Zacks Investment Research Downgrades Owens & Minor, Inc. (OMI) to Hold
Zacks Investment Research cut shares of Owens & Minor, Inc. (NYSE:OMI) from a strong-buy rating to a hold rating in a research report released on Wednesday morning.
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. “
A number of other brokerages also recently commented on OMI. UBS AG reaffirmed a sell rating and issued a $29.50 price target (down previously from $30.50) on shares of Owens & Minor in a report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a hold rating and issued a $36.00 price target on shares of Owens & Minor in a report on Friday, July 7th. Robert W. Baird raised shares of Owens & Minor from an underperform rating to a neutral rating and set a $28.00 price target for the company in a report on Friday, September 1st. Finally, BidaskClub downgraded shares of Owens & Minor from a hold rating to a sell rating in a report on Tuesday, June 20th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company has an average rating of Hold and an average target price of $31.10.
Owens & Minor (NYSE:OMI) opened at 29.36 on Wednesday. The stock has a 50 day moving average price of $28.42 and a 200 day moving average price of $31.32. Owens & Minor has a 12-month low of $26.91 and a 12-month high of $37.02. The stock has a market cap of $1.80 billion, a P/E ratio of 18.68 and a beta of 1.03.
Owens & Minor (NYSE:OMI) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.43 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.43. Owens & Minor had a net margin of 1.02% and a return on equity of 11.64%. The firm had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the firm earned $0.52 EPS. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, analysts forecast that Owens & Minor will post $1.92 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 3.51%. The ex-dividend date was Thursday, September 14th. Owens & Minor’s payout ratio is currently 65.19%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its stake in Owens & Minor by 0.3% in the first quarter. PNC Financial Services Group Inc. now owns 7,269 shares of the company’s stock worth $251,000 after purchasing an additional 20 shares during the last quarter. Security National Bank of Sioux City Iowa IA lifted its stake in Owens & Minor by 0.3% in the first quarter. Security National Bank of Sioux City Iowa IA now owns 18,604 shares of the company’s stock worth $644,000 after purchasing an additional 49 shares during the last quarter. Isthmus Partners LLC lifted its stake in Owens & Minor by 0.4% in the second quarter. Isthmus Partners LLC now owns 17,425 shares of the company’s stock worth $561,000 after purchasing an additional 74 shares during the last quarter. Blair William & Co. IL lifted its stake in Owens & Minor by 0.5% in the second quarter. Blair William & Co. IL now owns 20,638 shares of the company’s stock worth $664,000 after purchasing an additional 97 shares during the last quarter. Finally, Creative Planning lifted its stake in Owens & Minor by 2.9% in the second quarter. Creative Planning now owns 4,021 shares of the company’s stock worth $129,000 after purchasing an additional 113 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.
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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