Owens & Minor (NYSE:OMI) Trading 2.7% Higher – What’s Next?

Owens & Minor, Inc. (NYSE:OMI)’s share price rose 2.7% during trading on Friday . The company traded as high as $8.69 and last traded at $8.73. Approximately 377,701 shares traded hands during trading, a decline of 63% from the average daily volume of 1,011,352 shares. The stock had previously closed at $8.50.

Wall Street Analyst Weigh In

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

Owens & Minor Stock Up 1.2 %

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 company’s 50-day moving average price is $9.84 and its 200 day moving average price is $12.37. The stock has a market capitalization of $664.17 million, a P/E ratio of -13.23, a P/E/G ratio of 0.20 and a beta of 0.61.

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

Owens & Minor declared that its board has authorized a stock buyback plan on Friday, February 28th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 13.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L acquired 354,901 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $9.19 per share, with a total value of $3,261,540.19. Following the completion of the purchase, the insider now directly owns 9,824,599 shares in the company, valued at approximately $90,288,064.81. This trade represents a 3.75 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.59% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Owens & Minor

Several hedge funds and other institutional investors have recently modified their holdings of the business. Coliseum Capital Management LLC grew its position in Owens & Minor by 31.3% in the 4th quarter. Coliseum Capital Management LLC now owns 4,785,964 shares of the company’s stock valued at $62,553,000 after acquiring an additional 1,141,483 shares during the last quarter. Freestone Grove Partners LP bought a new stake in shares of Owens & Minor during the fourth quarter valued at approximately $5,125,000. Charles Schwab Investment Management Inc. grew its stake in Owens & Minor by 13.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company’s stock worth $30,127,000 after purchasing an additional 276,807 shares in the last quarter. Deutsche Bank AG grew its stake in Owens & Minor by 77.0% in the fourth quarter. Deutsche Bank AG now owns 495,111 shares of the company’s stock worth $6,471,000 after purchasing an additional 215,455 shares in the last quarter. Finally, Norges Bank purchased a new position in Owens & Minor during the 4th quarter worth $2,465,000. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

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.