Owens & Minor (NYSE:OMI) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Owens & Minor (NYSE:OMI) from a hold rating to a strong sell rating in a research note published on Monday,Zacks.com reports.

Several other analysts have also recently commented on the stock. Robert W. Baird reduced their target price on shares of Owens & Minor from $10.00 to $7.00 and set an “outperform” rating for the company in a research note on Tuesday, August 12th. Citigroup reiterated a “buy” rating and set a $7.00 price target (down from $11.00) on shares of Owens & Minor in a research note on Tuesday, August 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Owens & Minor in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price objective on Owens & Minor from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Wednesday, August 27th. Finally, Baird R W upgraded Owens & Minor from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.35.

Owens & Minor Trading Up 3.3%

Shares of OMI stock opened at $2.94 on Monday. The company has a market capitalization of $227.63 million, a P/E ratio of -0.19 and a beta of 1.27. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 3.32. The business’s 50 day moving average is $4.74 and its two-hundred day moving average is $6.27. Owens & Minor has a twelve month low of $2.85 and a twelve month high of $15.54.

Owens & Minor (NYSE:OMI) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. Owens & Minor had a positive return on equity of 26.59% and a negative net margin of 13.78%.The business had revenue of $697.26 million during the quarter, compared to analysts’ expectations of $704.06 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Owens & Minor has set its FY 2025 guidance at 1.020-1.070 EPS. Equities analysts forecast that Owens & Minor will post 1.51 EPS for the current year.

Institutional Investors Weigh In On Owens & Minor

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Coliseum Capital Management LLC boosted its stake in shares of Owens & Minor by 122.0% during the 1st quarter. Coliseum Capital Management LLC now owns 10,624,599 shares of the company’s stock worth $95,940,000 after acquiring an additional 5,838,635 shares in the last quarter. Vanguard Group Inc. raised its holdings in Owens & Minor by 2.7% during the first quarter. Vanguard Group Inc. now owns 9,156,759 shares of the company’s stock worth $82,686,000 after purchasing an additional 241,003 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Owens & Minor by 19.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,752,960 shares of the company’s stock worth $24,859,000 after purchasing an additional 447,917 shares in the last quarter. Paradigm Capital Management Inc. NY grew its holdings in Owens & Minor by 3,197.8% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,978,700 shares of the company’s stock valued at $18,006,000 after purchasing an additional 1,918,700 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Owens & Minor by 10.0% in the second quarter. Invesco Ltd. now owns 1,888,548 shares of the company’s stock valued at $17,186,000 after purchasing an additional 171,653 shares during the last quarter. 98.04% of the stock is currently owned by institutional investors and hedge funds.

About Owens & Minor

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.