Owens & Minor (NYSE:OMI) Stock Price Down 7.1%

Owens & Minor, Inc. (NYSE:OMI) shares fell 7.1% on Tuesday . The stock traded as low as $14.49 and last traded at $14.58. 269,389 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 840,328 shares. The stock had previously closed at $15.69.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OMI. Citigroup raised Owens & Minor from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $24.00 to $19.00 in a report on Friday, July 19th. Barclays decreased their price objective on Owens & Minor from $23.00 to $18.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Robert W. Baird decreased their price objective on Owens & Minor from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Bank of America decreased their price target on Owens & Minor from $18.00 to $16.00 and set an “underperform” rating on the stock in a research report on Tuesday, June 25th. Finally, StockNews.com cut Owens & Minor from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.00.

Owens & Minor Stock Performance

The company has a quick ratio of 0.51, a current ratio of 1.09 and a debt-to-equity ratio of 2.17. The company’s 50-day moving average is $15.59 and its two-hundred day moving average is $18.40. The company has a market capitalization of $1.11 billion, a P/E ratio of -28.80, a PEG ratio of 0.49 and a beta of 0.39.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.65 billion. Owens & Minor had a negative net margin of 0.40% and a positive return on equity of 14.66%. Owens & Minor’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 earnings per share. Equities analysts anticipate that Owens & Minor, Inc. will post 1.57 earnings per share for the current fiscal year.

Institutional Trading of Owens & Minor

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Owens & Minor by 1.9% in the first quarter. Vanguard Group Inc. now owns 8,749,866 shares of the company’s stock worth $242,459,000 after buying an additional 162,182 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its stake in shares of Owens & Minor by 30.6% during the second quarter. Deerfield Management Company L.P. Series C now owns 6,371,440 shares of the company’s stock valued at $86,014,000 after purchasing an additional 1,493,852 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Owens & Minor by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,534,204 shares of the company’s stock valued at $61,213,000 after purchasing an additional 76,599 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Owens & Minor by 16.5% during the second quarter. Renaissance Technologies LLC now owns 1,246,600 shares of the company’s stock valued at $16,829,000 after purchasing an additional 176,250 shares during the period. Finally, Dana Investment Advisors Inc. boosted its stake in shares of Owens & Minor by 35.8% during the second quarter. Dana Investment Advisors Inc. now owns 609,040 shares of the company’s stock valued at $8,222,000 after purchasing an additional 160,682 shares during the period. Hedge funds and other institutional investors own 98.04% of the company’s stock.

Owens & Minor Company Profile

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.