Owens & Minor (NYSE:OMI) Stock Price Up 4.4% - Time to Buy?

Shares of Owens & Minor, Inc. (NYSE:OMI - Get Free Report) were up 4.4% during mid-day trading on Tuesday . The company traded as high as $13.26 and last traded at $13.22. Approximately 236,128 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 800,605 shares. The stock had previously closed at $12.66.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OMI. Barclays lowered their price target on Owens & Minor from $18.00 to $14.00 and set an "equal weight" rating for the company in a research report on Tuesday, November 5th. UBS Group cut their price objective on Owens & Minor from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Robert W. Baird decreased their target price on Owens & Minor from $19.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, November 5th. Finally, Citigroup lowered their target price 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. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $18.50.

Owens & Minor Price Performance

The firm has a 50-day moving average of $13.13 and a 200 day moving average of $14.36. The company has a market capitalization of $1.01 billion, a PE ratio of -20.11, a PEG ratio of 0.48 and a beta of 0.42. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45.

Owens & Minor (NYSE:OMI - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.01. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.68 billion. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The company's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 EPS. As a group, research analysts anticipate that Owens & Minor, Inc. will post 1.49 earnings per share for the current fiscal year.

Insider Transactions at Owens & Minor

In related news, CFO Jonathan A. Leon sold 5,282 shares of Owens & Minor stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $11.82, for a total transaction of $62,433.24. Following the transaction, the chief financial officer now directly owns 130,822 shares in the company, valued at approximately $1,546,316.04. The trade was a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.59% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OMI. Quarry LP grew its stake in shares of Owens & Minor by 290.1% during the 2nd quarter. Quarry LP now owns 2,099 shares of the company's stock valued at $28,000 after acquiring an additional 1,561 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Owens & Minor by 76.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company's stock worth $43,000 after purchasing an additional 1,356 shares during the period. Blue Trust Inc. boosted its position in shares of Owens & Minor by 176.8% in the third quarter. Blue Trust Inc. now owns 2,787 shares of the company's stock worth $44,000 after purchasing an additional 1,780 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Owens & Minor by 100.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 6,071 shares of the company's stock worth $82,000 after purchasing an additional 3,044 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Owens & Minor during the 2nd quarter valued at $82,000. Institutional investors own 98.04% of the company's stock.

About Owens & Minor

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.