Owens & Minor (NYSE:OMI) Shares Gap Down to $16.42

Shares of Owens & Minor, Inc. (NYSE:OMI) gapped down prior to trading on Friday . The stock had previously closed at $16.42, but opened at $14.95. Owens & Minor shares last traded at $15.06, with a volume of 32,817 shares changing hands.

Wall Street Analyst Weigh In

OMI has been the topic of a number of research reports. Robert W. Baird lowered their target price on Owens & Minor from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th. Citigroup raised shares of Owens & Minor from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $24.00 to $19.00 in a report on Friday, July 19th. Bank of America cut their price objective on shares of Owens & Minor from $18.00 to $16.00 and set an “underperform” rating on the stock in a report on Tuesday, June 25th. Finally, StockNews.com raised shares of Owens & Minor from a “hold” rating to a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Owens & Minor has an average rating of “Hold” and a consensus price target of $20.63.

Owens & Minor Stock Performance

The firm has a market cap of $1.23 billion, a PE ratio of -28.53, a price-to-earnings-growth ratio of 0.52 and a beta of 0.25. The company has a 50 day simple moving average of $15.61 and a 200-day simple moving average of $20.28. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.16 and a quick ratio of 0.56.

Owens & Minor (NYSE:OMI) last issued its earnings results on Friday, May 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.61 billion. Owens & Minor had a positive return on equity of 12.97% and a negative net margin of 0.37%. Owens & Minor’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 earnings per share. As a group, equities research analysts anticipate that Owens & Minor, Inc. will post 1.54 EPS for the current year.

Insider Activity

In other news, CFO Alexander J. Bruni sold 10,568 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $17.76, for a total transaction of $187,687.68. Following the completion of the sale, the chief financial officer now owns 49,950 shares of the company’s stock, valued at $887,112. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Owens & Minor news, EVP Snehashish Sarkar sold 9,980 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $17.32, for a total transaction of $172,853.60. Following the completion of the transaction, the executive vice president now owns 59,137 shares of the company’s stock, valued at $1,024,252.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alexander J. Bruni sold 10,568 shares of Owens & Minor stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $17.76, for a total value of $187,687.68. Following the completion of the transaction, the chief financial officer now directly owns 49,950 shares of the company’s stock, valued at approximately $887,112. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,923 shares of company stock valued at $562,711. 3.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Owens & Minor

Hedge funds have recently bought and sold shares of the business. Riverview Trust Co bought a new stake in shares of Owens & Minor during the 1st quarter valued at about $25,000. Quest Partners LLC bought a new stake in shares of Owens & Minor during the 4th quarter valued at about $41,000. Hexagon Capital Partners LLC grew its stake in shares of Owens & Minor by 1,240.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,568 shares of the company’s stock valued at $43,000 after acquiring an additional 1,451 shares during the period. Innealta Capital LLC bought a new position in shares of Owens & Minor during the 2nd quarter valued at approximately $43,000. Finally, GAMMA Investing LLC grew its stake in shares of Owens & Minor by 52.1% during the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the company’s stock valued at $46,000 after acquiring an additional 563 shares during the period. Hedge funds and other 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.