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

Owens & Minor (NYSE:OMI) had its price objective decreased by Robert W. Baird from $28.00 to $24.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 26.92% from the stock’s current price.

Several other brokerages also recently issued reports on OMI. Leerink Partnrs reissued a “market perform” rating on shares of Owens & Minor in a research note on Monday, February 26th. Barclays raised their price target on Owens & Minor from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Citigroup upped their price objective on Owens & Minor from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, April 30th. UBS Group decreased their target price on Owens & Minor from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, January 29th. Finally, SVB Leerink started coverage on shares of Owens & Minor in a report on Monday, February 26th. They issued a “market perform” rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $23.29.

Owens & Minor Stock Performance

NYSE OMI opened at $18.91 on Monday. The business’s 50 day moving average price is $25.14 and its 200-day moving average price is $21.56. Owens & Minor has a fifty-two week low of $13.64 and a fifty-two week high of $28.35. The company has a market cap of $1.45 billion, a P/E ratio of -37.08, a P/E/G ratio of 0.57 and a beta of 0.52. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.56 and a current ratio of 1.16.

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

Insider Activity

In related news, SVP Michael Wayne Lowry sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 71,654 shares of the company’s stock, valued at $1,791,350. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Jonathan A. Leon sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 84,673 shares in the company, valued at $2,103,277.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Michael Wayne Lowry sold 10,000 shares of the business’s stock in a transaction that occurred on 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 approximately $1,791,350. The disclosure for this sale can be found here. Insiders own 2.62% of the company’s stock.

Institutional Trading of Owens & Minor

Several hedge funds and other institutional investors have recently bought and sold shares of OMI. Deerfield Management Company L.P. Series C lifted its stake in shares of Owens & Minor by 35.6% during the 3rd quarter. Deerfield Management Company L.P. Series C now owns 6,435,000 shares of the company’s stock worth $103,990,000 after purchasing an additional 1,690,000 shares during the last quarter. FMR LLC lifted its position in shares of Owens & Minor by 10.6% during the third quarter. FMR LLC now owns 11,479,209 shares of the company’s stock valued at $185,504,000 after buying an additional 1,103,275 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Owens & Minor by 278.0% in the 3rd quarter. Deutsche Bank AG now owns 694,248 shares of the company’s stock valued at $11,219,000 after buying an additional 510,596 shares in the last quarter. Norges Bank purchased a new position in shares of Owens & Minor in the 4th quarter worth approximately $9,160,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Owens & Minor by 8.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,210,991 shares of the company’s stock worth $81,148,000 after acquiring an additional 327,002 shares in the last quarter. Institutional investors own 98.04% of the company’s stock.

Owens & Minor Company Profile

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.