Owens & Minor (NYSE:OMI) Price Target Raised to $38.00

Owens & Minor (NYSE:OMI) had its price target lifted by Credit Suisse Group from $34.00 to $38.00 in a report issued on Tuesday, Analyst Price Targets reports. Credit Suisse Group currently has a neutral rating on the stock.

OMI has been the subject of a number of other reports. Barclays raised their target price on Owens & Minor from $23.00 to $33.00 and gave the stock an equal weight rating in a research report on Thursday, February 25th. Robert W. Baird raised Owens & Minor to an outperform rating and raised their target price for the stock from $45.00 to $50.00 in a research report on Friday, March 26th. Finally, Zacks Investment Research raised Owens & Minor from a hold rating to a strong-buy rating and set a $39.00 target price for the company in a research report on Tuesday, March 2nd. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Owens & Minor currently has a consensus rating of Buy and a consensus price target of $30.05.

Shares of OMI opened at $31.84 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 0.70 and a debt-to-equity ratio of 2.44. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of -32.16, a PEG ratio of 0.24 and a beta of 0.26. The stock has a 50 day moving average of $36.66 and a 200 day moving average of $30.54. Owens & Minor has a 12 month low of $6.62 and a 12 month high of $39.45.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings results on Wednesday, May 5th. The company reported $1.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.58. Owens & Minor had a positive return on equity of 18.07% and a negative net margin of 0.72%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the business posted $0.04 earnings per share. Owens & Minor’s revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts predict that Owens & Minor will post 1.95 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 15th will be given a $0.0025 dividend. The ex-dividend date of this dividend is Monday, June 14th. This is a boost from Owens & Minor’s previous quarterly dividend of $0.00. This represents a $0.01 annualized dividend and a dividend yield of 0.03%. Owens & Minor’s payout ratio is 1.79%.

In related news, insider Shana Carol Neal sold 4,791 shares of Owens & Minor stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $27.54, for a total transaction of $131,944.14. Following the completion of the sale, the insider now owns 161,028 shares of the company’s stock, valued at $4,434,711.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher M. Lowery sold 33,973 shares of Owens & Minor stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $36.65, for a total value of $1,245,110.45. Following the sale, the insider now directly owns 373,269 shares of the company’s stock, valued at approximately $13,680,308.85. The disclosure for this sale can be found here. Insiders have sold 109,566 shares of company stock valued at $3,904,540 in the last three months. 2.15% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Mutual of America Capital Management LLC lifted its stake in Owens & Minor by 7.1% during the first quarter. Mutual of America Capital Management LLC now owns 9,816 shares of the company’s stock worth $369,000 after purchasing an additional 652 shares during the last quarter. Profund Advisors LLC lifted its stake in Owens & Minor by 8.6% during the first quarter. Profund Advisors LLC now owns 8,566 shares of the company’s stock worth $322,000 after purchasing an additional 681 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Owens & Minor during the first quarter worth about $31,000. GPS Wealth Strategies Group LLC bought a new stake in Owens & Minor during the first quarter worth about $33,000. Finally, Graves Light Private Wealth Management Inc. bought a new stake in Owens & Minor during the fourth quarter worth about $25,000. 72.98% of the stock is owned by institutional investors.

Owens & Minor Company Profile

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company in the United States and internationally. It operates through two segments, Global Solutions and Global Products. The Global Solutions segment offers a portfolio of products and services to healthcare providers and manufacturers.

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Analyst Recommendations for Owens & Minor (NYSE:OMI)

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