Owens & Minor (NYSE:OMI) Trading 2.7% Higher – Time to Buy?

Owens & Minor, Inc. (NYSE:OMI) shares were up 2.7% during mid-day trading on Friday . The stock traded as high as $8.69 and last traded at $8.73. Approximately 377,701 shares changed hands during trading, a decline of 63% from the average daily volume of 1,011,352 shares. The stock had previously closed at $8.50.

Wall Street Analyst Weigh In

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

Owens & Minor Price Performance

The business’s fifty day moving average price is $9.96 and its 200 day moving average price is $12.43. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. The stock has a market cap of $664.17 million, a P/E ratio of -13.23, a PEG ratio of 0.20 and a beta of 0.61.

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

Owens & Minor declared that its board has initiated a stock buyback plan on Friday, February 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 13.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Owens & Minor

In related news, major shareholder Coliseum Capital Management, L bought 354,901 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $9.19 per share, with a total value of $3,261,540.19. Following the transaction, the insider now directly owns 9,824,599 shares in the company, valued at approximately $90,288,064.81. This trade represents a 3.75 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.59% of the stock is owned by company insiders.

Institutional Investors Weigh In On Owens & Minor

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC boosted its holdings in Owens & Minor by 758.3% in the fourth quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock valued at $27,000 after acquiring an additional 1,820 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Owens & Minor by 57.4% in the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock valued at $57,000 after purchasing an additional 1,600 shares during the last quarter. KBC Group NV increased its position in shares of Owens & Minor by 98.2% during the fourth quarter. KBC Group NV now owns 4,434 shares of the company’s stock worth $58,000 after buying an additional 2,197 shares during the period. Cetera Investment Advisers bought a new position in Owens & Minor during the fourth quarter worth $140,000. Finally, Guggenheim Capital LLC acquired a new position in Owens & Minor in the fourth quarter valued at $166,000. Institutional investors and hedge funds own 98.04% of the company’s stock.

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.