Owens & Minor (NYSE:OMI) Trading Up 4.8% – Still a Buy?

Owens & Minor, Inc. (NYSE:OMI) shares were up 4.8% on Wednesday . The stock traded as high as $14.57 and last traded at $14.51. Approximately 250,040 shares were traded during trading, a decline of 40% from the average daily volume of 414,249 shares. The stock had previously closed at $13.84.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OMI. Barclays lowered their price objective on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. UBS Group dropped their price target on Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Robert W. Baird decreased their price objective on Owens & Minor from $19.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Finally, 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 research note on Tuesday, November 5th. Two investment 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.50.

Owens & Minor Stock Performance

The firm has a fifty day moving average price of $13.17 and a 200 day moving average price of $14.21. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11. The firm has a market cap of $1.07 billion, a PE ratio of -21.42, a price-to-earnings-growth ratio of 0.48 and a beta of 0.46.

Owens & Minor (NYSE:OMI) last issued its earnings results on Monday, November 4th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. Owens & Minor’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts expect that Owens & Minor, Inc. will post 1.49 earnings per share for the current fiscal year.

Insider Activity at Owens & Minor

In other news, CFO Jonathan A. Leon sold 5,282 shares of the company’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 value of $62,433.24. Following the transaction, the chief financial officer now directly owns 130,822 shares in the company, valued at approximately $1,546,316.04. This represents a 3.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.59% of the stock is currently owned by insiders.

Institutional Trading of Owens & Minor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP increased its stake in 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 buying an additional 1,561 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Owens & Minor by 76.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company’s stock valued at $43,000 after acquiring an additional 1,356 shares in the last quarter. Blue Trust Inc. boosted its holdings in Owens & Minor by 176.8% in the third quarter. Blue Trust Inc. now owns 2,787 shares of the company’s stock valued at $44,000 after purchasing an additional 1,780 shares during the period. Canada Pension Plan Investment Board acquired a new position in Owens & Minor during the 2nd quarter worth $82,000. Finally, Meeder Asset Management Inc. increased its holdings in Owens & Minor by 844.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 9,016 shares of the company’s stock worth $141,000 after purchasing an additional 8,061 shares during the period. Hedge funds and other 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.