Owens & Minor (NYSE:OMI) Price Target Cut to $10.00 by Analysts at JPMorgan Chase & Co.

Owens & Minor (NYSE:OMI) had its price target reduced by JPMorgan Chase & Co. from $14.00 to $10.00 in a research report report published on Monday,Benzinga reports. They currently have an underweight rating on the stock.

A number of other brokerages also recently commented on OMI. Robert W. Baird boosted their price objective on Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. UBS Group lowered their price objective on Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.75.

Owens & Minor Stock Performance

NYSE OMI opened at $9.45 on Monday. The company has a market cap of $729.60 million, a P/E ratio of -14.53, a P/E/G ratio of 0.20 and a beta of 0.61. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. The stock has a 50-day moving average of $11.00 and a two-hundred day moving average of $12.90. Owens & Minor has a 1-year low of $6.07 and a 1-year high of $28.35.

Owens & Minor (NYSE:OMI) last released its earnings results on Friday, February 28th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the previous year, the company posted $0.69 EPS. Owens & Minor’s revenue was up 1.5% compared to the same quarter last year. As a group, analysts anticipate that Owens & Minor will post 1.51 EPS for the current year.

Owens & Minor declared that its Board of Directors has initiated a share buyback plan on Friday, February 28th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 13.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L acquired 1,738,511 shares of Owens & Minor stock in a transaction on Friday, February 28th. The stock was bought at an average price of $9.39 per share, for a total transaction of $16,324,618.29. Following the completion of the purchase, the insider now owns 9,469,698 shares in the company, valued at $88,920,464.22. This represents a 22.49 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Owens & Minor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its stake in Owens & Minor by 0.8% in the third quarter. FMR LLC now owns 11,564,624 shares of the company’s stock valued at $181,449,000 after buying an additional 90,862 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Owens & Minor by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,915,756 shares of the company’s stock worth $116,529,000 after purchasing an additional 107,092 shares during the last quarter. Coliseum Capital Management LLC raised its stake in shares of Owens & Minor by 31.3% during the fourth quarter. Coliseum Capital Management LLC now owns 4,785,964 shares of the company’s stock worth $62,553,000 after purchasing an additional 1,141,483 shares during the last quarter. State Street Corp raised its stake in shares of Owens & Minor by 2.6% during the third quarter. State Street Corp now owns 3,064,547 shares of the company’s stock worth $48,083,000 after purchasing an additional 78,985 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Owens & Minor by 13.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company’s stock worth $30,127,000 after purchasing an additional 276,807 shares during the last quarter. Hedge funds and other institutional investors own 98.04% of the company’s stock.

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.