Owens & Minor (OMI) Raised to “Hold” at Zacks Investment Research
Owens & Minor (NYSE:OMI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Owens & Minor, Inc. is a global healthcare solutions company dedicated to Connecting the World of Medical Products to the Point of CareSM by providing vital supply chain services to healthcare providers and manufacturers of healthcare products. Owens & Minor provides logistics services across the spectrum of medical products from disposable medical supplies to devices and implants. With logistics platforms strategically located in the United States and Europe, Owens & Minor serves markets where three quarters of global healthcare spending occurs. Owens & Minor’s customers span the healthcare market from independent hospitals to large integrated healthcare networks, as well as group purchasing organizations, healthcare products manufacturers, the federal government, and healthcare patients at home through the Byram Healthcare subsidiary. “
OMI has been the topic of a number of other reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $22.00 price objective on shares of Owens & Minor in a research note on Tuesday, December 19th. Credit Suisse Group reaffirmed an “underperform” rating and issued a $17.00 price objective (down from $31.00) on shares of Owens & Minor in a research note on Monday, November 20th. Robert W. Baird reaffirmed a “hold” rating and issued a $28.00 price objective on shares of Owens & Minor in a research note on Thursday, October 12th. ValuEngine lowered shares of Owens & Minor from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Leerink Swann reaffirmed a “market perform” rating and issued a $23.00 price objective (down from $34.00) on shares of Owens & Minor in a research note on Thursday, November 2nd. Four analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $26.50.
Owens & Minor (NYSE:OMI) last issued its earnings results on Wednesday, November 1st. The company reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.10). The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.40 billion. Owens & Minor had a return on equity of 10.85% and a net margin of 0.83%. The firm’s revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share. analysts predict that Owens & Minor will post 1.77 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of OMI. Flinton Capital Management LLC increased its holdings in Owens & Minor by 62.7% during 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. Legg Mason Asset Management Japan Co. Ltd. purchased a new stake in Owens & Minor during the second quarter worth about $171,000. Riverhead Capital Management LLC increased its holdings in Owens & Minor by 65.6% during the second quarter. Riverhead Capital Management LLC now owns 6,128 shares of the company’s stock worth $197,000 after buying an additional 2,428 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in Owens & Minor by 42.9% during the third quarter. Oppenheimer & Co. Inc. now owns 9,376 shares of the company’s stock worth $274,000 after buying an additional 2,816 shares during the last quarter. Finally, QS Investors LLC increased its holdings in Owens & Minor by 22.7% during the second quarter. QS Investors LLC now owns 9,737 shares of the company’s stock worth $313,000 after buying an additional 1,803 shares during the last quarter. Institutional investors and hedge funds own 97.68% of the company’s stock.
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About Owens & Minor
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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