Citigroup Cuts Owens & Minor (NYSE:OMI) Price Target to $18.50

Owens & Minor (NYSE:OMI) had its price objective lowered by analysts at Citigroup from $21.00 to $18.50 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 56.78% from the stock’s current price.

Several other research analysts also recently commented on OMI. StockNews.com downgraded Owens & Minor from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Barclays reduced their price objective on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. reduced their price target on Owens & Minor from $22.00 to $18.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 21st. Finally, Robert W. Baird cut their price target on shares of Owens & Minor from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.64.

Owens & Minor Price Performance

Shares of NYSE OMI traded down $0.20 during trading hours on Tuesday, hitting $11.80. 141,427 shares of the stock were exchanged, compared to its average volume of 829,671. The company’s fifty day simple moving average is $14.62 and its two-hundred day simple moving average is $16.28. The company has a market cap of $909.78 million, a PE ratio of -20.79, a price-to-earnings-growth ratio of 0.43 and a beta of 0.41. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.51 and a current ratio of 1.09. Owens & Minor has a 1-year low of $11.42 and a 1-year high of $28.35.

Owens & Minor (NYSE:OMI) last issued its earnings results on Monday, November 4th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Owens & Minor had a positive return on equity of 14.66% and a negative net margin of 0.40%. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter last year, the business posted $0.44 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts predict that Owens & Minor will post 1.57 EPS for the current year.

Institutional Trading of Owens & Minor

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Owens & Minor by 1.9% in the first quarter. Vanguard Group Inc. now owns 8,749,866 shares of the company’s stock valued at $242,459,000 after buying an additional 162,182 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its position in Owens & Minor by 30.6% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 6,371,440 shares of the company’s stock valued at $86,014,000 after acquiring an additional 1,493,852 shares in the last quarter. Gabelli Funds LLC boosted its stake in Owens & Minor by 25.9% during the 1st quarter. Gabelli Funds LLC now owns 170,000 shares of the company’s stock valued at $4,711,000 after purchasing an additional 35,000 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Owens & Minor by 16.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,246,600 shares of the company’s stock worth $16,829,000 after purchasing an additional 176,250 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Owens & Minor by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,534,204 shares of the company’s stock worth $61,213,000 after purchasing an additional 76,599 shares during the last quarter. Institutional investors and hedge funds 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.