Owens & Minor (NYSE:OMI) Stock Price Down 4.4% – What’s Next?

Owens & Minor, Inc. (NYSE:OMI)’s stock price dropped 4.4% on Thursday . The stock traded as low as $9.73 and last traded at $9.65. Approximately 241,165 shares changed hands during trading, a decline of 85% from the average daily volume of 1,603,606 shares. The stock had previously closed at $10.09.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OMI. Robert W. Baird increased their price objective on Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. reduced their price target on shares of Owens & Minor from $14.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, March 10th. Finally, UBS Group lowered their price objective on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.75.

Owens & Minor Price Performance

The company has a market capitalization of $742.73 million, a PE ratio of -14.75, a P/E/G ratio of 0.20 and a beta of 0.61. 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 50 day moving average price of $10.62 and a two-hundred day moving average price of $12.68.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Friday, February 28th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.68 billion. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 earnings per share. Equities analysts forecast that Owens & Minor, Inc. will post 1.51 earnings per share for the current year.

Owens & Minor announced that its board has initiated a stock repurchase plan on Friday, February 28th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 13.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, major shareholder Coliseum Capital Management, L bought 354,901 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $9.19 per share, with a total value of $3,261,540.19. Following the completion of the transaction, the insider now directly owns 9,824,599 shares of the company’s stock, valued at $90,288,064.81. This trade represents a 3.75 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.59% of the stock is currently owned by corporate insiders.

Institutional Trading of Owens & Minor

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC grew its stake in Owens & Minor by 0.8% in the 3rd quarter. FMR LLC now owns 11,564,624 shares of the company’s stock valued at $181,449,000 after buying an additional 90,862 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Owens & Minor by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,915,756 shares of the company’s stock valued at $116,529,000 after purchasing an additional 107,092 shares during the last quarter. Coliseum Capital Management LLC grew its position in shares of Owens & Minor by 31.3% in the fourth quarter. Coliseum Capital Management LLC now owns 4,785,964 shares of the company’s stock valued at $62,553,000 after purchasing an additional 1,141,483 shares during the last quarter. State Street Corp lifted its position in shares of Owens & Minor by 2.6% during the 3rd quarter. State Street Corp now owns 3,064,547 shares of the company’s stock worth $48,083,000 after purchasing an additional 78,985 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Owens & Minor by 13.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company’s stock valued at $30,127,000 after purchasing an additional 276,807 shares during the period. 98.04% of the stock is currently owned by institutional investors and hedge funds.

Owens & Minor Company Profile

Owens & Minor, Inc is a healthcare solutions company, which engages in the product manufacturing and delivery, home health supply, and perioperative services to support care through the hospital and into the home. It operates through the Products and Healthcare Services, and Patient Direct segments.