Owens & Minor (NYSE:OMI) Trading Up 4.4% – Should You Buy?

Owens & Minor, Inc. (NYSE:OMI)’s share price traded up 4.4% during mid-day trading on Tuesday . The stock traded as high as $13.26 and last traded at $13.22. 236,128 shares traded hands during trading, a decline of 71% from the average session volume of 800,605 shares. The stock had previously closed at $12.66.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OMI. Citigroup lowered their target price on Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. UBS Group cut their price objective on shares of Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Barclays lowered their target price on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Finally, Robert W. Baird reduced their price objective on shares of Owens & Minor from $19.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Owens & Minor presently has a consensus rating of “Hold” and a consensus price target of $18.50.

Owens & Minor Price Performance

The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -20.25, a PEG ratio of 0.48 and a beta of 0.42. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11. The company’s 50 day simple moving average is $13.13 and its 200-day simple moving average is $14.36.

Owens & Minor (NYSE:OMI) last released its earnings results on Monday, November 4th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts predict that Owens & Minor, Inc. will post 1.49 earnings per share for the current fiscal year.

Insider Transactions at Owens & Minor

In other Owens & Minor news, CFO Jonathan A. Leon sold 5,282 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $11.82, for a total value of $62,433.24. Following the completion of the transaction, the chief financial officer now owns 130,822 shares in the company, valued at $1,546,316.04. This represents a 3.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.59% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OMI. Quarry LP increased its position in shares of Owens & Minor by 290.1% in the 2nd quarter. Quarry LP now owns 2,099 shares of the company’s stock worth $28,000 after purchasing an additional 1,561 shares during the last quarter. Blue Trust Inc. grew its position in shares of Owens & Minor by 176.8% in the 3rd quarter. Blue Trust Inc. now owns 2,787 shares of the company’s stock worth $44,000 after acquiring an additional 1,780 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Owens & Minor by 76.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company’s stock worth $43,000 after acquiring an additional 1,356 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Owens & Minor by 100.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,071 shares of the company’s stock valued at $82,000 after acquiring an additional 3,044 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Owens & Minor during the 2nd quarter valued at approximately $82,000. 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.