Owens & Minor, Inc. (NYSE:OMI) Receives $13.75 Average Target Price from Analysts

Shares of Owens & Minor, Inc. (NYSE:OMI) have received an average rating of “Hold” from the six brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $13.75.

Several equities analysts recently issued reports on OMI shares. JPMorgan Chase & Co. cut their price target on shares of Owens & Minor from $14.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, March 10th. UBS Group decreased their target price on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Robert W. Baird upped their price objective on Owens & Minor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd.

Owens & Minor Trading Up 1.2 %

NYSE OMI opened at $9.15 on Monday. Owens & Minor has a one year low of $6.07 and a one year high of $28.35. The firm has a market capitalization of $706.81 million, a PE ratio of -14.08, a price-to-earnings-growth ratio of 0.20 and a beta of 0.61. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.45 and a current ratio of 1.09. The company has a 50-day simple moving average of $9.50 and a 200-day simple moving average of $12.25.

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

Owens & Minor announced that its board has approved a share buyback program on Friday, February 28th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 13.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, major shareholder Coliseum Capital Management, L acquired 354,901 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was bought at an average cost of $9.19 per share, with a total value of $3,261,540.19. Following the completion of the purchase, the insider now directly owns 9,824,599 shares of the company’s stock, valued at $90,288,064.81. This represents a 3.75 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.59% of the company’s stock.

Institutional Trading of Owens & Minor

A number of institutional investors have recently modified their holdings of OMI. Inspire Advisors LLC grew its position in Owens & Minor by 11.2% during the fourth quarter. Inspire Advisors LLC now owns 15,350 shares of the company’s stock valued at $201,000 after buying an additional 1,548 shares during the period. Blue Trust Inc. raised its position in Owens & Minor by 57.4% in the fourth quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock valued at $57,000 after purchasing an additional 1,600 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Owens & Minor by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,930 shares of the company’s stock valued at $561,000 after purchasing an additional 1,662 shares during the period. Sterling Capital Management LLC increased its holdings in Owens & Minor by 758.3% during the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock worth $27,000 after purchasing an additional 1,820 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Owens & Minor by 0.9% in the 4th quarter. Legal & General Group Plc now owns 212,061 shares of the company’s stock valued at $2,772,000 after purchasing an additional 1,991 shares during the last quarter. 98.04% of the stock is currently owned by institutional investors.

Owens & Minor Company Profile

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.