Owens & Minor Inc. (OMI) Sees Unusually-High Trading Volume
Owens & Minor Inc. (NYSE:OMI) shares saw strong trading volume on Friday . 515,067 shares changed hands during trading, a decline of 26% from the previous session’s volume of 692,946 shares.The stock last traded at $35.91 and had previously closed at $35.95.
Several research analysts have commented on the company. Leerink Swann reaffirmed a “hold” rating on shares of Owens & Minor in a report on Thursday, May 5th. Zacks Investment Research raised Owens & Minor from a “sell” rating to a “hold” rating in a report on Saturday, May 7th. Finally, Robert W. Baird downgraded Owens & Minor from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $36.00 to $32.00 in a research note on Thursday, April 21st. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock currently has an average rating of “Sell” and an average price target of $36.60.
The firm has a market cap of $2.25 billion and a P/E ratio of 20.66. The stock’s 50-day moving average price is $37.29 and its 200 day moving average price is $37.41.
Owens & Minor (NYSE:OMI) last released its earnings results on Tuesday, May 3rd. The company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.03. The firm earned $2.46 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the company earned $0.44 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that Owens & Minor Inc. will post $2.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, June 13th. This represents a $1.02 dividend on an annualized basis and a yield of 2.84%.
In related news, insider Michael Wayne Lowry sold 1,181 shares of the stock in a transaction on Monday, May 9th. The stock was sold at an average price of $35.88, for a total value of $42,374.28. Following the transaction, the insider now owns 5,219 shares of the company’s stock, valued at $187,257.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Craig R. Smith sold 5,000 shares of the stock in a transaction on Monday, May 9th. The shares were sold at an average price of $35.93, for a total value of $179,650.00. Following the completion of the transaction, the director now directly owns 116,982 shares in the company, valued at approximately $4,203,163.26. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Matarin Capital Management LLC purchased a new position in Owens & Minor during the fourth quarter worth approximately $1,234,000. Suntrust Banks Inc. boosted its position in Owens & Minor by 86.0% in the fourth quarter. Suntrust Banks Inc. now owns 34,357 shares of the company’s stock worth $1,236,000 after buying an additional 15,881 shares in the last quarter. ProShare Advisors LLC boosted its position in Owens & Minor by 27.5% in the fourth quarter. ProShare Advisors LLC now owns 36,690 shares of the company’s stock worth $1,320,000 after buying an additional 7,918 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Owens & Minor during the fourth quarter worth approximately $1,320,000. Finally, Bank of Montreal Can boosted its position in Owens & Minor by 7,261.6% in the fourth quarter. Bank of Montreal Can now owns 37,544 shares of the company’s stock worth $1,350,000 after buying an additional 37,034 shares in the last quarter.
Owens & Minor, Inc is a global healthcare services company. The Company provides supply chain assistance to the providers of healthcare services and the manufacturers of healthcare products, supplies and devices in the United States and Europe. The Company operates in two segments: Domestic and International.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.