Owens & Minor (NYSE:OMI) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Owens & Minor (NYSE:OMI) from a hold rating to a buy rating in a report issued on Saturday.

A number of other brokerages also recently commented on OMI. Citigroup upgraded Owens & Minor from a neutral rating to a buy rating and reduced their price objective for the stock from $24.00 to $19.00 in a research report on Friday, July 19th. Robert W. Baird reduced their price target on Owens & Minor from $20.00 to $19.00 and set a neutral rating on the stock in a report on Tuesday, July 16th. Barclays lowered their price target on shares of Owens & Minor from $23.00 to $18.00 and set an equal weight rating on the stock in a research report on Monday, August 5th. Finally, Bank of America lowered their price objective on Owens & Minor from $18.00 to $16.00 and set an underperform rating for the company in a research report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $20.14.

Owens & Minor Trading Down 2.9 %

Shares of OMI stock opened at $15.64 on Friday. The stock has a 50 day simple moving average of $15.14 and a 200-day simple moving average of $19.93. Owens & Minor has a 1-year low of $12.36 and a 1-year high of $28.35. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -30.67, a PEG ratio of 0.50 and a beta of 0.25. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.09 and a quick ratio of 0.51.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.65 billion. Owens & Minor had a positive return on equity of 14.66% and a negative net margin of 0.40%. Owens & Minor’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. On average, equities research analysts expect that Owens & Minor will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Owens & Minor news, Director Mark A. Beck sold 9,344 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $17.25, for a total value of $161,184.00. Following the completion of the transaction, the director now owns 11,154 shares in the company, valued at $192,406.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Alexander J. Bruni sold 10,568 shares of the stock in a transaction dated 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 directly owns 49,950 shares of the company’s stock, valued at approximately $887,112. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Mark A. Beck sold 9,344 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $17.25, for a total transaction of $161,184.00. Following the completion of the sale, the director now owns 11,154 shares in the company, valued at $192,406.50. The disclosure for this sale can be found here. Insiders sold 29,892 shares of company stock valued at $521,725 over the last ninety days. Corporate insiders own 3.59% of the company’s stock.

Institutional Investors Weigh In On Owens & Minor

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Riverview Trust Co acquired a new stake in Owens & Minor during the first quarter worth about $25,000. Quarry LP grew its holdings in shares of Owens & Minor by 290.1% during 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 period. Quest Partners LLC acquired a new stake in Owens & Minor during the 4th quarter worth approximately $41,000. Hexagon Capital Partners LLC raised its holdings in Owens & Minor by 1,240.2% in the first quarter. Hexagon Capital Partners LLC now owns 1,568 shares of the company’s stock valued at $43,000 after buying an additional 1,451 shares during the period. Finally, Innealta Capital LLC acquired a new position in Owens & Minor during the second quarter valued at approximately $43,000. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

Owens & Minor Company Profile

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.