Robert W. Baird Issues Positive Forecast for Owens & Minor (NYSE:OMI) Stock Price

Owens & Minor (NYSE:OMI) had its price target raised by Robert W. Baird from $10.00 to $11.00 in a research report released on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also weighed in on OMI. 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 research note on Tuesday, November 5th. UBS Group reduced their price objective on Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Barclays reduced their price objective on 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.08.

Owens & Minor Price Performance

Shares of NYSE OMI opened at $9.73 on Monday. Owens & Minor has a twelve month low of $6.07 and a twelve month high of $28.35. The firm has a market cap of $751.23 million, a P/E ratio of -14.96, a PEG ratio of 0.20 and a beta of 0.61. The company has a 50 day moving average of $11.32 and a 200 day moving average of $13.11. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11.

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

Owens & Minor declared that its Board of Directors has authorized a stock repurchase program on Friday, February 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 13.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, major shareholder Coliseum Capital Management, L acquired 354,901 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $9.19 per share, with a total value of $3,261,540.19. Following the acquisition, the insider now directly owns 9,824,599 shares of the company’s stock, valued at approximately $90,288,064.81. This trade represents a 3.75 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 3.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sterling Capital Management LLC lifted its holdings in shares of Owens & Minor by 758.3% in the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock valued at $27,000 after acquiring an additional 1,820 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Owens & Minor by 57.4% in the 4th 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 during the last quarter. KBC Group NV lifted its holdings in shares of Owens & Minor by 98.2% in the 4th quarter. KBC Group NV now owns 4,434 shares of the company’s stock valued at $58,000 after acquiring an additional 2,197 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of Owens & Minor in the 4th quarter valued at about $140,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Owens & Minor by 844.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 9,016 shares of the company’s stock valued at $141,000 after acquiring an additional 8,061 shares during the last quarter. Institutional investors own 98.04% of the company’s stock.

Owens & Minor Company Profile

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.