Owens & Minor (NYSE:OMI) Price Target Raised to $28.00 at Citigroup

Owens & Minor (NYSE:OMI) had its price target hoisted by Citigroup from $24.00 to $28.00 in a research report report published on Tuesday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other equities analysts have also commented on the company. SVB Leerink began coverage on Owens & Minor in a research note on Monday, February 26th. They issued a market perform rating and a $24.00 price objective on the stock. Leerink Partnrs reiterated a market perform rating on shares of Owens & Minor in a research note on Monday, February 26th. Barclays boosted their price target on Owens & Minor from $21.00 to $23.00 and gave the company an equal weight rating in a research note on Wednesday, February 21st. TheStreet upgraded Owens & Minor from a d+ rating to a c- rating in a research note on Monday, March 4th. Finally, StockNews.com upgraded Owens & Minor from a hold rating to a buy rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $23.86.

Owens & Minor Price Performance

NYSE OMI opened at $24.73 on Tuesday. Owens & Minor has a fifty-two week low of $13.34 and a fifty-two week high of $28.35. The stock’s 50-day moving average is $25.33 and its two-hundred day moving average is $21.26. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 0.52. The firm has a market cap of $1.89 billion, a P/E ratio of -45.80, a price-to-earnings-growth ratio of 0.79 and a beta of 0.43.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. Owens & Minor had a positive return on equity of 11.62% and a negative net margin of 0.40%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. On average, analysts anticipate that Owens & Minor will post 1.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Owens & Minor

In other Owens & Minor news, SVP Michael Wayne Lowry sold 10,000 shares of Owens & Minor stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the sale, the senior vice president now directly owns 71,654 shares of the company’s stock, valued at $1,791,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Owens & Minor news, SVP Michael Wayne Lowry sold 10,000 shares of Owens & Minor stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the sale, the senior vice president now directly owns 71,654 shares of the company’s stock, valued at $1,791,350. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan A. Leon sold 5,000 shares of Owens & Minor stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $24.84, for a total value of $124,200.00. Following the sale, the senior vice president now directly owns 84,673 shares in the company, valued at $2,103,277.32. The disclosure for this sale can be found here. Company insiders own 3.59% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of OMI. Deerfield Management Company L.P. Series C boosted its holdings in shares of Owens & Minor by 35.6% in the 3rd quarter. Deerfield Management Company L.P. Series C now owns 6,435,000 shares of the company’s stock worth $103,990,000 after acquiring an additional 1,690,000 shares in the last quarter. FMR LLC boosted its holdings in shares of Owens & Minor by 10.6% in the 3rd quarter. FMR LLC now owns 11,479,209 shares of the company’s stock worth $185,504,000 after acquiring an additional 1,103,275 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Owens & Minor by 278.0% in the 3rd quarter. Deutsche Bank AG now owns 694,248 shares of the company’s stock worth $11,219,000 after acquiring an additional 510,596 shares in the last quarter. Norges Bank acquired a new position in shares of Owens & Minor in the 4th quarter worth approximately $9,160,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Owens & Minor by 8.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,210,991 shares of the company’s stock worth $81,148,000 after acquiring an additional 327,002 shares in the last quarter. 98.04% of the stock is owned by institutional investors and hedge funds.

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.