Owens & Minor (NYSE:OMI) Lifted to “Buy” at Citigroup

Citigroup upgraded shares of Owens & Minor (NYSE:OMI) from a neutral rating to a buy rating in a report released on Friday morning, MarketBeat.com reports. They currently have $19.00 target price on the stock, down from their prior target price of $24.00.

OMI has been the subject of a number of other reports. Bank of America lowered their price target on shares of Owens & Minor from $18.00 to $16.00 and set an underperform rating for the company in a report on Tuesday, June 25th. Robert W. Baird lowered their price target on shares of Owens & Minor from $20.00 to $19.00 and set a neutral rating for the company in a report on Tuesday, July 16th. Finally, StockNews.com lowered shares of Owens & Minor from a buy rating to a hold rating in a report on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $20.63.

Owens & Minor Stock Up 1.4 %

Shares of OMI opened at $14.82 on Friday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.56 and a current ratio of 1.16. Owens & Minor has a fifty-two week low of $12.36 and a fifty-two week high of $28.35. The firm has a 50 day moving average price of $16.10 and a 200-day moving average price of $20.51.

Owens & Minor (NYSE:OMI) last announced its quarterly earnings data on Friday, May 3rd. The company reported $0.19 earnings per share 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 firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the business posted $0.05 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, research analysts forecast that Owens & Minor will post 1.53 earnings per share for the current year.

Insider Transactions at Owens & Minor

In other news, Director Mark A. Beck sold 9,344 shares of the firm’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 completion of the sale, the director now directly owns 11,154 shares of the company’s stock, valued at approximately $192,406.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Heath H. Galloway sold 2,031 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $20.18, for a total value of $40,985.58. Following the completion of the transaction, the executive vice president now directly owns 56,898 shares in the company, valued at approximately $1,148,201.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Beck sold 9,344 shares of the stock in a transaction dated 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 transaction, the director now owns 11,154 shares of the company’s stock, valued at $192,406.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,923 shares of company stock valued at $562,711. Company insiders own 3.59% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Riverview Trust Co bought a new position in shares of Owens & Minor in the 1st quarter worth about $25,000. Hexagon Capital Partners LLC increased its stake in shares of Owens & Minor by 1,240.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,568 shares of the company’s stock worth $43,000 after acquiring an additional 1,451 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Owens & Minor by 52.1% in the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the company’s stock worth $46,000 after acquiring an additional 563 shares in the last quarter. Quest Partners LLC bought a new position in shares of Owens & Minor in the 4th quarter worth about $41,000. Finally, Quarry LP increased its stake in shares of Owens & Minor by 38.8% in the 4th quarter. Quarry LP now owns 2,573 shares of the company’s stock worth $50,000 after acquiring an additional 719 shares in the last quarter. 98.04% of the stock is currently owned by institutional investors.

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.