Citigroup Cuts Owens & Minor (NYSE:OMI) Price Target to $11.00

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

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

Owens & Minor Stock Up 2.6 %

Shares of NYSE OMI opened at $6.95 on Thursday. Owens & Minor has a 52-week low of $6.07 and a 52-week high of $25.82. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The company’s 50-day simple moving average is $8.26 and its 200-day simple moving average is $11.49. The firm has a market cap of $536.54 million, a price-to-earnings ratio of -10.68, a price-to-earnings-growth ratio of 0.20 and a beta of 1.02.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings data on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Owens & Minor’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. Equities analysts predict that Owens & Minor will post 1.51 EPS for the current fiscal year.

Owens & Minor announced that its board has authorized a stock repurchase plan on Friday, February 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 13.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Owens & Minor

In related news, major shareholder Coliseum Capital Management, L acquired 354,901 shares of Owens & Minor stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $9.19 per share, for a total transaction of $3,261,540.19. Following the acquisition, the insider now owns 9,824,599 shares in the company, valued at approximately $90,288,064.81. This represents a 3.75 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders bought 2,718,412 shares of company stock worth $24,495,308 in the last 90 days. Insiders own 3.69% of the company’s stock.

Institutional Investors Weigh In On Owens & Minor

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC raised its position in Owens & Minor by 758.3% in the fourth quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock valued at $27,000 after purchasing an additional 1,820 shares during the period. Versant Capital Management Inc boosted its holdings in Owens & Minor by 537.6% during the 1st quarter. Versant Capital Management Inc now owns 3,201 shares of the company’s stock valued at $29,000 after acquiring an additional 2,699 shares during the period. Parallel Advisors LLC boosted its holdings in Owens & Minor by 1,387.0% during the 1st quarter. Parallel Advisors LLC now owns 3,316 shares of the company’s stock valued at $30,000 after acquiring an additional 3,093 shares during the period. Blue Trust Inc. increased its stake in Owens & Minor by 57.4% during the fourth quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock worth $57,000 after purchasing an additional 1,600 shares during the period. Finally, KBC Group NV lifted its position in shares of Owens & Minor by 98.2% during the fourth quarter. KBC Group NV now owns 4,434 shares of the company’s stock worth $58,000 after purchasing an additional 2,197 shares in the last quarter. 98.04% of the stock is 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.