,000 after purchasing an additional 1,029 shares during the period. Texas Permanent School Fund Corp lifted its holdings in shares of Owens & Minor by 1.8% in the 1st quarter. Texas Permanent School Fund Corp now owns 66,953 shares of the company’s stock valued at $1,855,000 after buying an additional 1,156 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of Owens & Minor by 76.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company’s stock valued at $43,000 after buying an additional 1,356 shares during the period. Arizona State Retirement System boosted its stake in shares of Owens & Minor by 7.7% in the second quarter. Arizona State Retirement System now owns 20,371 shares of the company’s stock worth $275,000 after buying an additional 1,449 shares during the last quarter. Finally, Quarry LP grew its holdings in Owens & Minor by 290.1% during the second quarter. Quarry LP now owns 2,099 shares of the company’s stock worth $28,000 after acquiring an additional 1,561 shares during the period. 98.04% of the stock is currently owned by institutional investors and hedge funds.

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.