Owens & Minor, Inc. (NYSE:OMI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

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 have also recently issued reports on OMI. BidaskClub upgraded Owens & Minor from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Jefferies Group LLC restated a “hold” rating and set a $36.00 price objective on shares of Owens & Minor in a report on Friday, July 7th. UBS AG restated a “sell” rating and set a $29.50 price objective (down previously from $30.50) on shares of Owens & Minor in a report on Wednesday, August 9th. Finally, Robert W. Baird upgraded Owens & Minor from an “underperform” rating to a “neutral” rating and set a $28.00 price objective for the company in a report on Friday, September 1st. Four investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Owens & Minor currently has an average rating of “Sell” and a consensus price target of $31.10.

Shares of Owens & Minor (OMI) opened at 28.09 on Thursday. The company has a market cap of $1.72 billion, a P/E ratio of 17.87 and a beta of 1.03. The firm has a 50 day moving average price of $28.48 and a 200-day moving average price of $31.17. Owens & Minor has a 12 month low of $26.91 and a 12 month high of $37.02.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. Owens & Minor had a return on equity of 11.64% and a net margin of 1.02%. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The business’s revenue was down 8.8% on a year-over-year basis. Analysts anticipate that Owens & Minor will post $1.92 earnings per share for the current fiscal year.

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Several hedge funds have recently modified their holdings of OMI. Flinton Capital Management LLC boosted its stake in shares of Owens & Minor by 62.7% in the second quarter. Flinton Capital Management LLC now owns 3,904 shares of the company’s stock valued at $126,000 after buying an additional 1,504 shares during the period. Creative Planning boosted its stake in shares of Owens & Minor by 2.9% in the second quarter. Creative Planning now owns 4,021 shares of the company’s stock valued at $129,000 after buying an additional 113 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Owens & Minor by 17.1% in the second quarter. LS Investment Advisors LLC now owns 4,987 shares of the company’s stock valued at $161,000 after buying an additional 727 shares during the period. Legg Mason Asset Management Japan Co. Ltd. bought a new stake in shares of Owens & Minor in the second quarter valued at approximately $171,000. Finally, North Star Investment Management Corp. boosted its stake in shares of Owens & Minor by 121.0% in the second quarter. North Star Investment Management Corp. now owns 5,667 shares of the company’s stock valued at $182,000 after buying an additional 3,103 shares during the period. Institutional investors and hedge funds own 97.77% of the company’s stock.

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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