Owens & Minor (NYSE:OMI) Stock Price Up 2.7% – Still a Buy?

Owens & Minor, Inc. (NYSE:OMI) shot up 2.7% during mid-day trading on Friday . The company traded as high as $8.69 and last traded at $8.73. 377,701 shares changed hands during trading, a decline of 63% from the average session volume of 1,011,352 shares. The stock had previously closed at $8.50.

Wall Street Analyst Weigh In

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

Owens & Minor Trading Up 1.2 %

The firm has a market capitalization of $664.17 million, a price-to-earnings ratio of -13.23, a price-to-earnings-growth ratio of 0.20 and a beta of 0.61. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The business’s fifty day moving average is $9.96 and its 200 day moving average is $12.43.

Owens & Minor (NYSE:OMI) last released its quarterly earnings results on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.68 billion. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. Equities analysts predict that Owens & Minor, Inc. will post 1.51 earnings per share for the current year.

Owens & Minor declared that its board has approved a share 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 an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Owens & Minor

In related news, major shareholder Coliseum Capital Management, L bought 354,901 shares of Owens & Minor stock in a transaction that occurred 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 owns 9,824,599 shares of the company’s stock, valued at approximately $90,288,064.81. This represents a 3.75 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.59% of the company’s stock.

Institutional Investors Weigh In On Owens & Minor

A number of institutional investors have recently made changes to their positions in OMI. Sterling Capital Management LLC lifted its holdings in shares of Owens & Minor by 758.3% during the fourth quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock worth $27,000 after buying an additional 1,820 shares in the last quarter. Blue Trust Inc. boosted its holdings in 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 purchasing an additional 1,600 shares during the period. KBC Group NV grew its position in shares of Owens & Minor by 98.2% during the 4th quarter. KBC Group NV now owns 4,434 shares of the company’s stock worth $58,000 after purchasing an additional 2,197 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Owens & Minor during the fourth quarter worth approximately $140,000. Finally, Guggenheim Capital LLC acquired a new stake in shares of Owens & Minor in the fourth quarter valued at approximately $166,000. Institutional investors own 98.04% of the company’s stock.

About Owens & Minor

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.