Owens & Minor, Inc. (NYSE:OMI) Receives $6.35 Consensus PT from Analysts

Owens & Minor, Inc. (NYSE:OMI) has earned a consensus recommendation of “Reduce” from the seven ratings firms that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a sell rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $6.35.

Several research firms recently weighed in on OMI. Weiss Ratings reissued a “sell (e+)” rating on shares of Owens & Minor in a research report on Wednesday, October 8th. Zacks Research downgraded Owens & Minor from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th.

Owens & Minor Price Performance

Owens & Minor stock opened at $2.90 on Friday. Owens & Minor has a fifty-two week low of $2.38 and a fifty-two week high of $15.54. The firm’s 50 day simple moving average is $2.82 and its 200-day simple moving average is $4.42. The company has a market cap of $223.92 million, a P/E ratio of -0.17 and a beta of 1.37.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Owens & Minor had a negative net margin of 19.99% and a positive return on equity of 95.57%. The firm had revenue of $697.26 million during the quarter, compared to analyst estimates of $704.06 million. During the same quarter last year, the business posted $0.36 EPS. The company’s revenue was up 1.5% on a year-over-year basis. On average, analysts expect that Owens & Minor will post 1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Owens & Minor

Several institutional investors and hedge funds have recently modified their holdings of OMI. Millennium Management LLC raised its holdings in shares of Owens & Minor by 191.7% during the third quarter. Millennium Management LLC now owns 3,261,254 shares of the company’s stock worth $15,654,000 after acquiring an additional 2,143,267 shares in the last quarter. Invenomic Capital Management LP acquired a new position in Owens & Minor in the 3rd quarter worth about $13,196,000. Paradigm Capital Management Inc. NY raised its stake in shares of Owens & Minor by 3,197.8% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,978,700 shares of the company’s stock worth $18,006,000 after purchasing an additional 1,918,700 shares in the last quarter. Invesco Ltd. raised its stake in shares of Owens & Minor by 10.0% during the 2nd quarter. Invesco Ltd. now owns 1,888,548 shares of the company’s stock worth $17,186,000 after purchasing an additional 171,653 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Owens & Minor by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,774,359 shares of the company’s stock valued at $16,149,000 after buying an additional 15,995 shares during the last quarter. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

Owens & Minor Company Profile

Owens & Minor, Inc is a global healthcare solutions company specializing in the distribution of medical and surgical supplies, as well as supply chain management services. The company partners with healthcare providers, manufacturers and group purchasing organizations to deliver critical products and customized logistics solutions across the continuum of care. Its offerings range from standard medical-surgical products to specialized clinical devices, all supported by technology-driven inventory management and consulting services aimed at optimizing operational efficiency for hospitals, ambulatory surgery centers and other care facilities.

Founded in 1882 and headquartered in Mechanicsville, Virginia, Owens & Minor has evolved from a regional pharmaceutical distributor into a leader in healthcare logistics.