Owens & Minor (NYSE:OMI) Shares Up 9.3% – What’s Next?

Owens & Minor, Inc. (NYSE:OMI)’s share price was up 9.3% during trading on Monday . The company traded as high as $13.58 and last traded at $13.50. Approximately 215,771 shares were traded during trading, a decline of 74% from the average daily volume of 822,156 shares. The stock had previously closed at $12.35.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OMI. UBS Group cut their price target on Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. JPMorgan Chase & Co. dropped their price objective on shares of Owens & Minor from $22.00 to $18.00 and set an “underweight” rating for the company in a research note on Wednesday, August 21st. Robert W. Baird decreased their price target on Owens & Minor from $19.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Citigroup reduced their target price on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, StockNews.com downgraded shares of Owens & Minor from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.50.

Owens & Minor Stock Up 10.6 %

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 company has a fifty day simple moving average of $13.75 and a two-hundred day simple moving average of $15.16. The firm has a market capitalization of $1.05 billion, a PE ratio of -20.46, a PEG ratio of 0.43 and a beta of 0.41.

Owens & Minor (NYSE:OMI) last issued its earnings results 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. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the prior year, the business earned $0.44 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts forecast that Owens & Minor, Inc. will post 1.49 EPS for the current fiscal year.

Insiders Place Their Bets

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 value of $62,433.24. Following the completion of the transaction, the chief financial officer now directly owns 130,822 shares in the company, valued at approximately $1,546,316.04. The trade was a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On Owens & Minor

Hedge funds and other institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its position in shares of Owens & Minor by 76.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company’s stock valued at $43,000 after purchasing an additional 1,356 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Owens & Minor by 7.7% in the second quarter. Arizona State Retirement System now owns 20,371 shares of the company’s stock worth $275,000 after buying an additional 1,449 shares during the last quarter. Quarry LP lifted its stake in shares of Owens & Minor by 290.1% during the second quarter. Quarry LP now owns 2,099 shares of the company’s stock worth $28,000 after buying an additional 1,561 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Owens & Minor by 11.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,364 shares of the company’s stock valued at $207,000 after buying an additional 1,630 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Owens & Minor by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,366 shares of the company’s stock valued at $491,000 after acquiring an additional 1,709 shares during the period. Hedge funds and other 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.