Owens & Minor, Inc. (NYSE:OMI) Rating Lowered to Strong Sell at BidaskClub

BidaskClub cut shares of Owens & Minor, Inc. (NYSE:OMI) from a sell rating to a strong sell rating in a research note issued to investors on Saturday, August 5th.

OMI has been the subject of several other research reports. Zacks Investment Research lowered shares of Owens & Minor from a hold rating to a sell rating in a research report on Friday, May 5th. TheStreet lowered shares of Owens & Minor from a b rating to a c+ rating in a research report on Thursday, May 4th. Jefferies Group LLC set a $36.00 price target on shares of Owens & Minor and gave the company a hold rating in a research report on Monday, May 22nd. Finally, UBS AG restated a sell rating and set a $29.50 price target (down previously from $30.50) on shares of Owens & Minor in a research report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $31.88.

Shares of Owens & Minor (NYSE OMI) traded up 0.33% during midday trading on Friday, reaching $27.60. The company had a trading volume of 1,267,390 shares. The company has a market capitalization of $1.69 billion, a P/E ratio of 17.56 and a beta of 1.01. Owens & Minor has a 12 month low of $27.23 and a 12 month high of $37.02. The firm’s 50 day moving average price is $30.65 and its 200-day moving average price is $33.09.

Owens & Minor (NYSE:OMI) last posted its earnings results on Tuesday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. Owens & Minor had a net margin of 1.02% and a return on equity of 11.64%. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the prior year, the business posted $0.52 EPS. The business’s revenue was down 8.8% compared to the same quarter last year. Analysts anticipate that Owens & Minor will post $1.92 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Thursday, September 14th. Owens & Minor’s dividend payout ratio (DPR) is presently 65.19%.

In other news, EVP Rony Camil Kordahi sold 2,231 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $32.07, for a total value of $71,548.17. Following the sale, the executive vice president now directly owns 27,555 shares of the company’s stock, valued at $883,688.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Erika T. Davis sold 9,317 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $32.26, for a total transaction of $300,566.42. Following the completion of the sale, the senior vice president now directly owns 63,979 shares in the company, valued at $2,063,962.54. The disclosure for this sale can be found here. 1.68% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Meadow Creek Investment Management LLC increased its stake in shares of Owens & Minor by 23.0% in the first quarter. Meadow Creek Investment Management LLC now owns 3,300 shares of the company’s stock worth $114,000 after buying an additional 616 shares during the last quarter. Flinton Capital Management LLC increased its stake in shares of Owens & Minor by 62.7% in the second quarter. Flinton Capital Management LLC now owns 3,904 shares of the company’s stock worth $126,000 after buying an additional 1,504 shares during the last quarter. Creative Planning increased its stake in shares of Owens & Minor by 2.9% in the second quarter. Creative Planning now owns 4,021 shares of the company’s stock worth $129,000 after buying an additional 113 shares during the last quarter. Glen Harbor Capital Management LLC increased its stake in shares of Owens & Minor by 23.0% in the first quarter. Glen Harbor Capital Management LLC now owns 4,200 shares of the company’s stock worth $145,000 after buying an additional 784 shares during the last quarter. Finally, LS Investment Advisors LLC increased its stake in shares of Owens & Minor by 17.1% in the second quarter. LS Investment Advisors LLC now owns 4,987 shares of the company’s stock worth $161,000 after buying an additional 727 shares during the last quarter. 96.24% of the stock is currently owned by hedge funds and other institutional investors.

Owens & Minor Company Profile

Owens & Minor, Inc is a healthcare services company that connects the world of medical products to the point of care. The Company provides supply chain assistance to the providers of healthcare services and the manufacturers of healthcare products, supplies and devices. The Company’s segments include Domestic, International and Clinical & Procedural Solutions (CPS).

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