Owens & Minor (NYSE:OMI) Trading Down 5.3% Following Insider Selling

Owens & Minor, Inc. (NYSE:OMI) shares traded down 5.3% on Tuesday after an insider sold shares in the company. The stock traded as low as $12.86 and last traded at $12.92. 116,678 shares were traded during trading, a decline of 86% from the average session volume of 822,495 shares. The stock had previously closed at $13.65.

Specifically, CFO Jonathan A. Leon sold 5,282 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $11.82, for a total transaction of $62,433.24. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

A number of research firms have commented on OMI. JPMorgan Chase & Co. decreased their target price on shares of Owens & Minor from $22.00 to $18.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 21st. StockNews.com lowered shares of Owens & Minor from a “buy” rating to a “hold” rating in a report on Monday, August 26th. UBS Group dropped their target price on shares of Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Robert W. Baird decreased their price target on Owens & Minor from $19.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Finally, Barclays dropped their price objective on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. Two 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 MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.50.

Owens & Minor Price Performance

The company’s 50-day simple moving average is $13.71 and its 200 day simple moving average is $15.13. The company has a market cap of $1.02 billion, a PE ratio of -20.29, a PEG ratio of 0.43 and a beta of 0.41. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.45 and a current ratio of 1.09.

Owens & Minor (NYSE:OMI) last released its earnings results on Monday, November 4th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same period last year, the business posted $0.44 earnings per share. Owens & Minor’s revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts predict that Owens & Minor, Inc. will post 1.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Owens & Minor

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC raised its holdings in Owens & Minor by 0.8% in the third quarter. FMR LLC now owns 11,564,624 shares of the company’s stock valued at $181,449,000 after acquiring an additional 90,862 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Owens & Minor by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 8,749,866 shares of the company’s stock valued at $242,459,000 after purchasing an additional 162,182 shares in the last quarter. Deerfield Management Company L.P. Series C raised its holdings in shares of Owens & Minor by 30.6% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 6,371,440 shares of the company’s stock valued at $86,014,000 after purchasing an additional 1,493,852 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Owens & Minor by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,534,204 shares of the company’s stock worth $61,213,000 after purchasing an additional 76,599 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Owens & Minor by 2.6% during the third quarter. State Street Corp now owns 3,064,547 shares of the company’s stock worth $48,083,000 after purchasing an additional 78,985 shares in the last quarter. 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.