Owens & Minor (NYSE:OMI) Shares Gap Down to $24.51

Owens & Minor, Inc. (NYSE:OMI)’s share price gapped down before the market opened on Friday . The stock had previously closed at $24.51, but opened at $23.86. Owens & Minor shares last traded at $19.49, with a volume of 562,167 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OMI. Robert W. Baird raised their price target on Owens & Minor from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Citigroup raised their price objective on shares of Owens & Minor from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday. UBS Group cut their target price on shares of Owens & Minor from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, January 29th. TheStreet upgraded shares of Owens & Minor from a “d+” rating to a “c-” rating in a research report on Monday, March 4th. Finally, SVB Leerink began coverage on shares of Owens & Minor in a research report on Monday, February 26th. They set a “market perform” rating and a $24.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.86.

Owens & Minor Price Performance

The company has a quick ratio of 0.52, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The company’s 50-day moving average is $25.46 and its 200-day moving average is $21.37. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -33.72, a price-to-earnings-growth ratio of 0.76 and a beta of 0.52.

Owens & Minor (NYSE:OMI) last posted its earnings results on Tuesday, February 20th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. Owens & Minor had a positive return on equity of 11.62% and a negative net margin of 0.40%. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the company earned $0.28 EPS. Owens & Minor’s revenue was up 4.1% on a year-over-year basis. Equities research analysts expect that Owens & Minor, Inc. will post 1.54 earnings per share for the current fiscal year.

Insider Activity at Owens & Minor

In other news, SVP Michael Wayne Lowry sold 10,000 shares of Owens & Minor stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $25.00, for a total value of $250,000.00. Following the completion of the transaction, the senior vice president now owns 71,654 shares in the company, valued at $1,791,350. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Owens & Minor news, SVP Jonathan A. Leon sold 5,000 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $24.84, for a total transaction of $124,200.00. Following the sale, the senior vice president now owns 84,673 shares of the company’s stock, valued at approximately $2,103,277.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael Wayne Lowry sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the completion of the transaction, the senior vice president now directly owns 71,654 shares of the company’s stock, valued at $1,791,350. The disclosure for this sale can be found here. 3.59% of the stock is currently owned by insiders.

Institutional Trading of Owens & Minor

Several hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in Owens & Minor by 10.6% in the 3rd quarter. FMR LLC now owns 11,479,209 shares of the company’s stock valued at $185,504,000 after acquiring an additional 1,103,275 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Owens & Minor by 0.3% during the third quarter. Vanguard Group Inc. now owns 8,592,904 shares of the company’s stock worth $138,861,000 after purchasing an additional 25,891 shares during the last quarter. Deerfield Management Company L.P. Series C grew its position in Owens & Minor by 35.6% in the third quarter. Deerfield Management Company L.P. Series C now owns 6,435,000 shares of the company’s stock valued at $103,990,000 after purchasing an additional 1,690,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Owens & Minor by 8.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,210,991 shares of the company’s stock valued at $81,148,000 after buying an additional 327,002 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Owens & Minor by 12.0% during the 3rd quarter. Invesco Ltd. now owns 1,081,460 shares of the company’s stock worth $17,476,000 after buying an additional 115,995 shares in the last quarter. 98.04% of the stock is 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.