Owens & Minor (NYSE:OMI) Stock Price Down 9.6%

Shares of Owens & Minor, Inc. (NYSE:OMI) fell 9.6% during trading on Monday . The company traded as low as $14.61 and last traded at $14.65. 836,496 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 797,885 shares. The stock had previously closed at $16.20.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup upgraded shares of Owens & Minor from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $24.00 to $19.00 in a report on Friday, July 19th. Robert W. Baird reduced 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 note on Tuesday, July 16th. Bank of America dropped their price target on Owens & Minor from $18.00 to $16.00 and set an “underperform” rating on the stock in a research note on Tuesday, June 25th. Finally, StockNews.com raised shares of Owens & Minor from a “hold” rating to a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Owens & Minor presently has a consensus rating of “Hold” and an average target price of $20.63.

Owens & Minor Price Performance

The firm has a market capitalization of $1.14 billion, a P/E ratio of -29.16, a PEG ratio of 0.52 and a beta of 0.25. The business’s 50-day simple moving average is $15.54 and its 200 day simple moving average is $20.25. The company has a quick ratio of 0.56, a current ratio of 1.16 and a debt-to-equity ratio of 2.17.

Owens & Minor (NYSE:OMI) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Owens & Minor had a positive return on equity of 12.97% and a negative net margin of 0.37%. The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the firm earned $0.18 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. Sell-side analysts forecast that Owens & Minor, Inc. will post 1.54 earnings per share for the current year.

Insider Activity

In related news, CFO Alexander J. Bruni sold 10,568 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $17.76, for a total transaction of $187,687.68. Following the transaction, the chief financial officer now owns 49,950 shares in the company, valued at approximately $887,112. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Heath H. Galloway sold 2,031 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was 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 owns 56,898 shares of the company’s stock, valued at approximately $1,148,201.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alexander J. Bruni sold 10,568 shares of Owens & Minor stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $17.76, for a total value of $187,687.68. Following the sale, the chief financial officer now owns 49,950 shares in the company, valued at $887,112. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,923 shares of company stock valued at $562,711. Insiders own 3.59% of the company’s stock.

Institutional Trading of Owens & Minor

Hedge funds have recently modified their holdings of the business. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Owens & Minor in the fourth quarter worth $852,000. Vanguard Group Inc. grew its holdings in shares of Owens & Minor by 1.9% during 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 during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Owens & Minor by 39.7% in the 4th quarter. First Eagle Investment Management LLC now owns 241,534 shares of the company’s stock worth $4,654,000 after purchasing an additional 68,596 shares in the last quarter. Norges Bank bought a new position in shares of Owens & Minor during the fourth quarter valued at $9,160,000. Finally, Gabelli Funds LLC boosted its position in shares of Owens & Minor by 25.9% during the first quarter. Gabelli Funds LLC now owns 170,000 shares of the company’s stock valued at $4,711,000 after buying an additional 35,000 shares during the last quarter. 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.