Owens & Minor (NYSE:OMI) Shares Up 4.4% – Time to Buy?

Owens & Minor, Inc. (NYSE:OMI) shares were up 4.4% during mid-day trading on Tuesday . The stock traded as high as $13.26 and last traded at $13.22. Approximately 236,128 shares traded hands during trading, a decline of 71% from the average daily volume of 800,605 shares. The stock had previously closed at $12.66.

Wall Street Analysts Forecast Growth

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

Owens & Minor Price Performance

The company has a fifty day moving average price of $13.12 and a two-hundred day moving average price of $14.33. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11. The firm has a market cap of $1.01 billion, a P/E ratio of -20.14, a PEG ratio of 0.48 and a beta of 0.42.

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

Insider Activity at Owens & Minor

In other Owens & Minor news, CFO Jonathan A. Leon sold 5,282 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $11.82, for a total transaction of $62,433.24. Following the sale, the chief financial officer now directly owns 130,822 shares of the company’s stock, valued at $1,546,316.04. The trade was a 3.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 3.59% of the stock is owned by insiders.

Hedge Funds Weigh In On Owens & Minor

Several hedge funds and other institutional investors have recently made changes to their positions in OMI. Quarry LP increased its holdings in shares of Owens & Minor by 290.1% during the 2nd quarter. Quarry LP now owns 2,099 shares of the company’s stock worth $28,000 after acquiring an additional 1,561 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Owens & Minor by 76.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company’s stock worth $43,000 after purchasing an additional 1,356 shares during the period. Blue Trust Inc. increased its holdings in shares of Owens & Minor by 176.8% in the third quarter. Blue Trust Inc. now owns 2,787 shares of the company’s stock valued at $44,000 after purchasing an additional 1,780 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Owens & Minor by 100.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 6,071 shares of the company’s stock valued at $82,000 after purchasing an additional 3,044 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Owens & Minor during the 2nd quarter worth about $82,000. 98.04% of the stock is owned by institutional investors.

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.