Owens & Minor (NYSE:OMI) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Owens & Minor (NYSE:OMI) from a hold rating to a buy rating in a report released on Wednesday morning, Zacks.com reports. They currently have $51.00 price objective on the stock.

According to Zacks, “Owens & Minor, Inc. is a global healthcare solutions company dedicated to Connecting the World of Medical Products to the Point of CareSM by providing vital supply chain services to healthcare providers and manufacturers of healthcare products. Owens & Minor provides logistics services across the spectrum of medical products from disposable medical supplies to devices and implants. With logistics platforms strategically located in the United States and Europe, Owens & Minor serves markets where three quarters of global healthcare spending occurs. Owens & Minor’s customers span the healthcare market from independent hospitals to large integrated healthcare networks, as well as group purchasing organizations, healthcare products manufacturers, the federal government, and healthcare patients at home through the Byram Healthcare subsidiary. “

Separately, Citigroup upgraded Owens & Minor from a neutral rating to a buy rating and set a $55.00 price objective for the company in a research report on Friday, December 17th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $47.00.

NYSE OMI opened at $44.24 on Wednesday. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 0.72 and a beta of 0.31. Owens & Minor has a twelve month low of $23.58 and a twelve month high of $49.16. The company has a current ratio of 1.68, a quick ratio of 0.62 and a debt-to-equity ratio of 1.08. The stock has a 50-day moving average of $42.73 and a 200 day moving average of $39.80.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings results on Wednesday, November 3rd. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.15. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.48 billion. Owens & Minor had a return on equity of 40.55% and a net margin of 2.38%. The business’s revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.81 earnings per share. Equities analysts predict that Owens & Minor will post 3.99 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Stockholders of record on Wednesday, December 15th were paid a $0.002 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Tuesday, December 14th. Owens & Minor’s payout ratio is currently 0.32%.

In other Owens & Minor news, COO Jeffrey T. Jochims sold 7,500 shares of the firm’s stock in a transaction on Wednesday, December 15th. The stock was sold at an average price of $39.80, for a total value of $298,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew G. Long sold 11,882 shares of the firm’s stock in a transaction dated Friday, November 12th. The stock was sold at an average price of $42.27, for a total value of $502,252.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 158,024 shares of company stock worth $6,644,534. Insiders own 4.65% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its position in shares of Owens & Minor by 7.1% during the 2nd quarter. Bank of America Corp DE now owns 839,326 shares of the company’s stock worth $35,529,000 after purchasing an additional 55,682 shares during the last quarter. Amundi purchased a new stake in Owens & Minor during the 2nd quarter worth $8,949,000. Invesco Ltd. boosted its position in Owens & Minor by 34.8% during the 2nd quarter. Invesco Ltd. now owns 1,666,104 shares of the company’s stock worth $70,526,000 after purchasing an additional 429,971 shares during the period. Kennedy Capital Management Inc. purchased a new stake in Owens & Minor during the 2nd quarter worth $1,798,000. Finally, William Blair Investment Management LLC lifted its holdings in Owens & Minor by 23.6% in the 2nd quarter. William Blair Investment Management LLC now owns 1,008,178 shares of the company’s stock worth $42,676,000 after buying an additional 192,355 shares in the last quarter. Institutional investors own 95.92% of the company’s stock.

About Owens & Minor

Owens & Minor, Inc engages in the provision of healthcare solutions. It operates through the Global Solutions and Global Products segments. The Global Solutions segment comprises of United States distribution, outsourced logistics, and value-added services business. The Global Products segment manufactures and sources medical surgical products through the production and kitting operations.

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