Robert W. Baird Boosts Owens & Minor (NYSE:OMI) Price Target to $11.00

Owens & Minor (NYSE:OMI) had its price target upped by analysts at Robert W. Baird from $10.00 to $11.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 12.69% from the stock’s previous close.

OMI has been the topic of several other research reports. Barclays reduced 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. Citigroup reduced their price objective 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. Finally, UBS Group decreased their target price on Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Owens & Minor currently has a consensus rating of “Hold” and a consensus price target of $15.08.

Owens & Minor Trading Up 4.7 %

OMI stock opened at $9.76 on Monday. The business has a fifty day simple moving average of $11.38 and a 200-day simple moving average of $13.14. The company has a market cap of $752.66 million, a price-to-earnings ratio of -15.02, a PEG ratio of 0.20 and a beta of 0.48. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. Owens & Minor has a 52 week low of $6.07 and a 52 week high of $28.35.

Owens & Minor (NYSE:OMI) last posted its earnings results on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.68 billion. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. On average, equities research analysts expect that Owens & Minor will post 1.51 EPS for the current year.

Owens & Minor declared that its Board of Directors has approved a share repurchase program on Friday, February 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 13.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Owens & Minor

In other Owens & Minor news, major shareholder Coliseum Capital Management, L bought 354,901 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $9.19 per share, with a total value of $3,261,540.19. Following the transaction, the insider now directly owns 9,824,599 shares in the company, valued at approximately $90,288,064.81. This trade represents a 3.75 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.59% of the stock is currently owned by corporate insiders.

Institutional Trading of Owens & Minor

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC grew its position in shares of Owens & Minor by 21.1% in the 3rd quarter. Wolverine Asset Management LLC now owns 166,430 shares of the company’s stock worth $2,611,000 after acquiring an additional 29,000 shares in the last quarter. Victory Capital Management Inc. grew its position in Owens & Minor by 19.2% in the 3rd quarter. Victory Capital Management Inc. now owns 153,416 shares of the company’s stock worth $2,407,000 after purchasing an additional 24,722 shares during the last quarter. Royce & Associates LP increased its stake in shares of Owens & Minor by 179.4% in the third quarter. Royce & Associates LP now owns 80,914 shares of the company’s stock valued at $1,270,000 after purchasing an additional 51,955 shares during the period. Empowered Funds LLC increased its stake in shares of Owens & Minor by 5.3% in the third quarter. Empowered Funds LLC now owns 337,766 shares of the company’s stock valued at $5,300,000 after purchasing an additional 17,152 shares during the period. Finally, Meeder Asset Management Inc. raised its holdings in shares of Owens & Minor by 844.1% during the third quarter. Meeder Asset Management Inc. now owns 9,016 shares of the company’s stock valued at $141,000 after buying an additional 8,061 shares during the last quarter. Institutional investors own 98.04% of the company’s stock.

About Owens & Minor

Owens & Minor, Inc is a healthcare solutions company, which engages in the product manufacturing and delivery, home health supply, and perioperative services to support care through the hospital and into the home. It operates through the Products and Healthcare Services, and Patient Direct segments.