Owens & Minor (NYSE:OMI) Shares Down 7.4% - Here's Why

Owens & Minor, Inc. (NYSE:OMI - Get Free Report) shares dropped 7.4% on Wednesday . The stock traded as low as $7.14 and last traded at $7.20. Approximately 1,205,452 shares traded hands during trading, a decline of 24% from the average daily volume of 1,583,515 shares. The stock had previously closed at $7.77.

Wall Street Analysts Forecast Growth

OMI has been the topic of several research analyst reports. UBS Group decreased their price target 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. JPMorgan Chase & Co. dropped their price objective on Owens & Minor from $14.00 to $10.00 and set an "underweight" rating for the company in a report on Monday, March 10th. Finally, Robert W. Baird lifted 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $13.75.

Owens & Minor Price Performance

The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. The company has a market capitalization of $535.38 million, a PE ratio of -10.66, a PEG ratio of 0.20 and a beta of 1.02. The firm has a 50-day moving average of $8.40 and a 200 day moving average of $11.70.

Owens & Minor (NYSE:OMI - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The company reported $0.55 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same period in the prior year, the business posted $0.69 EPS. Owens & Minor's revenue was up 1.5% on a year-over-year basis. As a group, research analysts anticipate that Owens & Minor, Inc. 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 repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 13.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other Owens & Minor news, major shareholder Coliseum Capital Management, L acquired 225,000 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was acquired at an average cost of $7.39 per share, for a total transaction of $1,662,750.00. Following the purchase, the insider now owns 11,482,955 shares in the company, valued at approximately $84,859,037.45. The trade was a 2.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 2,718,412 shares of company stock worth $24,495,308 over the last 90 days. Company insiders own 3.59% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Parallel Advisors LLC increased its position in shares of Owens & Minor by 1,387.0% during the first quarter. Parallel Advisors LLC now owns 3,316 shares of the company's stock worth $30,000 after purchasing an additional 3,093 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Owens & Minor by 7,245.3% during the 1st quarter. GAMMA Investing LLC now owns 83,663 shares of the company's stock worth $755,000 after acquiring an additional 82,524 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Owens & Minor by 537.6% in the 1st quarter. Versant Capital Management Inc now owns 3,201 shares of the company's stock valued at $29,000 after buying an additional 2,699 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Owens & Minor by 29.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 219,761 shares of the company's stock worth $2,872,000 after purchasing an additional 50,184 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its stake in Owens & Minor by 24.2% in the fourth quarter. Voloridge Investment Management LLC now owns 243,525 shares of the company's stock valued at $3,183,000 after buying an additional 47,459 shares during the last quarter. 98.04% of the stock is owned by institutional investors and hedge funds.

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.