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

Owens & Minor (NYSE:OMI) had its price objective raised by equities research analysts at Citigroup from $24.00 to $28.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective would indicate a potential upside of 10.28% from the stock’s current price.

Other research analysts also recently issued reports about the stock. StockNews.com raised shares of Owens & Minor from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. Leerink Partnrs reiterated a “market perform” rating on shares of Owens & Minor in a research report on Monday, February 26th. Barclays boosted their price objective 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. Robert W. Baird raised their target price on Owens & Minor from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Finally, UBS Group decreased their price target on Owens & Minor from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.86.

Owens & Minor Stock Performance

NYSE OMI traded down $0.03 during trading hours on Tuesday, reaching $25.39. 58,632 shares of the company were exchanged, compared to its average volume of 623,818. The stock has a market capitalization of $1.94 billion, a P/E ratio of -46.96, a P/E/G ratio of 0.79 and a beta of 0.43. The company has a quick ratio of 0.52, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. Owens & Minor has a 1 year low of $13.34 and a 1 year high of $28.35. The business’s 50 day simple moving average is $25.33 and its 200-day simple moving average is $21.26.

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

Insider Transactions at Owens & Minor

In other Owens & Minor news, SVP Jonathan A. Leon sold 5,000 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now owns 84,673 shares of the company’s stock, valued at $2,103,277.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Michael Wayne Lowry sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $25.00, for a total value of $250,000.00. Following the sale, the senior vice president now directly owns 71,654 shares of the company’s stock, valued at approximately $1,791,350. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Jonathan A. Leon sold 5,000 shares of the firm’s 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 transaction, the senior vice president now directly owns 84,673 shares of the company’s stock, valued at approximately $2,103,277.32. The disclosure for this sale can be found here. Corporate insiders own 2.62% of the company’s stock.

Institutional Investors Weigh In On Owens & Minor

A number of institutional investors have recently modified their holdings of OMI. Riverview Trust Co purchased a new position in shares of Owens & Minor in the 1st quarter worth about $25,000. DekaBank Deutsche Girozentrale bought a new position in shares of Owens & Minor in the third quarter worth approximately $29,000. Quest Partners LLC purchased a new stake in shares of Owens & Minor during the fourth quarter valued at approximately $41,000. Hexagon Capital Partners LLC grew its holdings in shares of Owens & Minor by 1,240.2% during the first quarter. Hexagon Capital Partners LLC now owns 1,568 shares of the company’s stock valued at $43,000 after buying an additional 1,451 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Owens & Minor by 52.1% during 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 in the last quarter. 98.04% of the stock is owned by hedge funds and other institutional investors.

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.