Owens & Minor (NYSE:OMI) Given New $18.50 Price Target at Citigroup

Owens & Minor (NYSE:OMI) had its price target cut by Citigroup from $21.00 to $18.50 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also commented on the company. Barclays decreased their price objective on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company 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. Robert W. Baird lowered their price objective on shares of Owens & Minor from $19.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Owens & Minor from $22.00 to $18.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.50.

Owens & Minor Stock Performance

Owens & Minor stock opened at $12.90 on Tuesday. Owens & Minor has a fifty-two week low of $11.42 and a fifty-two week high of $28.35. The firm’s 50 day simple moving average is $14.30 and its 200-day simple moving average is $15.98. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.51. The company has a market cap of $994.72 million, a P/E ratio of -19.85, a price-to-earnings-growth ratio of 0.47 and a beta of 0.41.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS. As a group, equities research analysts predict that Owens & Minor will post 1.49 EPS for the current year.

Hedge Funds Weigh In On Owens & Minor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC lifted its position in shares of Owens & Minor by 7.4% in the first quarter. ProShare Advisors LLC now owns 15,021 shares of the company’s stock worth $416,000 after buying an additional 1,029 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in Owens & Minor by 1.8% in the 1st quarter. Texas Permanent School Fund Corp now owns 66,953 shares of the company’s stock worth $1,855,000 after purchasing an additional 1,156 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Owens & Minor by 76.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company’s stock worth $43,000 after purchasing an additional 1,356 shares during the last quarter. Arizona State Retirement System boosted its position in Owens & Minor by 7.7% during the second quarter. Arizona State Retirement System now owns 20,371 shares of the company’s stock worth $275,000 after purchasing an additional 1,449 shares during the period. Finally, Quarry LP raised its position in shares of Owens & Minor by 290.1% in the second quarter. Quarry LP now owns 2,099 shares of the company’s stock valued at $28,000 after purchasing an additional 1,561 shares during the period. 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.