Owens & Minor (NYSE:OMI) Shares Gap Up on Strong Earnings

Shares of Owens & Minor, Inc. (NYSE:OMI) gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $6.89, but opened at $7.74. Owens & Minor shares last traded at $8.70, with a volume of 1,150,280 shares changing hands.

The company reported $0.55 earnings per share 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 company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the previous year, the business earned $0.69 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on OMI shares. Barclays cut their price objective on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. UBS Group dropped their price objective on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Citigroup cut their target price 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, Robert W. Baird decreased their price target on Owens & Minor from $14.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Owens & Minor presently has a consensus rating of “Hold” and an average price target of $14.92.

Institutional Investors Weigh In On Owens & Minor

A number of institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC lifted its holdings in shares of Owens & Minor by 758.3% during the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock worth $27,000 after acquiring an additional 1,820 shares during the period. Blue Trust Inc. grew its position in shares of Owens & Minor by 176.8% in the 3rd quarter. Blue Trust Inc. now owns 2,787 shares of the company’s stock valued at $44,000 after buying an additional 1,780 shares during the last quarter. KBC Group NV lifted its position in shares of Owens & Minor by 98.2% in the 4th quarter. KBC Group NV now owns 4,434 shares of the company’s stock worth $58,000 after purchasing an additional 2,197 shares during the period. Meeder Asset Management Inc. lifted its holdings in Owens & Minor by 844.1% in the third quarter. Meeder Asset Management Inc. now owns 9,016 shares of the company’s stock valued at $141,000 after buying an additional 8,061 shares during the period. Finally, Cetera Investment Advisers bought a new stake in shares of Owens & Minor during the 4th quarter valued at about $140,000. Institutional investors own 98.04% of the company’s stock.

Owens & Minor Stock Performance

The firm has a market capitalization of $720.89 million, a P/E ratio of -14.10, a P/E/G ratio of 0.20 and a beta of 0.48. The stock has a fifty day simple moving average of $11.57 and a two-hundred day simple moving average of $13.30. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45.

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.