Stock Buyback Program Declared by Owens & Minor (NYSE:OMI) Board

Owens & Minor (NYSE:OMI - Get Free Report) declared that its board has initiated a share buyback plan on Friday, February 28th, RTT News reports. The company plans to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 13.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays dropped their target price on Owens & Minor from $18.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, November 5th. UBS Group dropped their price objective on shares of Owens & Minor from $25.00 to $13.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Robert W. Baird boosted their target price on shares of Owens & Minor from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Monday. Finally, Citigroup dropped their price target 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $15.08.

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Owens & Minor Price Performance

Shares of NYSE OMI traded up $0.44 during trading on Tuesday, hitting $9.76. The company had a trading volume of 4,000,581 shares, compared to its average volume of 1,716,829. Owens & Minor has a 52 week low of $6.07 and a 52 week high of $28.35. The business's 50-day moving average is $11.44 and its 200 day moving average is $13.18. The company has a market cap of $752.66 million, a P/E ratio of -15.02, a PEG ratio of 0.20 and a beta of 0.48. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.45 and a current ratio of 1.09.

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

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.