Owens & Minor (NYSE:OMI) Given New $18.50 Price Target at Citigroup

Owens & Minor (NYSE:OMI) had its target price decreased by Citigroup from $21.00 to $18.50 in a research note published on Tuesday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

OMI has been the subject of several other reports. Robert W. Baird reduced their target price on Owens & Minor from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of Owens & Minor from $22.00 to $18.00 and set an “underweight” rating for the company in a research note on Wednesday, August 21st. StockNews.com downgraded shares of Owens & Minor from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Finally, Barclays dropped 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. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.50.

Owens & Minor Stock Performance

Shares of OMI opened at $11.78 on Tuesday. The firm has a market cap of $908.24 million, a price-to-earnings ratio of -21.04, a price-to-earnings-growth ratio of 0.43 and a beta of 0.41. The company’s fifty day moving average is $14.54 and its 200-day moving average is $16.19. The company has a quick ratio of 0.51, a current ratio of 1.09 and a debt-to-equity ratio of 2.17. Owens & Minor has a 12 month low of $11.42 and a 12 month high of $28.35.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. Owens & Minor had a negative net margin of 0.40% and a positive return on equity of 14.66%. The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the prior year, the company posted $0.44 earnings per share. Owens & Minor’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities analysts expect that Owens & Minor will post 1.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OMI. Victory Capital Management Inc. grew its position in Owens & Minor by 19.2% during the third quarter. Victory Capital Management Inc. now owns 153,416 shares of the company’s stock worth $2,407,000 after buying an additional 24,722 shares in the last quarter. Wolverine Asset Management LLC increased its holdings in Owens & Minor by 21.1% in the 3rd quarter. Wolverine Asset Management LLC now owns 166,430 shares of the company’s stock valued at $2,611,000 after buying an additional 29,000 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Owens & Minor by 383.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 29,376 shares of the company’s stock valued at $461,000 after buying an additional 23,305 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Owens & Minor by 176.8% during 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 during the period. Finally, Inspire Advisors LLC acquired a new stake in shares of Owens & Minor during the 3rd quarter valued at about $217,000. Institutional investors and hedge funds 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.