Owens & Minor (NYSE:OMI) Rating Downgraded to Hold at StockNews.com

StockNews.com downgraded the stock Owens & Minor (NYSE:OMI – Free Report) from a buy rating to a hold rating in a research report on Monday morning.

Several other equities research analysts recently issued reports on OMI. Bank of America cut their price target on Owens & Minor from $18.00 to $16.00 and set an underperform rating for the company in a report on Tuesday, June 25th. JPMorgan Chase & Co. decreased their target price on Owens & Minor from $22.00 to $18.00 and set an underweight rating for the company in a research note on Wednesday, August 21st. Barclays cut their price target on shares of Owens & Minor from $23.00 to $18.00 and set an equal weight rating on the stock in a research note on Monday, August 5th. Robert W. Baird reduced their price objective 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. Finally, Citigroup upgraded Owens & Minor from a neutral rating to a buy rating and cut their price target for the company from $24.00 to $19.00 in a report on Friday, July 19th . Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Owens & Minor has an average rating of Hold and a consensus price target of $20.00, based on data from MarketBeat.

Check out our latest research report on OMI

Owens & Minor stocks fell 1.4%

Shares of Owens & Minor stock opened at $16.14 on Monday. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -31.64, a PEG ratio of 0.50 and a beta of 0.25. The company’s 50-day simple moving average is $15.08 and its 200-day simple moving average is $19.82. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.09, and a quick ratio of 0.51. Owens & Minor has a fifty-two week low of $12.36 and a fifty-two week high of $28.35.

Owens & Minor (NYSE:OMI – Get Your Free Report ) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Owens & Minor had a negative net margin of 0.40% and a positive return on equity of 14.66%. The company had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the company posted earnings of $0.18 per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Owens & Minor will post 1.57 EPS for the current year.

Insider buying and selling

In other Owens & Minor news, Director Mark A. Beck sold 9,344 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $17.25, for a total value of $161,184.00. Following the completion of the sale, the director now owns 11,154 shares in the company, valued at $192,406.50. The sale was disclosed in a filing with the SEC, which is accessible via this hyperlink. In related news, EVP Snehashish Sarkar sold 9,980 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $17.32, for a total transaction of $172,853.60. Following the transaction, the executive vice president now directly owns 59,137 shares of the company’s stock, valued at approximately $1,024,252.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, Director Mark A. Beck sold 9,344 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $17.25, for a total value of $161,184.00. Following the sale, the director now directly owns 11,154 shares of the company’s stock, valued at approximately $192,406.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,892 shares of company stock worth $521,725. Insiders own 3.59% of the company’s shares.

Hedge funds affect Owens & Minor

Several large investors have recently modified their holdings of OMI. Deerfield Management Company LP Series C boosted its holdings in shares of Owens & Minor by 30.6% during the second quarter. Deerfield Management Company LP Series C now owns 6,371,440 shares of the company’s stock worth $86,014,000 after purchasing an additional 1,493,852 shares during the period. Norges Bank bought a new stake in shares of Owens & Minor in the fourth quarter valued at approximately $9,160,000. Dimensional Fund Advisors LP raised its holdings in shares of Owens & Minor by 8.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,210,991 shares of the company’s stock worth $81,148,000 after acquiring an additional 327,002 shares during the period. Renaissance Technologies LLC raised its position in shares of Owens & Minor by 16.5% in the second quarter. Renaissance Technologies LLC now owns 1,246,600 shares of the company’s stock valued at $16,829,000 after buying an additional 176,250 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Owens & Minor in the first quarter worth about $4,683,000. 98.04% of shares are held by institutional investors.

Owens & Minor Company Profile

(Get a free report)

Owens & Minor, Inc, together with its subsidiaries, operates as a global healthcare solutions company. It operates through the Products & Healthcare and Patient Direct segments. The Healthcare Products and Services segment offers a portfolio of products and services to healthcare providers and manufacturers.

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