Owens & Minor (NYSE:OMI) Trading Up 9.3% – Time to Buy?

Owens & Minor, Inc. (NYSE:OMI)’s stock price rose 9.3% on Monday . The stock traded as high as $13.58 and last traded at $13.50. Approximately 215,771 shares traded hands during trading, a decline of 74% from the average daily volume of 822,156 shares. The stock had previously closed at $12.35.

Analyst Upgrades and Downgrades

OMI has been the subject of a number of research reports. Barclays lowered their target price on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. StockNews.com lowered shares of Owens & Minor from a “buy” rating to a “hold” rating in a report on Monday, August 26th. Robert W. Baird cut their price objective on shares of Owens & Minor from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. UBS Group lowered their target price on Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. decreased their price objective on Owens & Minor from $22.00 to $18.00 and set an “underweight” rating for the company in a report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.50.

Owens & Minor Trading Up 0.9 %

The business’s 50 day simple moving average is $13.65 and its 200 day simple moving average is $15.09. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -20.45, a PEG ratio of 0.47 and a beta of 0.41. 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 (NYSE:OMI) last issued its earnings results on Monday, November 4th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period last year, the business posted $0.44 EPS. Owens & Minor’s revenue was up 5.0% on a year-over-year basis. On average, research analysts expect that Owens & Minor, Inc. will post 1.49 EPS for the current fiscal year.

Insider Activity at Owens & Minor

In other Owens & Minor news, CFO Jonathan A. Leon sold 5,282 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $11.82, for a total transaction of $62,433.24. Following the completion of the sale, the chief financial officer now directly owns 130,822 shares in the company, valued at $1,546,316.04. This trade represents a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.62% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in shares of Owens & Minor by 6.5% during the 3rd quarter. Franklin Resources Inc. now owns 61,223 shares of the company’s stock worth $961,000 after purchasing an additional 3,743 shares in the last quarter. Geode Capital Management LLC grew its stake in Owens & Minor by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,711,453 shares of the company’s stock worth $26,858,000 after buying an additional 13,164 shares in the last quarter. Vestcor Inc raised its position in shares of Owens & Minor by 624.2% in the 3rd quarter. Vestcor Inc now owns 41,303 shares of the company’s stock valued at $648,000 after buying an additional 35,600 shares in the last quarter. Barclays PLC lifted its holdings in shares of Owens & Minor by 354.8% during the 3rd quarter. Barclays PLC now owns 133,702 shares of the company’s stock worth $2,099,000 after acquiring an additional 104,305 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of Owens & Minor by 126.0% during the 3rd quarter. Jane Street Group LLC now owns 186,280 shares of the company’s stock worth $2,923,000 after acquiring an additional 103,871 shares in the last quarter. Institutional investors own 98.04% of the company’s stock.

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.