Owens & Minor (NYSE:OMI) Shares Down 4.4% – Should You Sell?

Shares of Owens & Minor, Inc. (NYSE:OMI) traded down 4.4% during mid-day trading on Thursday . The company traded as low as $9.73 and last traded at $9.65. 241,165 shares changed hands during trading, a decline of 85% from the average session volume of 1,603,606 shares. The stock had previously closed at $10.09.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on OMI shares. UBS Group reduced their price target on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Robert W. Baird lifted their price target on shares of Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Owens & Minor from $14.00 to $10.00 and set an “underweight” rating for the company in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Owens & Minor presently has a consensus rating of “Hold” and a consensus price target of $13.75.

Owens & Minor Trading Down 5.5 %

The business has a 50 day moving average price of $10.42 and a 200 day moving average price of $12.61. The company has a market capitalization of $696.38 million, a P/E ratio of -13.87, a PEG ratio of 0.20 and a beta of 0.61. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11.

Owens & Minor (NYSE:OMI) last posted its earnings results on Friday, February 28th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.68 billion. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $0.69 earnings per share. Analysts anticipate that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Owens & Minor declared that its board has initiated a share repurchase plan on Friday, February 28th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 13.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, major shareholder Coliseum Capital Management, L purchased 354,901 shares of Owens & Minor stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $9.19 per share, for a total transaction of $3,261,540.19. Following the completion of the acquisition, the insider now directly owns 9,824,599 shares of the company’s stock, valued at $90,288,064.81. This represents a 3.75 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.59% of the company’s stock.

Institutional Investors Weigh In On Owens & Minor

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Inspire Advisors LLC boosted its stake in Owens & Minor by 11.2% in the 4th quarter. Inspire Advisors LLC now owns 15,350 shares of the company’s stock worth $201,000 after purchasing an additional 1,548 shares during the period. Blue Trust Inc. boosted its position in shares of Owens & Minor by 57.4% during the fourth quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock worth $57,000 after buying an additional 1,600 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Owens & Minor by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,930 shares of the company’s stock worth $561,000 after buying an additional 1,662 shares in the last quarter. Sterling Capital Management LLC raised its position in Owens & Minor by 758.3% in the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock valued at $27,000 after buying an additional 1,820 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Owens & Minor by 0.9% in the 4th quarter. Legal & General Group Plc now owns 212,061 shares of the company’s stock valued at $2,772,000 after acquiring an additional 1,991 shares in the last quarter. 98.04% of the stock is currently owned by institutional investors and hedge funds.

Owens & Minor Company Profile

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.