Owens & Minor (NYSE:OMI) Shares Down 5.4%

Shares of Owens & Minor, Inc. (NYSE:OMI) were down 5.4% on Monday . The stock traded as low as $16.03 and last traded at $16.05. Approximately 392,925 shares traded hands during trading, a decline of 45% from the average daily volume of 708,673 shares. The stock had previously closed at $16.97.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Owens & Minor from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. Robert W. Baird reduced their price target on shares of Owens & Minor from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday. Bank of America decreased their price objective on Owens & Minor from $18.00 to $16.00 and set an “underperform” rating on the stock in a report on Tuesday. StockNews.com cut Owens & Minor from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, TheStreet raised Owens & Minor from a “d+” rating to a “c-” rating in a research note on Monday, March 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.88.

Owens & Minor Price Performance

The company has a fifty day moving average of $19.33 and a 200-day moving average of $21.39. The company has a current ratio of 1.16, a quick ratio of 0.56 and a debt-to-equity ratio of 2.17. The stock has a market cap of $1.11 billion, a PE ratio of -28.57, a P/E/G ratio of 0.50 and a beta of 0.33.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings results on Friday, May 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Owens & Minor had a negative net margin of 0.37% and a positive return on equity of 12.97%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period in the prior year, the firm earned $0.05 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Sell-side analysts expect that Owens & Minor, Inc. will post 1.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark A. Beck sold 9,344 shares of the stock in a transaction on Wednesday, June 5th. The stock was 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 in the company, valued at $192,406.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Mark A. Beck sold 9,344 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $17.25, for a total transaction of $161,184.00. Following the sale, the director now directly owns 11,154 shares in the company, valued at $192,406.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jonathan A. Leon sold 5,000 shares of Owens & Minor stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $24.84, for a total transaction of $124,200.00. Following the completion of the transaction, the senior vice president now owns 84,673 shares of the company’s stock, valued at approximately $2,103,277.32. The disclosure for this sale can be found here. Insiders sold a total of 36,923 shares of company stock worth $686,911 over the last 90 days. Corporate insiders own 3.59% of the company’s stock.

Hedge Funds Weigh In On Owens & Minor

Several large investors have recently bought and sold shares of OMI. Charles Schwab Investment Management Inc. boosted its position in shares of Owens & Minor by 8.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 786,749 shares of the company’s stock worth $12,714,000 after acquiring an additional 59,128 shares in the last quarter. Rhumbline Advisers boosted its holdings in Owens & Minor by 0.3% in the third quarter. Rhumbline Advisers now owns 247,846 shares of the company’s stock valued at $4,005,000 after purchasing an additional 660 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Owens & Minor in the third quarter valued at approximately $29,000. Invesco Ltd. raised its holdings in Owens & Minor by 12.0% during the third quarter. Invesco Ltd. now owns 1,081,460 shares of the company’s stock worth $17,476,000 after purchasing an additional 115,995 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Owens & Minor by 19.7% during the 3rd quarter. Federated Hermes Inc. now owns 399,083 shares of the company’s stock worth $6,449,000 after buying an additional 65,757 shares during the last quarter. 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.