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

Owens & Minor (NYSE:OMI) had its target price decreased by Citigroup from $13.00 to $11.00 in a research note issued to investors on Thursday,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other analysts have also recently commented on OMI. Robert W. Baird boosted their price objective on Owens & Minor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. reduced their price objective on shares of Owens & Minor from $14.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, March 10th. Finally, UBS Group decreased their price objective on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Owens & Minor currently has a consensus rating of “Hold” and an average target price of $12.50.

Owens & Minor Price Performance

Shares of NYSE OMI opened at $6.95 on Thursday. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. The stock 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. The firm’s 50 day simple moving average is $8.29 and its 200-day simple moving average is $11.57. Owens & Minor has a 12 month low of $6.07 and a 12 month high of $25.82.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Friday, February 28th. The company reported $0.55 earnings per share for the quarter, topping 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 the consensus estimate of $2.68 billion. During the same quarter in the prior year, the firm posted $0.69 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. Analysts expect that Owens & Minor will post 1.51 EPS for the current year.

Owens & Minor declared that its Board of Directors has authorized a share repurchase plan on Friday, February 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 13.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Owens & Minor news, major shareholder Coliseum Capital Management, L acquired 1,738,511 shares of the business’s stock in a transaction on Friday, February 28th. The stock was bought at an average price of $9.39 per share, for a total transaction of $16,324,618.29. Following the acquisition, the insider now owns 9,469,698 shares in the company, valued at approximately $88,920,464.22. The trade was a 22.49 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have acquired a total of 2,718,412 shares of company stock valued at $24,495,308 in the last 90 days. 3.59% of the stock is owned by insiders.

Institutional Investors Weigh In On Owens & Minor

A number of large investors have recently made changes to their positions in OMI. Coliseum Capital Management LLC boosted its stake in Owens & Minor by 31.3% during the fourth quarter. Coliseum Capital Management LLC now owns 4,785,964 shares of the company’s stock worth $62,553,000 after buying an additional 1,141,483 shares during the last quarter. Freestone Grove Partners LP purchased a new position in shares of Owens & Minor during the 4th quarter worth $5,125,000. Charles Schwab Investment Management Inc. boosted its position in shares of Owens & Minor by 13.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company’s stock valued at $30,127,000 after acquiring an additional 276,807 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Owens & Minor by 77.0% in the fourth quarter. Deutsche Bank AG now owns 495,111 shares of the company’s stock valued at $6,471,000 after purchasing an additional 215,455 shares during the period. Finally, Norges Bank purchased a new stake in shares of Owens & Minor in the fourth quarter valued at about $2,465,000. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

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.