Owens & Minor (NYSE:OMI) Board Initiates Share Buyback Plan

Owens & Minor (NYSE:OMI) announced that its Board of Directors has authorized a stock buyback plan on Friday, February 28th, RTT News reports. The company plans to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 13.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have recently weighed in on OMI. Citigroup reduced their target price on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Robert W. Baird reduced their price target on shares of Owens & Minor from $14.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday. UBS Group reduced their price target on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Barclays reduced their price target on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.92.

Owens & Minor Stock Up 38.7 %

Shares of Owens & Minor stock opened at $9.56 on Friday. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. Owens & Minor has a 1 year low of $6.07 and a 1 year high of $28.35. The firm’s 50-day moving average is $11.51 and its two-hundred day moving average is $13.26. The stock has a market cap of $736.78 million, a price-to-earnings ratio of -14.70, a PEG ratio of 0.20 and a beta of 0.48.

Owens & Minor (NYSE:OMI) last issued its earnings results on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the prior year, the business earned $0.69 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, research analysts expect that Owens & Minor will post 1.51 earnings per share for the current fiscal year.

Owens & Minor Company Profile

Owens & Minor, Inc is a healthcare solutions company, which engages in the product manufacturing and delivery, home health supply, and perioperative services to support care through the hospital and into the home. It operates through the Products and Healthcare Services, and Patient Direct segments.