Owens & Minor (NYSE:OMI) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Owens & Minor (NYSE:OMI) from a hold rating to a buy rating in a research report released on Saturday.

A number of other analysts also recently issued reports on OMI. Bank of America dropped their price target on Owens & Minor from $18.00 to $16.00 and set an underperform rating for the company in a research report on Tuesday, June 25th. Robert W. Baird dropped their target price on shares of Owens & Minor from $20.00 to $19.00 and set a neutral rating for the company in a research report on Tuesday, July 16th. Citigroup raised shares of Owens & Minor from a neutral rating to a buy rating and decreased their price target for the stock from $24.00 to $19.00 in a report on Friday, July 19th. Finally, Barclays dropped their price objective on shares of Owens & Minor from $23.00 to $18.00 and set an equal weight rating for the company in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $20.14.

Owens & Minor Stock Performance

Owens & Minor stock opened at $15.64 on Friday. The firm’s 50 day simple moving average is $15.14 and its 200 day simple moving average is $19.93. The company has a current ratio of 1.09, a quick ratio of 0.51 and a debt-to-equity ratio of 2.17. Owens & Minor has a 1-year low of $12.36 and a 1-year high of $28.35. The firm has a market capitalization of $1.21 billion, a PE ratio of -30.67, a price-to-earnings-growth ratio of 0.50 and a beta of 0.25.

Owens & Minor (NYSE:OMI) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.65 billion. Owens & Minor had a negative net margin of 0.40% and a positive return on equity of 14.66%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. As a group, analysts expect that Owens & Minor will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Mark A. Beck sold 9,344 shares of Owens & Minor stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $17.25, for a total value of $161,184.00. Following the transaction, the director now owns 11,154 shares in the company, valued at $192,406.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Mark A. Beck sold 9,344 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $17.25, for a total transaction of $161,184.00. Following the completion of the sale, the director now owns 11,154 shares of the company’s stock, valued at $192,406.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Alexander J. Bruni sold 10,568 shares of Owens & Minor stock in a transaction 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 transaction, the chief financial officer now directly owns 49,950 shares in the company, valued at $887,112. The disclosure for this sale can be found here. Insiders have sold a total of 29,892 shares of company stock worth $521,725 in the last 90 days. 3.59% of the stock is owned by company insiders.

Institutional Investors Weigh In On Owens & Minor

Several institutional investors and hedge funds have recently bought and sold shares of OMI. Vanguard Group Inc. lifted its position in shares of Owens & Minor by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 8,749,866 shares of the company’s stock worth $242,459,000 after purchasing an additional 162,182 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in Owens & Minor in the fourth quarter worth about $852,000. First Eagle Investment Management LLC lifted its holdings in Owens & Minor by 39.7% in the fourth quarter. First Eagle Investment Management LLC now owns 241,534 shares of the company’s stock worth $4,654,000 after buying an additional 68,596 shares during the period. Norges Bank bought a new stake in Owens & Minor during the 4th quarter valued at approximately $9,160,000. Finally, Gabelli Funds LLC grew its holdings in shares of Owens & Minor by 25.9% during the 1st quarter. Gabelli Funds LLC now owns 170,000 shares of the company’s stock worth $4,711,000 after acquiring an additional 35,000 shares during the period. Hedge funds and other institutional investors own 98.04% of the company’s stock.

Owens & Minor Company Profile

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.