Owens & Minor, Inc. (NYSE:OMI) Given Average Rating of "Hold" by Brokerages

Owens & Minor, Inc. (NYSE:OMI - Get Free Report) has been assigned a consensus rating of "Hold" from the six ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $13.75.

Several research firms have recently weighed in on OMI. UBS Group dropped their price objective on shares of Owens & Minor from $25.00 to $13.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Robert W. Baird raised their price target on Owens & Minor from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on Owens & Minor from $14.00 to $10.00 and set an "underweight" rating on the stock in a research note on Monday, March 10th.

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 on Monday, March 3rd. The shares were purchased at an average price of $9.19 per share, for a total transaction of $3,261,540.19. Following the completion of the acquisition, the insider now owns 9,824,599 shares in the company, valued at approximately $90,288,064.81. This represents a 3.75 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.59% of the company's stock.

Hedge Funds Weigh In On Owens & Minor

Several institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in Owens & Minor by 10.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,028,236 shares of the company's stock worth $31,823,000 after acquiring an additional 187,079 shares in the last quarter. FMR LLC raised its position in shares of Owens & Minor by 0.8% during the third quarter. FMR LLC now owns 11,564,624 shares of the company's stock worth $181,449,000 after purchasing an additional 90,862 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Owens & Minor by 32.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 32,181 shares of the company's stock valued at $505,000 after purchasing an additional 7,830 shares in the last quarter. Centiva Capital LP grew its position in shares of Owens & Minor by 103.9% in the 3rd quarter. Centiva Capital LP now owns 61,627 shares of the company's stock valued at $967,000 after purchasing an additional 31,410 shares during the period. Finally, State Street Corp grew its position in shares of Owens & Minor by 2.6% in the 3rd quarter. State Street Corp now owns 3,064,547 shares of the company's stock valued at $48,083,000 after purchasing an additional 78,985 shares during the period. Institutional investors and hedge funds own 98.04% of the company's stock.

Owens & Minor Price Performance

NYSE OMI traded down $0.56 during trading on Monday, reaching $8.61. 1,250,318 shares of the company traded hands, compared to its average volume of 1,027,603. Owens & Minor has a 1-year low of $6.07 and a 1-year high of $28.35. 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 stock's 50 day moving average price is $9.37 and its two-hundred day moving average price is $12.23. The company has a market cap of $664.71 million, a price-to-earnings ratio of -13.24, a P/E/G ratio of 0.20 and a beta of 0.61.

Owens & Minor (NYSE:OMI - Get Free Report) last announced its quarterly 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 firm had revenue of $2.70 billion for the quarter, compared to analysts' expectations of $2.68 billion. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The business's revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 earnings per share. As a group, analysts anticipate that Owens & Minor will post 1.51 EPS for the current year.

Owens & Minor declared that its board has initiated a stock repurchase program on Friday, February 28th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to buy up to 13.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

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.