Owens & Minor (NYSE:OMI) Trading Down 6% on Analyst Downgrade

Owens & Minor, Inc. (NYSE:OMI)’s share price dropped 6% during trading on Thursday after UBS Group lowered their price target on the stock from $25.00 to $13.00. UBS Group currently has a buy rating on the stock. Owens & Minor traded as low as $7.69 and last traded at $7.70. Approximately 943,408 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 1,001,335 shares. The stock had previously closed at $8.19.

Other equities research analysts have also recently issued research reports about the stock. Citigroup lowered their target price on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Robert W. Baird dropped their target price on Owens & Minor from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Finally, Barclays dropped their target price on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.79.

Insider Buying and Selling at Owens & Minor

In other Owens & Minor news, CFO Jonathan A. Leon sold 5,282 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $11.82, for a total transaction of $62,433.24. Following the completion of the transaction, the chief financial officer now owns 130,822 shares of the company’s stock, valued at $1,546,316.04. This represents a 3.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.59% of the company’s stock.

Institutional Investors Weigh In On Owens & Minor

A number of large investors have recently modified their holdings of OMI. Foundry Partners LLC purchased a new stake in shares of Owens & Minor in the 3rd quarter worth approximately $5,238,000. Charles Schwab Investment Management Inc. grew its position in Owens & Minor by 13.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company’s stock valued at $30,127,000 after purchasing an additional 276,807 shares during the last quarter. Norges Bank bought a new stake in Owens & Minor during the 4th quarter valued at about $2,465,000. Algert Global LLC raised its holdings in Owens & Minor by 189.4% in the third quarter. Algert Global LLC now owns 276,438 shares of the company’s stock worth $4,337,000 after buying an additional 180,922 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Owens & Minor by 374.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 223,074 shares of the company’s stock worth $3,500,000 after buying an additional 176,029 shares during the last quarter. Institutional investors own 98.04% of the company’s stock.

Owens & Minor Price Performance

The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The firm has a market capitalization of $599.84 million, a PE ratio of -11.90, a PEG ratio of 0.25 and a beta of 0.48. The firm’s fifty day simple moving average is $13.05 and its 200-day simple moving average is $13.95.

About Owens & Minor

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.