Owens & Minor, Inc. (NYSE:OMI - Get Free Report)'s stock price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $6.89, but opened at $7.74. Owens & Minor shares last traded at $8.70, with a volume of 1,150,280 shares traded.
The company reported $0.55 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 firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same period last year, the company earned $0.69 earnings per share. The company's revenue was up 1.5% on a year-over-year basis.
Owens & Minor declared that its Board of Directors has authorized a stock buyback plan on Friday, February 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 13.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.
Analyst Ratings Changes
A number of research firms have commented on OMI. Barclays lowered their target price on shares of Owens & Minor from $18.00 to $14.00 and set an "equal weight" rating for the company in a report on Tuesday, November 5th. Citigroup decreased their price objective on Owens & Minor from $21.00 to $18.50 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Robert W. Baird increased their target price on Owens & Minor from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Monday. Finally, UBS Group decreased their target price on Owens & Minor from $25.00 to $13.00 and set a "buy" rating for the company 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $15.08.
Check Out Our Latest Report on OMI
Institutional Trading of Owens & Minor
A number of large investors have recently made changes to their positions in the company. Sterling Capital Management LLC grew its stake in Owens & Minor by 758.3% in the fourth quarter. Sterling Capital Management LLC now owns 2,060 shares of the company's stock valued at $27,000 after acquiring an additional 1,820 shares during the period. Blue Trust Inc. lifted its holdings in shares of Owens & Minor by 57.4% during the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company's stock valued at $57,000 after purchasing an additional 1,600 shares in the last quarter. KBC Group NV grew its position in shares of Owens & Minor by 98.2% in the 4th quarter. KBC Group NV now owns 4,434 shares of the company's stock valued at $58,000 after purchasing an additional 2,197 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Owens & Minor by 844.1% in the third quarter. Meeder Asset Management Inc. now owns 9,016 shares of the company's stock valued at $141,000 after buying an additional 8,061 shares during the period. Finally, Cetera Investment Advisers acquired a new position in Owens & Minor in the 4th quarter worth $140,000. Institutional investors own 98.04% of the company's stock.
Owens & Minor Stock Performance
The stock has a fifty day simple moving average of $11.44 and a 200-day simple moving average of $13.18. The stock 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.
About Owens & Minor
(
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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.
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