Owens & Minor (NYSE:OMI) Trading Up 4.8% – Here’s What Happened

Owens & Minor, Inc. (NYSE:OMI)’s stock price traded up 4.8% on Wednesday . The company traded as high as $14.57 and last traded at $14.51. 250,040 shares were traded during mid-day trading, a decline of 40% from the average session volume of 414,249 shares. The stock had previously closed at $13.84.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Robert W. Baird cut their target price on shares of Owens & Minor from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. UBS Group cut their price objective on shares of Owens & Minor from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Barclays dropped their target price on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Finally, Citigroup reduced their price target on Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.50.

Owens & Minor Price Performance

The stock has a 50-day moving average price of $13.17 and a two-hundred day moving average price of $14.21. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -21.42, a PEG ratio of 0.48 and a beta of 0.46. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter last year, the company earned $0.44 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities research analysts forecast that Owens & Minor, Inc. will post 1.49 EPS for the current year.

Insider Buying and Selling at Owens & Minor

In related news, CFO Jonathan A. Leon sold 5,282 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $11.82, for a total value of $62,433.24. Following the sale, the chief financial officer now owns 130,822 shares in the company, valued at $1,546,316.04. This represents a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.59% of the stock is currently owned by company insiders.

Institutional Trading of Owens & Minor

Several hedge funds and other institutional investors have recently bought and sold shares of OMI. Royce & Associates LP boosted its position in Owens & Minor by 179.4% in the 3rd quarter. Royce & Associates LP now owns 80,914 shares of the company’s stock worth $1,270,000 after purchasing an additional 51,955 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its holdings in Owens & Minor by 30.6% during the second quarter. Deerfield Management Company L.P. Series C now owns 6,371,440 shares of the company’s stock worth $86,014,000 after buying an additional 1,493,852 shares in the last quarter. Renaissance Technologies LLC grew its position in Owens & Minor by 16.5% during the second quarter. Renaissance Technologies LLC now owns 1,246,600 shares of the company’s stock valued at $16,829,000 after buying an additional 176,250 shares during the period. Dimensional Fund Advisors LP increased its holdings in Owens & Minor by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,534,204 shares of the company’s stock valued at $61,213,000 after buying an additional 76,599 shares in the last quarter. Finally, FMR LLC raised its position in shares of Owens & Minor by 0.8% in the third quarter. FMR LLC now owns 11,564,624 shares of the company’s stock worth $181,449,000 after acquiring an additional 90,862 shares during the period. 98.04% of the stock is owned by institutional investors and hedge funds.

Owens & Minor Company Profile

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.