Owens & Minor (NYSE:OMI) Hits New 12-Month Low After Earnings Miss

Owens & Minor, Inc. (NYSE:OMI) shares hit a new 52-week low during mid-day trading on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $4.56 and last traded at $4.65, with a volume of 6046415 shares traded. The stock had previously closed at $7.09.

The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). The business had revenue of $681.90 million for the quarter, compared to the consensus estimate of $2.73 billion. Owens & Minor had a negative net margin of 3.41% and a positive return on equity of 17.09%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 EPS.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JPMorgan Chase & Co. set a $10.00 price target on Owens & Minor in a research report on Monday. UBS Group reaffirmed a “buy” rating on shares of Owens & Minor in a research report on Monday. Baird R W raised Owens & Minor from a “hold” rating to a “strong-buy” rating in a research report on Friday. Citigroup decreased their price target on Owens & Minor from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, Robert W. Baird set a $10.00 price target on Owens & Minor in a research report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.60.

Institutional Investors Weigh In On Owens & Minor

Several hedge funds have recently added to or reduced their stakes in OMI. Coliseum Capital Management LLC increased its holdings in shares of Owens & Minor by 122.0% in the first quarter. Coliseum Capital Management LLC now owns 10,624,599 shares of the company’s stock worth $95,940,000 after buying an additional 5,838,635 shares during the period. Vanguard Group Inc. increased its holdings in shares of Owens & Minor by 2.7% in the first quarter. Vanguard Group Inc. now owns 9,156,759 shares of the company’s stock worth $82,686,000 after buying an additional 241,003 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Owens & Minor by 19.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,752,960 shares of the company’s stock worth $24,859,000 after buying an additional 447,917 shares during the period. Geode Capital Management LLC increased its holdings in shares of Owens & Minor by 0.9% in the second quarter. Geode Capital Management LLC now owns 1,774,359 shares of the company’s stock worth $16,149,000 after buying an additional 15,995 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Owens & Minor by 19.9% in the first quarter. Invesco Ltd. now owns 1,716,895 shares of the company’s stock worth $15,504,000 after buying an additional 285,060 shares during the period. Institutional investors own 98.04% of the company’s stock.

Owens & Minor Stock Performance

The stock has a market cap of $358.83 million, a PE ratio of -0.98, a P/E/G ratio of 0.31 and a beta of 1.04. The company has a fifty day moving average price of $7.77 and a 200 day moving average price of $8.06. The company has a quick ratio of 0.41, a current ratio of 1.13 and a debt-to-equity ratio of 3.32.

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.