Owens & Minor, Inc. (NYSE:OMI) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Owens & Minor, Inc. (NYSE:OMI) from a hold rating to a buy rating in a report released on Friday morning. The brokerage currently has $34.00 price objective on the stock.
According to Zacks, “Owens & Minor, Inc. is one of the nation’s largest distributors of national name brand medical/surgical supplies. With distribution centers located throughout the United States, the company serves hospitals, integrated healthcare systems and group purchasing organizations. In addition to a diverse product offering, Owens & Minor offers innovative services in supply chain management, logistics and technology, helping customers control healthcare costs and improve inventory management. “
Several other research firms have also weighed in on OMI. Jefferies Group LLC set a $36.00 target price on shares of Owens & Minor and gave the company a hold rating in a report on Monday, May 22nd. UBS AG restated a sell rating and set a $29.50 target price (down previously from $30.50) on shares of Owens & Minor in a report on Thursday, August 3rd. TheStreet lowered shares of Owens & Minor from a b rating to a c+ rating in a report on Thursday, May 4th. Finally, BidaskClub lowered shares of Owens & Minor from a hold rating to a sell rating in a report on Tuesday, June 20th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $32.88.
Shares of Owens & Minor (NYSE OMI) opened at 28.64 on Friday. The stock’s 50 day moving average price is $31.96 and its 200-day moving average price is $33.76. Owens & Minor has a 52-week low of $28.13 and a 52-week high of $37.02. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 18.22 and a beta of 1.01.
Owens & Minor (NYSE:OMI) last posted its earnings results on Tuesday, August 1st. The company reported $0.43 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.38 billion. Owens & Minor had a net margin of 0.89% and a return on equity of 8.14%. The business’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS. On average, analysts predict that Owens & Minor will post $1.92 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.2575 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.03 dividend on an annualized basis and a yield of 3.60%. Owens & Minor’s dividend payout ratio is currently 65.19%.
In other Owens & Minor news, SVP Erika T. Davis sold 9,317 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $32.26, for a total value of $300,566.42. Following the transaction, the senior vice president now owns 63,979 shares in the company, valued at approximately $2,063,962.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Rony Camil Kordahi sold 2,231 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $32.07, for a total transaction of $71,548.17. Following the completion of the transaction, the executive vice president now owns 27,555 shares in the company, valued at approximately $883,688.85. The disclosure for this sale can be found here. Insiders own 1.68% of the company’s stock.
Institutional investors have recently modified their holdings of the company. GHP Investment Advisors Inc. raised its position in shares of Owens & Minor by 5.5% in the second quarter. GHP Investment Advisors Inc. now owns 39,070 shares of the company’s stock worth $1,258,000 after buying an additional 2,036 shares in the last quarter. American Century Companies Inc. raised its position in shares of Owens & Minor by 29.8% in the second quarter. American Century Companies Inc. now owns 502,445 shares of the company’s stock worth $16,174,000 after buying an additional 115,234 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Owens & Minor by 8.1% in the second quarter. Victory Capital Management Inc. now owns 27,048 shares of the company’s stock worth $871,000 after buying an additional 2,019 shares in the last quarter. Boston Private Wealth LLC raised its position in shares of Owens & Minor by 12.8% in the second quarter. Boston Private Wealth LLC now owns 21,191 shares of the company’s stock worth $682,000 after buying an additional 2,407 shares in the last quarter. Finally, Blair William & Co. IL raised its position in shares of Owens & Minor by 0.5% in the second quarter. Blair William & Co. IL now owns 20,638 shares of the company’s stock worth $664,000 after buying an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.
Owens & Minor Company Profile
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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