Owens & Minor (NYSE:OMI) Trading Up 3.8% on Analyst Upgrade

Owens & Minor, Inc. (NYSE:OMI) shares rose 3.8% during mid-day trading on Tuesday after Robert W. Baird raised their price target on the stock from $10.00 to $11.00. Robert W. Baird currently has a neutral rating on the stock. Owens & Minor traded as high as $9.63 and last traded at $9.68. Approximately 433,222 shares were traded during trading, a decline of 73% from the average daily volume of 1,623,577 shares. The stock had previously closed at $9.32.

Several other equities analysts have also recently commented on the stock. Barclays reduced their price objective on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Citigroup lowered their price objective on Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, UBS Group reduced their target price on Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company 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 currently has a consensus rating of “Hold” and a consensus price target of $15.08.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Owens & Minor by 29.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 219,761 shares of the company’s stock worth $2,872,000 after acquiring an additional 50,184 shares during the last quarter. Voloridge Investment Management LLC increased its stake in shares of Owens & Minor by 24.2% in the fourth quarter. Voloridge Investment Management LLC now owns 243,525 shares of the company’s stock worth $3,183,000 after buying an additional 47,459 shares during the period. Squarepoint Ops LLC bought a new stake in Owens & Minor during the 4th quarter valued at $381,000. State of Wyoming grew its holdings in Owens & Minor by 35.3% in the 4th quarter. State of Wyoming now owns 23,198 shares of the company’s stock worth $303,000 after acquiring an additional 6,050 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Owens & Minor by 44.5% in the fourth quarter. ProShare Advisors LLC now owns 22,702 shares of the company’s stock valued at $297,000 after acquiring an additional 6,996 shares during the period. 98.04% of the stock is currently owned by institutional investors.

Owens & Minor Trading Up 4.0 %

The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. The stock has a market capitalization of $747.57 million, a P/E ratio of -14.81, a P/E/G ratio of 0.20 and a beta of 0.48. The firm’s 50 day moving average price is $11.44 and its 200 day moving average price is $13.18.

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, topping analysts’ consensus estimates 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 positive return on equity of 14.60% and a negative net margin of 0.46%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.69 EPS. As a group, equities research analysts expect that Owens & Minor, Inc. will post 1.51 earnings per share for the current fiscal year.

Owens & Minor announced that its Board of Directors has authorized a share repurchase 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 a sign that the company’s management believes its stock is undervalued.

About Owens & Minor

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.