Owens & Minor (NYSE:OMI) Given New $19.00 Price Target at JPMorgan Chase & Co.

Owens & Minor (NYSE:OMI) had its target price reduced by JPMorgan Chase & Co. from $21.00 to $19.00 in a report released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

A number of other analysts also recently commented on OMI. StockNews.com initiated coverage on Owens & Minor in a research report on Thursday, October 5th. They set a hold rating for the company. Credit Suisse Group lifted their target price on Owens & Minor from $18.00 to $19.00 and gave the stock a neutral rating in a research note on Tuesday, August 8th. TheStreet lowered shares of Owens & Minor from a c- rating to a d+ rating in a research report on Thursday, October 12th. Finally, Citigroup decreased their price objective on shares of Owens & Minor from $23.00 to $21.00 in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Owens & Minor presently has an average rating of Hold and a consensus price target of $20.80.

Owens & Minor Stock Up 1.3 %

OMI stock opened at $19.00 on Friday. The firm has a market capitalization of $1.45 billion, a PE ratio of -12.34, a P/E/G ratio of 4.56 and a beta of 0.35. The company has a quick ratio of 0.60, a current ratio of 1.23 and a debt-to-equity ratio of 2.38. Owens & Minor has a twelve month low of $11.79 and a twelve month high of $22.86. The stock’s 50 day moving average is $16.13 and its 200-day moving average is $17.13.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Friday, November 3rd. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.06. Owens & Minor had a positive return on equity of 8.06% and a negative net margin of 1.14%. The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the business earned $0.41 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts expect that Owens & Minor will post 1.33 EPS for the current fiscal year.

Insider Transactions at Owens & Minor

In related news, CFO Alexander J. Bruni sold 12,668 shares of Owens & Minor stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $17.57, for a total value of $222,576.76. Following the completion of the sale, the chief financial officer now owns 41,457 shares of the company’s stock, valued at approximately $728,399.49. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Owens & Minor news, EVP Heath H. Galloway sold 5,500 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $17.57, for a total transaction of $96,635.00. Following the sale, the executive vice president now owns 36,479 shares of the company’s stock, valued at approximately $640,936.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alexander J. Bruni sold 12,668 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $17.57, for a total value of $222,576.76. Following the completion of the transaction, the chief financial officer now directly owns 41,457 shares of the company’s stock, valued at $728,399.49. The disclosure for this sale can be found here. 3.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OMI. Nomura Asset Management Co. Ltd. grew its holdings in shares of Owens & Minor by 68.3% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 1,700 shares of the company’s stock valued at $25,000 after purchasing an additional 690 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Owens & Minor by 60.6% during the second quarter. Lindbrook Capital LLC now owns 1,487 shares of the company’s stock valued at $28,000 after buying an additional 561 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Owens & Minor in the third quarter worth about $29,000. Versant Capital Management Inc lifted its stake in shares of Owens & Minor by 147.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,593 shares of the company’s stock valued at $30,000 after acquiring an additional 948 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Owens & Minor by 51.3% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,437 shares of the company’s stock valued at $46,000 after acquiring an additional 826 shares during the period. 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 in two segments, Products & Healthcare Services and Patient Direct. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.