Citigroup Issues Pessimistic Forecast for Owens & Minor (NYSE:OMI) Stock Price

Owens & Minor (NYSE:OMI) had its price target lowered by Citigroup from $21.00 to $18.50 in a report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently commented on OMI. JPMorgan Chase & Co. reduced their price objective on shares of Owens & Minor from $22.00 to $18.00 and set an “underweight” rating for the company in a research note on Wednesday, August 21st. Robert W. Baird decreased their price target on Owens & Minor from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday. StockNews.com lowered shares of Owens & Minor from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Finally, Barclays decreased their target price on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.50.

Owens & Minor Stock Performance

Shares of OMI stock traded down $0.23 during trading hours on Tuesday, hitting $12.53. 25,801 shares of the company were exchanged, compared to its average volume of 834,575. Owens & Minor has a 52-week low of $11.42 and a 52-week high of $28.35. The company has a current ratio of 1.09, a quick ratio of 0.51 and a debt-to-equity ratio of 2.11. The firm has a fifty day simple moving average of $14.35 and a 200 day simple moving average of $16.06. The stock has a market capitalization of $966.01 million, a price-to-earnings ratio of -19.63, a P/E/G ratio of 0.39 and a beta of 0.41.

Owens & Minor (NYSE:OMI) last issued its earnings results on Monday, November 4th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same period in the previous year, the company posted $0.44 earnings per share. The business’s revenue was up 5.0% on a year-over-year basis. Research analysts predict that Owens & Minor will post 1.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Quarry LP raised its holdings in Owens & Minor by 290.1% in the second quarter. Quarry LP now owns 2,099 shares of the company’s stock worth $28,000 after buying an additional 1,561 shares during the last quarter. Innealta Capital LLC purchased a new stake in Owens & Minor during the 2nd quarter valued at $43,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of Owens & Minor by 76.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company’s stock valued at $43,000 after buying an additional 1,356 shares during the period. Blue Trust Inc. boosted its stake in shares of Owens & Minor by 176.8% in the 3rd quarter. Blue Trust Inc. now owns 2,787 shares of the company’s stock worth $44,000 after buying an additional 1,780 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Owens & Minor by 100.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 6,071 shares of the company’s stock worth $82,000 after acquiring an additional 3,044 shares during the period. Hedge funds and other institutional investors own 98.04% of the company’s stock.

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.