Owens & Minor (NYSE:OMI) Price Target Raised to $11.00 at Robert W. Baird

Owens & Minor (NYSE:OMI - Get Free Report) had its price target upped by Robert W. Baird from $10.00 to $11.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Robert W. Baird's price target indicates a potential upside of 10.28% from the stock's current price.

A number of other brokerages have also recently issued reports on OMI. Citigroup decreased their target price on Owens & Minor from $21.00 to $18.50 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Barclays lowered their target price on shares of 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. Finally, UBS Group reduced their price target on shares of 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 analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $15.08.

Owens & Minor Stock Up 2.4 %

Shares of NYSE:OMI traded up $0.24 on Monday, hitting $9.98. 1,507,770 shares of the company's stock were exchanged, compared to its average volume of 1,717,927. Owens & Minor has a 1-year low of $6.07 and a 1-year high of $28.35. The company has a market capitalization of $770.54 million, a PE ratio of -15.35, a P/E/G ratio of 0.20 and a beta of 0.61. 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 firm's 50-day moving average is $11.32 and its 200 day moving average is $13.11.

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Owens & Minor (NYSE:OMI - Get Free Report) last announced 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. 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 the consensus estimate of $2.68 billion. During the same period in the prior year, the company posted $0.69 earnings per share. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. Sell-side analysts predict that Owens & Minor will post 1.51 EPS for the current year.

Owens & Minor announced that its board has approved a stock buyback program on Friday, February 28th that authorizes the company 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 programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, major shareholder Coliseum Capital Management, L purchased 354,901 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $9.19 per share, with a total value of $3,261,540.19. Following the completion of the acquisition, the insider now directly owns 9,824,599 shares of the company's stock, valued at approximately $90,288,064.81. This trade represents a 3.75 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.59% of the company's stock.

Hedge Funds Weigh In On Owens & Minor

Several institutional investors and hedge funds have recently added to or reduced their stakes in OMI. Wolverine Asset Management LLC boosted its stake in shares of Owens & Minor by 21.1% in the third quarter. Wolverine Asset Management LLC now owns 166,430 shares of the company's stock valued at $2,611,000 after buying an additional 29,000 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Owens & Minor by 19.2% during the 3rd quarter. Victory Capital Management Inc. now owns 153,416 shares of the company's stock worth $2,407,000 after purchasing an additional 24,722 shares in the last quarter. Royce & Associates LP grew its stake in shares of Owens & Minor by 179.4% during the 3rd quarter. Royce & Associates LP now owns 80,914 shares of the company's stock worth $1,270,000 after purchasing an additional 51,955 shares during the period. Empowered Funds LLC increased its holdings 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 in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake 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 purchasing an additional 8,061 shares during the period. Institutional investors and hedge funds own 98.04% of the company's stock.

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.