Owens & Minor (NYSE:OMI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
According to Zacks, “Owens & Minor, Inc. is a global healthcare solutions company dedicated to Connecting the World of Medical Products to the Point of CareSM by providing vital supply chain services to healthcare providers and manufacturers of healthcare products. Owens & Minor provides logistics services across the spectrum of medical products from disposable medical supplies to devices and implants. With logistics platforms strategically located in the United States and Europe, Owens & Minor serves markets where three quarters of global healthcare spending occurs. Owens & Minor’s customers span the healthcare market from independent hospitals to large integrated healthcare networks, as well as group purchasing organizations, healthcare products manufacturers, the federal government, and healthcare patients at home through the Byram Healthcare subsidiary. “
A number of other research firms also recently weighed in on OMI. JPMorgan Chase reiterated an “underweight” rating and set a $22.00 target price on shares of Owens & Minor in a report on Tuesday, December 19th. Barclays initiated coverage on Owens & Minor in a report on Thursday, March 8th. They set an “underweight” rating and a $16.00 target price on the stock. ValuEngine downgraded Owens & Minor from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Finally, Bank of America initiated coverage on Owens & Minor in a report on Tuesday, February 27th. They set a “buy” rating and a $19.00 target price on the stock. Seven research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Sell” and a consensus target price of $24.28.
Shares of NYSE:OMI opened at $15.45 on Wednesday. Owens & Minor has a 1 year low of $14.26 and a 1 year high of $34.97. The stock has a market cap of $997.79, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 0.99 and a beta of 1.06. The company has a current ratio of 1.67, a quick ratio of 0.91 and a debt-to-equity ratio of 0.89.
Owens & Minor (NYSE:OMI) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Owens & Minor had a return on equity of 9.63% and a net margin of 0.78%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the previous year, the business earned $0.52 EPS. Owens & Minor’s revenue was up .9% compared to the same quarter last year. analysts expect that Owens & Minor will post 2.05 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. Alps Advisors Inc. purchased a new position in shares of Owens & Minor during the 4th quarter worth approximately $466,000. Opus Capital Group LLC bought a new stake in shares of Owens & Minor in the 4th quarter worth approximately $2,937,000. SG Americas Securities LLC boosted its position in shares of Owens & Minor by 12.3% in the 4th quarter. SG Americas Securities LLC now owns 134,397 shares of the company’s stock worth $2,537,000 after purchasing an additional 14,694 shares in the last quarter. Aperio Group LLC boosted its position in shares of Owens & Minor by 17.0% in the 4th quarter. Aperio Group LLC now owns 67,402 shares of the company’s stock worth $1,273,000 after purchasing an additional 9,814 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Owens & Minor by 11.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 61,941 shares of the company’s stock worth $1,169,000 after purchasing an additional 6,560 shares in the last quarter. Hedge funds and other institutional investors own 96.96% of the company’s stock.
About Owens & Minor
Owens & Minor, Inc is a healthcare services company that connects the world of medical products to the point of care. The Company provides supply chain assistance to the providers of healthcare services and the manufacturers of healthcare products, supplies and devices. The Company’s segments include Domestic, International and Clinical & Procedural Solutions (CPS).
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