Zacks Investment Research upgraded shares of Owens & Minor, Inc. (NYSE:OMI) from a sell rating to a hold rating in a research report released on Wednesday, July 5th.
According to Zacks, “Owens & Minor, Inc. is one of the nation’s largest distributors of national name brand medical/surgical supplies. With distribution centers located throughout the United States, the company serves hospitals, integrated healthcare systems and group purchasing organizations. In addition to a diverse product offering, Owens & Minor offers innovative services in supply chain management, logistics and technology, helping customers control healthcare costs and improve inventory management. “
Several other research firms have also issued reports on OMI. Jefferies Group LLC set a $36.00 target price on Owens & Minor and gave the stock a hold rating in a research report on Monday, May 22nd. TheStreet lowered Owens & Minor from a b rating to a c+ rating in a research report on Thursday, May 4th. Finally, BidaskClub lowered Owens & Minor from a hold rating to a sell rating in a research report on Tuesday, June 20th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company currently has a consensus rating of Sell and a consensus price target of $33.17.
Owens & Minor (OMI) traded up 0.12% during mid-day trading on Wednesday, reaching $32.25. 493,408 shares of the company’s stock were exchanged. Owens & Minor has a 52 week low of $30.43 and a 52 week high of $37.02. The stock has a 50-day moving average price of $31.97 and a 200-day moving average price of $33.86. The stock has a market cap of $1.97 billion, a P/E ratio of 19.17 and a beta of 1.01.
Owens & Minor (NYSE:OMI) last posted its earnings results on Tuesday, May 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The company had revenue of $2.33 billion for the quarter. Owens & Minor had a return on equity of 12.28% and a net margin of 1.08%. On average, analysts forecast that Owens & Minor will post $1.78 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were issued a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Tuesday, June 13th. Owens & Minor’s dividend payout ratio (DPR) is presently 60.95%.
In other news, SVP Erika T. Davis sold 9,317 shares of Owens & Minor 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 transaction, the senior vice president now owns 63,979 shares in the company, valued at approximately $2,063,962.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Wayne Lowry sold 1,300 shares of Owens & Minor stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $32.19, for a total value of $41,847.00. Following the transaction, the insider now owns 10,498 shares in the company, valued at approximately $337,930.62. The disclosure for this sale can be found here. Insiders have sold a total of 12,848 shares of company stock worth $413,962 in the last quarter. 1.68% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Owens & Minor by 8,301.0% in the first quarter. BlackRock Inc. now owns 7,423,066 shares of the company’s stock valued at $256,840,000 after buying an additional 7,334,707 shares during the period. Dimensional Fund Advisors LP boosted its stake in Owens & Minor by 8.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,567,308 shares of the company’s stock valued at $88,828,000 after buying an additional 202,892 shares during the last quarter. State Street Corp boosted its stake in Owens & Minor by 3.8% in the first quarter. State Street Corp now owns 2,264,425 shares of the company’s stock valued at $78,346,000 after buying an additional 83,793 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Owens & Minor by 136.5% in the first quarter. JPMorgan Chase & Co. now owns 1,609,977 shares of the company’s stock valued at $55,705,000 after buying an additional 929,196 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its stake in Owens & Minor by 18.8% in the first quarter. Pzena Investment Management LLC now owns 1,579,596 shares of the company’s stock valued at $54,654,000 after buying an additional 250,263 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.
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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