Zacks Investment Research upgraded shares of Owens & Minor, Inc. (NYSE:OMI) from a hold rating to a buy rating in a research report report published on Friday morning. They currently have $34.00 target price on the stock.
According to Zacks, “Owens & Minor, Inc. is one of the nation’s largest distributors of national name brand medical/surgical supplies. With distribution centers located throughout the United States, the company serves hospitals, integrated healthcare systems and group purchasing organizations. In addition to a diverse product offering, Owens & Minor offers innovative services in supply chain management, logistics and technology, helping customers control healthcare costs and improve inventory management. “
Several other research firms also recently commented on OMI. Jefferies Group LLC set a $36.00 price objective on Owens & Minor and gave the stock a hold rating in a report on Monday, May 22nd. UBS AG restated a sell rating and set a $29.50 price objective (down from $30.50) on shares of Owens & Minor in a report on Thursday. TheStreet downgraded Owens & Minor from a b rating to a c+ rating in a report on Thursday, May 4th. Finally, BidaskClub downgraded Owens & Minor from a hold rating to a sell rating in a report on Tuesday, June 20th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $32.88.
Owens & Minor (NYSE:OMI) traded down 2.10% during trading on Friday, hitting $28.39. The stock had a trading volume of 812,058 shares. The stock has a 50 day moving average price of $31.96 and a 200-day moving average price of $33.76. Owens & Minor has a 12 month low of $28.31 and a 12 month high of $37.02. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 18.06 and a beta of 1.01.
Owens & Minor (NYSE:OMI) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.38 billion. Owens & Minor had a return on equity of 11.64% and a net margin of 1.02%. Owens & Minor’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. On average, equities analysts predict that Owens & Minor will post $1.92 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.2575 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.03 annualized dividend and a yield of 3.63%. Owens & Minor’s payout ratio is currently 65.19%.
In other news, EVP Rony Camil Kordahi sold 2,231 shares of Owens & Minor stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $32.07, for a total value of $71,548.17. Following the transaction, the executive vice president now directly owns 27,555 shares in the company, valued at approximately $883,688.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Erika T. Davis sold 9,317 shares of Owens & Minor stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $32.26, for a total value of $300,566.42. Following the completion of the transaction, the senior vice president now owns 63,979 shares in the company, valued at $2,063,962.54. The disclosure for this sale can be found here. Insiders have sold a total of 12,848 shares of company stock worth $413,962 over the last 90 days. 1.68% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in OMI. PNC Financial Services Group Inc. increased its position in shares of Owens & Minor by 0.3% in the first quarter. PNC Financial Services Group Inc. now owns 7,269 shares of the company’s stock worth $251,000 after buying an additional 20 shares in the last quarter. Security National Bank of Sioux City Iowa IA increased its position in shares of Owens & Minor by 0.3% in the first quarter. Security National Bank of Sioux City Iowa IA now owns 18,604 shares of the company’s stock worth $644,000 after buying an additional 49 shares in the last quarter. Alpha Windward LLC increased its position in shares of Owens & Minor by 0.4% in the first quarter. Alpha Windward LLC now owns 13,800 shares of the company’s stock worth $477,000 after buying an additional 60 shares in the last quarter. Blair William & Co. IL increased its position in shares of Owens & Minor by 0.5% in the second quarter. Blair William & Co. IL now owns 20,638 shares of the company’s stock worth $664,000 after buying an additional 97 shares in the last quarter. Finally, Creative Planning increased its position in shares of Owens & Minor by 2.9% in the second quarter. Creative Planning now owns 4,021 shares of the company’s stock worth $129,000 after buying an additional 113 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.
Owens & Minor Company Profile
Owens & Minor, Inc is a healthcare services company that connects the world of medical products to the point of care. The Company provides supply chain assistance to the providers of healthcare services and the manufacturers of healthcare products, supplies and devices. The Company’s segments include Domestic, International and Clinical & Procedural Solutions (CPS).
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