Owens & Minor (NYSE:OMI) Sets New 12-Month Low – Time to Sell?

Owens & Minor, Inc. (NYSE:OMI) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $10.74 and last traded at $10.89, with a volume of 743336 shares changing hands. The stock had previously closed at $14.24.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on OMI shares. Robert W. Baird reduced their price target on shares of Owens & Minor from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday. UBS Group reduced 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 report on Tuesday, November 5th. Citigroup dropped their price objective on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Barclays lowered their target price on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.50.

Owens & Minor Stock Down 1.0 %

The business has a 50-day moving average of $13.69 and a 200-day moving average of $14.24. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.45 and a current ratio of 1.09. The stock has a market capitalization of $704.71 million, a price-to-earnings ratio of -14.06, a P/E/G ratio of 0.40 and a beta of 0.48.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The firm 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 business posted $0.44 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, sell-side analysts expect that Owens & Minor, Inc. will post 1.49 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Jonathan A. Leon sold 5,282 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $11.82, for a total transaction of $62,433.24. Following the sale, the chief financial officer now directly owns 130,822 shares of the company’s stock, valued at $1,546,316.04. This represents a 3.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.62% of the stock is owned by insiders.

Hedge Funds Weigh In On Owens & Minor

Several institutional investors have recently modified their holdings of the business. Foundry Partners LLC acquired a new stake in shares of Owens & Minor in the 3rd quarter valued at $5,238,000. Charles Schwab Investment Management Inc. raised its stake in Owens & Minor by 10.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,028,236 shares of the company’s stock valued at $31,823,000 after buying an additional 187,079 shares in the last quarter. Algert Global LLC boosted its position in shares of Owens & Minor by 189.4% during the 3rd quarter. Algert Global LLC now owns 276,438 shares of the company’s stock worth $4,337,000 after acquiring an additional 180,922 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Owens & Minor by 374.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 223,074 shares of the company’s stock valued at $3,500,000 after acquiring an additional 176,029 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Owens & Minor by 68.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 376,830 shares of the company’s stock worth $5,912,000 after acquiring an additional 152,999 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.