Owens & Minor (NYSE:OMI) Trading Down 7.4% – Here’s What Happened

by · The Cerbat Gem

Owens & Minor, Inc. (NYSE:OMI – Get Free Report)’s share price fell 7.4% during mid-day trading on Wednesday . The company traded as low as $7.14 and last traded at $7.20. 1,205,452 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 1,583,515 shares. The stock had previously closed at $7.77.

Analyst Ratings Changes

Several equities research analysts have commented on the company. UBS Group cut their target price on Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. reduced their target price on shares of Owens & Minor from $14.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, March 10th. Finally, Robert W. Baird lifted their price target on shares of Owens & Minor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.75.

Check Out Our Latest Stock Report on Owens & Minor

Owens & Minor Price Performance

The stock has a market capitalization of $533.00 million, a P/E ratio of -10.62, a price-to-earnings-growth ratio of 0.20 and a beta of 1.02. 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 company’s 50-day simple moving average is $8.44 and its 200-day simple moving average is $11.79.

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

Owens & Minor declared that its Board of Directors has approved a stock buyback program on Friday, February 28th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 13.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, major shareholder Coliseum Capital Management, L bought 1,738,511 shares of Owens & Minor stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $9.39 per share, with a total value of $16,324,618.29. Following the acquisition, the insider now owns 9,469,698 shares of the company’s stock, valued at approximately $88,920,464.22. This represents a 22.49 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have acquired 2,718,412 shares of company stock valued at $24,495,308. 2.62% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OMI. Inspire Advisors LLC boosted its stake in Owens & Minor by 11.2% in the 4th quarter. Inspire Advisors LLC now owns 15,350 shares of the company’s stock valued at $201,000 after purchasing an additional 1,548 shares during the period. Blue Trust Inc. grew its stake in shares of Owens & Minor by 57.4% in the fourth quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock valued at $57,000 after acquiring an additional 1,600 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Owens & Minor by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,930 shares of the company’s stock worth $561,000 after acquiring an additional 1,662 shares during the period. Sterling Capital Management LLC raised its stake in Owens & Minor by 758.3% in the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock worth $27,000 after purchasing an additional 1,820 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Owens & Minor by 0.9% in the 4th quarter. Legal & General Group Plc now owns 212,061 shares of the company’s stock valued at $2,772,000 after purchasing an additional 1,991 shares during the period. 98.04% of the stock is owned by institutional investors.

Owens & Minor Company Profile

(Get Free Report)

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.

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