Owens & Minor (NYSE:OMI) Shares Pass Above 200-Day Moving Average – What’s Next?

Shares of Owens & Minor, Inc. (NYSE:OMI) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.28 and traded as high as $15.18. Owens & Minor shares last traded at $14.97, with a volume of 315,763 shares trading hands.

Wall Street Analysts Forecast Growth

OMI has been the subject of several recent research reports. Robert W. Baird cut their price target on Owens & Minor from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Citigroup reduced their target price on Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. UBS Group dropped their price objective on Owens & Minor from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Barclays cut 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 investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.50.

Owens & Minor Stock Up 0.9 %

The firm has a 50-day simple moving average of $13.61 and a 200 day simple moving average of $14.29. The company has a market capitalization of $1.15 billion, a PE ratio of -23.03, a price-to-earnings-growth ratio of 0.42 and a beta of 0.46. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data 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. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.68 billion. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. Owens & Minor’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. On average, research analysts predict that Owens & Minor, Inc. will post 1.49 EPS for the current fiscal year.

Insider Buying and Selling at Owens & Minor

In other news, CFO Jonathan A. Leon sold 5,282 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 130,822 shares in the company, valued at approximately $1,546,316.04. This trade represents a 3.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.59% of the company’s stock.

Hedge Funds Weigh In On Owens & Minor

Hedge funds have recently bought and sold shares of the business. Royce & Associates LP increased its holdings in shares of Owens & Minor by 179.4% in the third quarter. Royce & Associates LP now owns 80,914 shares of the company’s stock valued at $1,270,000 after purchasing an additional 51,955 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Owens & Minor by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,534,204 shares of the company’s stock valued at $61,213,000 after acquiring an additional 76,599 shares in the last quarter. FMR LLC lifted its position in shares of Owens & Minor by 0.8% during the 3rd quarter. FMR LLC now owns 11,564,624 shares of the company’s stock valued at $181,449,000 after buying an additional 90,862 shares during the last quarter. Dana Investment Advisors Inc. raised its holdings in shares of Owens & Minor by 35.8% in the 2nd quarter. Dana Investment Advisors Inc. now owns 609,040 shares of the company’s stock valued at $8,222,000 after acquiring an additional 160,682 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Owens & Minor by 68.4% in the third quarter. JPMorgan Chase & Co. now owns 376,830 shares of the company’s stock worth $5,912,000 after buying an additional 152,999 shares during the period. 98.04% of the stock is owned by institutional investors and hedge funds.

About Owens & Minor

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.