Owens & Minor (NYSE:OMI) Price Target Lowered to $24.00 at Robert W. Baird

Owens & Minor (NYSE:OMI) had its target price lowered by Robert W. Baird from $28.00 to $24.00 in a report published on Monday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Other analysts also recently issued reports about the company. StockNews.com upgraded Owens & Minor from a hold rating to a buy rating in a research note on Wednesday, February 21st. TheStreet upgraded Owens & Minor from a d+ rating to a c- rating in a research note on Monday, March 4th. SVB Leerink began coverage on Owens & Minor in a research note on Monday, February 26th. They issued a market perform rating and a $24.00 target price for the company. Leerink Partnrs restated a market perform rating on shares of Owens & Minor in a research note on Monday, February 26th. Finally, Barclays lifted their price target on Owens & Minor from $21.00 to $23.00 and gave the company an equal weight rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Owens & Minor presently has an average rating of Hold and a consensus price target of $23.29.

Owens & Minor Stock Up 0.9 %

Shares of Owens & Minor stock opened at $19.39 on Monday. The company has a current ratio of 1.16, a quick ratio of 0.56 and a debt-to-equity ratio of 2.17. The business has a 50-day moving average price of $25.26 and a two-hundred day moving average price of $21.53. Owens & Minor has a 1-year low of $13.64 and a 1-year high of $28.35.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings results on Friday, May 3rd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.61 billion. Owens & Minor had a positive return on equity of 12.97% and a negative net margin of 0.37%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.05 EPS. As a group, sell-side analysts expect that Owens & Minor will post 1.54 earnings per share for the current year.

Insiders Place Their Bets

In other Owens & Minor 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 transaction of $250,000.00. Following the transaction, the senior vice president now owns 71,654 shares of the company’s stock, valued at approximately $1,791,350. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Jonathan A. Leon sold 5,000 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $24.84, for a total transaction of $124,200.00. Following the completion of the transaction, the senior vice president now directly owns 84,673 shares in the company, valued at approximately $2,103,277.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael Wayne Lowry sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $25.00, for a total transaction of $250,000.00. Following the transaction, the senior vice president now owns 71,654 shares of the company’s stock, valued at $1,791,350. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Owens & Minor in the third quarter worth $600,000. Bailard Inc. bought a new position in shares of Owens & Minor during the third quarter valued at about $223,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Owens & Minor by 33.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,049 shares of the company’s stock valued at $276,000 after acquiring an additional 4,304 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Owens & Minor by 15.2% during the third quarter. Mackenzie Financial Corp now owns 20,584 shares of the company’s stock valued at $315,000 after acquiring an additional 2,714 shares during the last quarter. Finally, Strs Ohio raised its stake in shares of Owens & Minor by 10.4% during the third quarter. Strs Ohio now owns 45,800 shares of the company’s stock valued at $740,000 after acquiring an additional 4,300 shares during the last quarter. 98.04% of the stock is currently owned by hedge funds and other 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.