StockNews.com Upgrades Owens & Minor (NYSE:OMI) to “Buy”

StockNews.com upgraded shares of Owens & Minor (NYSE:OMIGet Rating) from a hold rating to a buy rating in a research report released on Tuesday.

OMI has been the topic of several other reports. Zacks Investment Research raised shares of Owens & Minor from a hold rating to a buy rating and set a $50.00 target price on the stock in a research note on Friday, April 1st. Citigroup assumed coverage on shares of Owens & Minor in a research note on Tuesday, April 26th. They set a buy rating on the stock. Finally, Credit Suisse Group increased their target price on shares of Owens & Minor from $42.00 to $43.00 and gave the stock a neutral rating in a research note on Monday, February 28th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $49.80.

OMI opened at $36.15 on Tuesday. Owens & Minor has a twelve month low of $29.85 and a twelve month high of $49.16. The company has a quick ratio of 0.61, a current ratio of 1.73 and a debt-to-equity ratio of 1.01. The company has a fifty day moving average of $42.07 and a 200-day moving average of $41.72. The stock has a market cap of $2.77 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.14 and a beta of 0.46.

Owens & Minor (NYSE:OMIGet Rating) last issued its earnings results on Tuesday, May 3rd. The company reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.14. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.31 billion. Owens & Minor had a net margin of 2.26% and a return on equity of 35.76%. Owens & Minor’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.57 earnings per share. Sell-side analysts anticipate that Owens & Minor will post 3.53 EPS for the current fiscal year.

In other news, Director Robert J. Henkel purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 2nd. The shares were bought at an average cost of $35.00 per share, with a total value of $70,000.00. Following the completion of the transaction, the director now directly owns 26,000 shares of the company’s stock, valued at $910,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.09% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in OMI. Allspring Global Investments Holdings LLC bought a new position in shares of Owens & Minor during the fourth quarter valued at about $124,970,000. Wellington Management Group LLP lifted its position in shares of Owens & Minor by 47.5% during the third quarter. Wellington Management Group LLP now owns 7,956,520 shares of the company’s stock valued at $248,959,000 after purchasing an additional 2,563,655 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in Owens & Minor during the third quarter worth about $1,348,000. William Blair Investment Management LLC increased its holdings in Owens & Minor by 114.3% during the third quarter. William Blair Investment Management LLC now owns 2,160,292 shares of the company’s stock worth $67,596,000 after buying an additional 1,152,114 shares during the last quarter. Finally, Artemis Investment Management LLP purchased a new stake in Owens & Minor during the fourth quarter worth about $33,656,000. 95.69% of the stock is currently owned by institutional investors.

About Owens & Minor (Get Rating)

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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