Owens & Minor (NYSE:OMI) Shares Down 5.3% Following Insider Selling

Owens & Minor, Inc. (NYSE:OMI)’s share price dropped 5.3% on Tuesday following insider selling activity. The company traded as low as $12.86 and last traded at $12.92. Approximately 116,678 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 822,495 shares. The stock had previously closed at $13.65.

Specifically, CFO Jonathan A. Leon sold 5,282 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $11.82, for a total transaction of $62,433.24. Following the completion of the transaction, the chief financial officer now owns 130,822 shares of the company’s stock, valued at approximately $1,546,316.04. This trade represents a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

OMI has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price target on Owens & Minor from $22.00 to $18.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 21st. Robert W. Baird cut their target price on Owens & Minor from $19.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. StockNews.com lowered Owens & Minor from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. 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 research report on Tuesday, November 5th. Finally, Citigroup decreased their target price on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Owens & Minor presently has a consensus rating of “Hold” and a consensus target price of $18.50.

Owens & Minor Price Performance

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 firm has a market cap of $1.03 billion, a P/E ratio of -20.45, a P/E/G ratio of 0.47 and a beta of 0.41. The firm’s fifty day simple moving average is $13.65 and its 200 day simple moving average is $15.09.

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

Hedge Funds Weigh In On Owens & Minor

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Owens & Minor by 1.9% in the first quarter. Vanguard Group Inc. now owns 8,749,866 shares of the company’s stock worth $242,459,000 after buying an additional 162,182 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of 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 acquiring an additional 51,955 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its stake in shares of Owens & Minor by 30.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 6,371,440 shares of the company’s stock worth $86,014,000 after purchasing an additional 1,493,852 shares during the period. Renaissance Technologies LLC grew its holdings in Owens & Minor by 16.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,246,600 shares of the company’s stock valued at $16,829,000 after purchasing an additional 176,250 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Owens & Minor by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,534,204 shares of the company’s stock valued at $61,213,000 after purchasing an additional 76,599 shares during the last quarter. Institutional investors own 98.04% of the company’s stock.

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.