Owens & Minor (NYSE:OMI) Shares Gap Down to $24.51

Shares of Owens & Minor, Inc. (NYSE:OMI) gapped down prior to trading on Friday . The stock had previously closed at $24.51, but opened at $23.86. Owens & Minor shares last traded at $19.49, with a volume of 562,167 shares.

Wall Street Analysts Forecast Growth

OMI has been the subject of several research reports. TheStreet raised shares of Owens & Minor from a “d+” rating to a “c-” rating in a report on Monday, March 4th. Robert W. Baird boosted their target price on shares of Owens & Minor from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. StockNews.com upgraded shares of Owens & Minor from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. SVB Leerink started coverage on Owens & Minor in a research note on Monday, February 26th. They issued a “market perform” rating and a $24.00 price objective for the company. Finally, Barclays boosted their price target on Owens & Minor from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $23.86.

Owens & Minor Stock Down 25.7 %

The business has a 50-day moving average price of $25.46 and a 200 day moving average price of $21.37. The stock has a market capitalization of $1.39 billion, a P/E ratio of -33.72, a P/E/G ratio of 0.76 and a beta of 0.52. The company has a current ratio of 1.11, a quick ratio of 0.52 and a debt-to-equity ratio of 2.05.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. Owens & Minor had a negative net margin of 0.40% and a positive return on equity of 11.62%. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the company posted $0.28 EPS. The business’s revenue was up 4.1% on a year-over-year basis. On average, equities analysts expect that Owens & Minor, Inc. will post 1.54 EPS for the current fiscal year.

Insider Activity

In related news, SVP Michael Wayne Lowry sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $25.00, for a total value of $250,000.00. Following the completion of the sale, the senior vice president now directly owns 71,654 shares in the company, valued at $1,791,350. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Owens & Minor news, SVP Jonathan A. Leon sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $24.84, for a total transaction of $124,200.00. Following the completion of the transaction, the senior vice president now owns 84,673 shares in the company, valued at $2,103,277.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael Wayne Lowry sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the completion of the transaction, the senior vice president now owns 71,654 shares in the company, valued at $1,791,350. The disclosure for this sale can be found here. Corporate insiders own 3.59% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Invesco Ltd. increased its position in Owens & Minor by 12.0% during the 3rd quarter. Invesco Ltd. now owns 1,081,460 shares of the company’s stock valued at $17,476,000 after purchasing an additional 115,995 shares during the period. First Eagle Investment Management LLC bought a new position in Owens & Minor in the third quarter worth approximately $2,795,000. Gotham Asset Management LLC lifted its holdings in Owens & Minor by 106.4% during the third quarter. Gotham Asset Management LLC now owns 33,578 shares of the company’s stock worth $543,000 after buying an additional 17,310 shares during the period. Qube Research & Technologies Ltd lifted its holdings in Owens & Minor by 95.1% during the third quarter. Qube Research & Technologies Ltd now owns 200,739 shares of the company’s stock worth $3,244,000 after buying an additional 97,847 shares during the period. Finally, Gabelli Funds LLC bought a new stake in Owens & Minor during the 3rd quarter valued at $1,899,000. 98.04% of the stock is currently owned by hedge funds and other 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.