JPMorgan Chase & Co. Issues Pessimistic Forecast for Owens & Minor (NYSE:OMI) Stock Price

Owens & Minor (NYSE:OMI - Get Free Report) had its price target decreased by JPMorgan Chase & Co. from $14.00 to $10.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 6.39% from the stock's current price.

A number of other equities research analysts have also issued reports on the company. Robert W. Baird increased their price target on Owens & Minor from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Monday, March 3rd. UBS Group cut their target price on Owens & Minor from $25.00 to $13.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $13.75.

Owens & Minor Stock Up 1.6 %

OMI stock traded up $0.15 during mid-day trading on Monday, reaching $9.40. The company had a trading volume of 1,080,684 shares, compared to its average volume of 955,506. 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 market capitalization of $726.04 million, a price-to-earnings ratio of -14.46, a price-to-earnings-growth ratio of 0.20 and a beta of 0.61. The firm has a fifty day simple moving average of $10.86 and a 200 day simple moving average of $12.82. Owens & Minor has a fifty-two week low of $6.07 and a fifty-two week high of $28.35.

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

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

Insider Buying and Selling

In other news, major shareholder Coliseum Capital Management, L purchased 354,901 shares of the company's stock in a transaction that occurred 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 purchase, the insider now directly owns 9,824,599 shares of the company's stock, valued at $90,288,064.81. This represents a 3.75 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OMI. Wolverine Asset Management LLC grew its stake in Owens & Minor by 21.1% during the 3rd quarter. Wolverine Asset Management LLC now owns 166,430 shares of the company's stock worth $2,611,000 after buying an additional 29,000 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Owens & Minor by 19.2% in the 3rd quarter. Victory Capital Management Inc. now owns 153,416 shares of the company's stock valued at $2,407,000 after purchasing an additional 24,722 shares during the last quarter. Royce & Associates LP grew its stake in shares of Owens & Minor by 179.4% in the 3rd quarter. Royce & Associates LP now owns 80,914 shares of the company's stock valued at $1,270,000 after purchasing an additional 51,955 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Owens & Minor by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 337,766 shares of the company's stock valued at $5,300,000 after purchasing an additional 17,152 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its stake 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 purchasing an additional 8,061 shares during the last quarter. Hedge funds and other 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.