Short Interest in Owens & Minor, Inc. (NYSE:OMI) Decreases By 14.4%

Owens & Minor, Inc. (NYSE:OMI) was the target of a large decrease in short interest in June. As of June 15th, there was short interest totalling 4,560,000 shares, a decrease of 14.4% from the May 31st total of 5,330,000 shares. Based on an average trading volume of 767,700 shares, the days-to-cover ratio is currently 5.9 days. Currently, 6.6% of the company’s stock are short sold.

Insider Activity at Owens & Minor

In other news, SVP Jonathan A. Leon sold 5,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $24.84, for a total value of $124,200.00. Following the completion of the sale, the senior vice president now directly owns 84,673 shares in the company, valued at approximately $2,103,277.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Jonathan A. Leon sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $24.84, for a total transaction of $124,200.00. Following the completion of the transaction, the senior vice president now owns 84,673 shares in the company, valued at $2,103,277.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Heath H. Galloway sold 2,031 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $20.18, for a total transaction of $40,985.58. Following the completion of the transaction, the executive vice president now directly owns 56,898 shares of the company’s stock, valued at approximately $1,148,201.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,923 shares of company stock valued at $686,911. 3.59% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Owens & Minor

Large investors have recently bought and sold shares of the stock. Riverview Trust Co acquired a new position in Owens & Minor during the 1st quarter valued at about $25,000. Hexagon Capital Partners LLC increased its stake in Owens & Minor by 1,240.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,568 shares of the company’s stock valued at $43,000 after buying an additional 1,451 shares during the period. GAMMA Investing LLC increased its stake in Owens & Minor by 52.1% during the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the company’s stock valued at $46,000 after buying an additional 563 shares during the period. Quest Partners LLC acquired a new position in Owens & Minor during the 4th quarter valued at about $41,000. Finally, Quarry LP increased its stake in Owens & Minor by 38.8% during the 4th quarter. Quarry LP now owns 2,573 shares of the company’s stock valued at $50,000 after buying an additional 719 shares during the period. Institutional investors and hedge funds own 98.04% of the company’s stock.

Owens & Minor Price Performance

NYSE OMI opened at $13.50 on Friday. The company’s fifty day simple moving average is $18.71 and its 200-day simple moving average is $21.23. Owens & Minor has a 52 week low of $13.26 and a 52 week high of $28.35. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.16 and a quick ratio of 0.56.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings results on Friday, May 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. Owens & Minor had a negative net margin of 0.37% and a positive return on equity of 12.97%. The firm had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the prior year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, research analysts expect that Owens & Minor will post 1.53 earnings per share for the current year.

Analysts Set New Price Targets

OMI has been the topic of several research reports. Robert W. Baird cut their price objective on shares of Owens & Minor from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. TheStreet upgraded shares of Owens & Minor from a “d+” rating to a “c-” rating in a research report on Monday, March 4th. Bank of America dropped their price objective on shares of Owens & Minor from $18.00 to $16.00 and set an “underperform” rating for the company in a research note on Tuesday, June 25th. StockNews.com cut shares of Owens & Minor from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, Citigroup increased their price target on shares of Owens & Minor from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Owens & Minor has a consensus rating of “Hold” and an average target price of $21.88.

About Owens & Minor

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.