Owens & Minor (NYSE:OMI) Stock Price Down 5.3% Following Insider Selling

Owens & Minor, Inc. (NYSE:OMI) shares were down 5.3% on Tuesday following insider selling activity. The stock traded as low as $12.86 and last traded at $12.92. Approximately 116,678 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 822,495 shares. The stock had previously closed at $13.65.

Specifically, CFO Jonathan A. Leon sold 5,282 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $11.82, for a total transaction of $62,433.24. Following the transaction, the chief financial officer now owns 130,822 shares of the company’s stock, valued at $1,546,316.04. This represents a 3.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Citigroup reduced their price target on Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a research report 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. StockNews.com lowered shares of Owens & Minor from a “buy” rating to a “hold” rating in a report on Monday, August 26th. JPMorgan Chase & Co. cut their price target on shares of Owens & Minor from $22.00 to $18.00 and set an “underweight” rating for the company in a report on Wednesday, August 21st. Finally, Barclays decreased their price target 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. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Owens & Minor has a consensus rating of “Hold” and an average price target of $18.50.

Owens & Minor Price Performance

The firm has a fifty day moving average of $13.65 and a two-hundred day moving average of $15.09. 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 has a market capitalization of $1.03 billion, a PE ratio of -20.45, a PEG ratio of 0.47 and a beta of 0.41.

Owens & Minor (NYSE:OMI) last released its quarterly earnings data on Monday, November 4th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. Research analysts anticipate that Owens & Minor, Inc. will post 1.49 EPS for the current fiscal year.

Institutional Trading of Owens & Minor

Large investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale lifted its holdings in 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 buying an additional 1,356 shares during the period. Arizona State Retirement System lifted its stake in Owens & Minor by 7.7% in the second quarter. Arizona State Retirement System now owns 20,371 shares of the company’s stock worth $275,000 after acquiring an additional 1,449 shares during the period. Quarry LP lifted its stake in Owens & Minor by 290.1% in the second quarter. Quarry LP now owns 2,099 shares of the company’s stock worth $28,000 after acquiring an additional 1,561 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Owens & Minor by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,364 shares of the company’s stock valued at $207,000 after acquiring an additional 1,630 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Owens & Minor by 4.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,366 shares of the company’s stock valued at $491,000 after purchasing an additional 1,709 shares during the period. 98.04% of the stock is owned by institutional investors.

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.