Owens & Minor Inc. (OMI) Sees Large Volume Increase
Shares of Owens & Minor Inc. (NYSE:OMI) saw strong trading volume on Monday . 1,103,684 shares traded hands during trading, an increase of 42% from the previous session’s volume of 778,777 shares.The stock last traded at $35.73 and had previously closed at $35.64.
Several equities research analysts have recently issued reports on the stock. Robert W. Baird cut shares of Owens & Minor from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $36.00 to $32.00 in a research report on Thursday, April 21st. Leerink Swann reissued a “hold” rating on shares of Owens & Minor in a report on Thursday, May 5th. Finally, Zacks Investment Research lowered shares of Owens & Minor from a “hold” rating to a “sell” rating in a report on Tuesday, April 26th. Three 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 a consensus rating of “Sell” and a consensus price target of $36.60.
The firm has a market capitalization of $2.24 billion and a PE ratio of 20.58. The firm’s 50-day moving average price is $37.01 and its 200-day moving average price is $37.41.
Owens & Minor (NYSE:OMI) last issued its earnings results on Tuesday, May 3rd. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the business posted $0.44 EPS. Owens & Minor’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts predict that Owens & Minor Inc. will post $2.05 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Monday, June 13th.
In other Owens & Minor news, insider Michael Wayne Lowry sold 1,181 shares of Owens & Minor stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $35.88, for a total transaction 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 filing with the SEC, which is available at this link. Also, Director Craig R. Smith sold 5,000 shares of Owens & Minor stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $35.93, for a total value of $179,650.00. Following 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.
A number of 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 valued at approximately $1,234,000. Suntrust Banks Inc. raised 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 valued at $1,236,000 after buying an additional 15,881 shares during the period. ProShare Advisors LLC raised 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 valued at $1,320,000 after buying an additional 7,918 shares during the period. GSA Capital Partners LLP purchased a new position in Owens & Minor during the fourth quarter valued at approximately $1,320,000. Finally, Bank of Montreal Can raised 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 valued at $1,350,000 after buying an additional 37,034 shares during the period.
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.
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