Owens & Minor (NYSE:OMI) Given New $11.00 Price Target at Citigroup

Owens & Minor (NYSE:OMI) had its price objective trimmed by Citigroup from $13.00 to $11.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. Robert W. Baird raised their price target on Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. lowered their target price on Owens & Minor from $14.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, March 10th. Finally, UBS Group cut their price target on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Owens & Minor currently has an average rating of “Hold” and a consensus target price of $12.50.

Owens & Minor Stock Up 2.6 %

Shares of NYSE:OMI opened at $6.95 on Thursday. The company has a market capitalization of $536.54 million, a price-to-earnings ratio of -10.68, a PEG ratio of 0.20 and a beta of 1.02. Owens & Minor has a 12-month low of $6.07 and a 12-month high of $25.82. The business has a 50-day moving average price of $8.29 and a 200 day moving average price of $11.57. 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 announced its quarterly 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 business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same period last year, the business earned $0.69 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Sell-side analysts expect that Owens & Minor will post 1.51 EPS for the current year.

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

Insider Buying and Selling at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L acquired 354,901 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $9.19 per share, with a total value of $3,261,540.19. Following the transaction, the insider now owns 9,824,599 shares in the company, valued at approximately $90,288,064.81. This trade represents a 3.75 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 2,718,412 shares of company stock valued at $24,495,308 in the last quarter. Corporate insiders own 3.59% of the company’s stock.

Hedge Funds Weigh In On Owens & Minor

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC raised its stake 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 buying an additional 1,820 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Owens & Minor by 537.6% in the 1st quarter. Versant Capital Management Inc now owns 3,201 shares of the company’s stock valued at $29,000 after acquiring an additional 2,699 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Owens & Minor by 1,387.0% during the 1st quarter. Parallel Advisors LLC now owns 3,316 shares of the company’s stock worth $30,000 after acquiring an additional 3,093 shares in the last quarter. Blue Trust Inc. lifted its stake in 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 purchasing an additional 1,600 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Owens & Minor by 98.2% in the fourth quarter. KBC Group NV now owns 4,434 shares of the company’s stock valued at $58,000 after purchasing an additional 2,197 shares in the last quarter. Institutional investors and hedge funds own 98.04% of the company’s stock.

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.