Owens & Minor (NYSE:OMI) Shares Up 4.8% – Time to Buy?

Owens & Minor, Inc. (NYSE:OMI)’s stock price shot up 4.8% during mid-day trading on Wednesday . The stock traded as high as $14.57 and last traded at $14.51. 250,040 shares were traded during trading, a decline of 40% from the average session volume of 414,249 shares. The stock had previously closed at $13.84.

Wall Street Analysts Forecast Growth

OMI has been the topic of a number of research analyst reports. Citigroup lowered their price target on Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a report on Tuesday, November 5th. UBS Group lowered their target price on shares of Owens & Minor from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Robert W. Baird cut their target price on shares of Owens & Minor from $19.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Finally, Barclays decreased their price target on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $18.50.

Owens & Minor Stock Performance

The business’s fifty day moving average price is $13.11 and its two-hundred day moving average price is $14.20. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.45 and a current ratio of 1.09. The stock has a market capitalization of $1.11 billion, a P/E ratio of -22.12, a P/E/G ratio of 0.48 and a beta of 0.46.

Owens & Minor (NYSE:OMI) last posted 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 business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.68 billion. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. As a group, sell-side analysts forecast that Owens & Minor, Inc. will post 1.49 earnings per share for the current year.

Insider Activity

In related news, CFO Jonathan A. Leon sold 5,282 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $11.82, for a total value of $62,433.24. Following the transaction, the chief financial officer now owns 130,822 shares of the company’s stock, valued at $1,546,316.04. This trade represents a 3.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.59% of the company’s stock.

Institutional Trading of Owens & Minor

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP lifted its position in shares of Owens & Minor by 290.1% during the second quarter. Quarry LP now owns 2,099 shares of the company’s stock valued at $28,000 after buying an additional 1,561 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Owens & Minor by 76.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company’s stock valued at $43,000 after acquiring an additional 1,356 shares in the last quarter. Blue Trust Inc. grew its holdings in Owens & Minor by 176.8% in the third quarter. Blue Trust Inc. now owns 2,787 shares of the company’s stock worth $44,000 after purchasing an additional 1,780 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Owens & Minor during the second quarter worth $82,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Owens & Minor by 844.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 9,016 shares of the company’s stock valued at $141,000 after purchasing an additional 8,061 shares during the last quarter. 98.04% of the stock is currently owned by institutional investors.

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.