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

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

OMI has been the topic of a number of other research reports. Leerink Partnrs restated a market perform rating on shares of Owens & Minor in a research report on Monday, February 26th. Robert W. Baird boosted their price objective on Owens & Minor from $24.00 to $28.00 and gave the company a neutral rating in a research note on Wednesday, April 10th. StockNews.com raised Owens & Minor from a hold rating to a buy rating in a research note on Wednesday, February 21st. 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. Finally, TheStreet raised shares of Owens & Minor from a d+ rating to a c- rating in a research report on Monday, March 4th. One research 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’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $23.86.

Owens & Minor Price Performance

Shares of OMI stock traded down $6.30 on Tuesday, hitting $18.21. 3,025,508 shares of the company’s stock were exchanged, compared to its average volume of 664,330. The company has a 50 day moving average of $25.46 and a 200 day moving average of $21.37. The stock has a market cap of $1.39 billion, a P/E ratio of -33.72, a price-to-earnings-growth ratio of 0.76 and a beta of 0.52. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.11 and a quick ratio of 0.52. Owens & Minor has a 12 month low of $13.34 and a 12 month high of $28.35.

Owens & Minor (NYSE:OMI) last issued its earnings results on Tuesday, February 20th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Owens & Minor had a positive return on equity of 11.62% and a negative net margin of 0.40%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 EPS. On average, equities research analysts predict that Owens & Minor will post 1.54 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Jonathan A. Leon sold 5,000 shares of the company’s stock in a transaction dated 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 owns 84,673 shares in the company, valued at approximately $2,103,277.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Michael Wayne Lowry sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $25.00, for a total transaction of $250,000.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan A. Leon sold 5,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $24.84, for a total transaction of $124,200.00. Following the completion of the sale, the senior vice president now directly owns 84,673 shares of the company’s stock, valued at $2,103,277.32. The disclosure for this sale can be found here. Corporate insiders own 3.59% of the company’s stock.

Hedge Funds Weigh In On Owens & Minor

Several hedge funds have recently modified their holdings of the company. Riverview Trust Co purchased a new stake in shares of Owens & Minor during the first quarter valued at approximately $25,000. Hexagon Capital Partners LLC raised its position in Owens & Minor by 1,240.2% in the first quarter. Hexagon Capital Partners LLC now owns 1,568 shares of the company’s stock worth $43,000 after acquiring an additional 1,451 shares during the period. GAMMA Investing LLC boosted its stake in Owens & Minor by 52.1% in the first quarter. GAMMA Investing LLC now owns 1,644 shares of the company’s stock valued at $46,000 after acquiring an additional 563 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Owens & Minor in the 3rd quarter worth approximately $29,000. Finally, Quest Partners LLC purchased a new position in Owens & Minor in the fourth quarter valued at approximately $41,000. Institutional investors own 98.04% of the company’s stock.

Owens & Minor Company Profile

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.