Owens & Minor (NYSE:OMI) Price Target Lowered to $37.00 at Credit Suisse Group

Owens & Minor (NYSE:OMIGet Rating) had its price target lowered by equities researchers at Credit Suisse Group from $43.00 to $37.00 in a research note issued on Thursday, Marketbeat.com reports. The firm currently has a “neutral” rating on the stock. Credit Suisse Group’s price target would suggest a potential upside of 13.12% from the stock’s previous close.

Several other research firms have also recently commented on OMI. Robert W. Baird dropped their price objective on Owens & Minor from $70.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday. StockNews.com cut Owens & Minor from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Finally, Citigroup dropped their target price on Owens & Minor from $58.00 to $52.00 in a research report on Thursday. Two analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $50.33.

Owens & Minor Trading Up 0.1 %

Owens & Minor stock opened at $32.71 on Thursday. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.55 and a quick ratio of 0.67. Owens & Minor has a one year low of $29.50 and a one year high of $49.11. The stock has a market capitalization of $2.49 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.38 and a beta of 0.55. The business’s fifty day moving average is $32.97 and its 200 day moving average is $38.02.

Owens & Minor (NYSE:OMIGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. Owens & Minor had a return on equity of 26.66% and a net margin of 1.56%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same period last year, the firm posted $1.06 earnings per share. Owens & Minor’s revenue was up .4% compared to the same quarter last year. On average, sell-side analysts predict that Owens & Minor will post 3.03 EPS for the current year.

Insiders Place Their Bets

In other Owens & Minor news, COO Jeffrey T. Jochims sold 8,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $31.31, for a total value of $250,480.00. Following the transaction, the chief operating officer now directly owns 195,956 shares of the company’s stock, valued at $6,135,382.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Jeffrey T. Jochims sold 8,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $31.31, for a total value of $250,480.00. Following the transaction, the chief operating officer now owns 195,956 shares of the company’s stock, valued at $6,135,382.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gwendolyn M. Bingham sold 7,600 shares of the firm’s stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $35.32, for a total value of $268,432.00. Following the completion of the transaction, the director now directly owns 22,184 shares in the company, valued at approximately $783,538.88. The disclosure for this sale can be found here. Insiders own 4.09% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Owens & Minor by 1.4% in the first quarter. BlackRock Inc. now owns 11,896,845 shares of the company’s stock worth $523,700,000 after buying an additional 168,282 shares during the period. Vanguard Group Inc. raised its stake in Owens & Minor by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,068,497 shares of the company’s stock valued at $355,176,000 after purchasing an additional 61,721 shares during the period. Wellington Management Group LLP raised its stake in Owens & Minor by 1.0% during the 1st quarter. Wellington Management Group LLP now owns 7,552,955 shares of the company’s stock valued at $332,482,000 after purchasing an additional 77,252 shares during the period. State Street Corp raised its stake in Owens & Minor by 3.5% during the 1st quarter. State Street Corp now owns 2,730,421 shares of the company’s stock valued at $120,193,000 after purchasing an additional 91,745 shares during the period. Finally, William Blair Investment Management LLC raised its stake in Owens & Minor by 26.1% during the 1st quarter. William Blair Investment Management LLC now owns 2,633,716 shares of the company’s stock valued at $115,936,000 after purchasing an additional 544,570 shares during the period. Institutional investors own 95.69% of the company’s stock.

Owens & Minor Company Profile

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Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company in the United States and internationally. It operates through two segments, Global Solutions and Global Products. The Global Solutions segment offers a portfolio of products and services to healthcare providers and manufacturers.

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