Zacks Investment Research Upgrades Owens & Minor (OMI) to “Hold”

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 several other research reports. Barclays began coverage on Owens & Minor in a research note on Thursday, March 8th. They issued an “underweight” rating and a $16.00 price target on the stock. ValuEngine cut Owens & Minor from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Bank of America began coverage on Owens & Minor in a research note on Tuesday, February 27th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, JPMorgan Chase cut their price target on Owens & Minor from $21.00 to $20.00 and set an “underweight” rating on the stock in a research note on Thursday, February 15th. Six research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $24.28.

Shares of Owens & Minor opened at $16.90 on Wednesday, according to MarketBeat. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 1.65. Owens & Minor has a 12 month low of $16.54 and a 12 month high of $16.78. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 10.31, a P/E/G ratio of 1.04 and a beta of 1.05.

Owens & Minor (NYSE:OMI) last released its quarterly earnings results on Thursday, May 10th. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.04). Owens & Minor had a return on equity of 9.65% and a net margin of 0.66%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the firm posted $0.44 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. equities research analysts predict that Owens & Minor will post 2 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in OMI. Schwab Charles Investment Management Inc. increased its holdings in Owens & Minor by 1.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 377,486 shares of the company’s stock valued at $7,127,000 after buying an additional 7,054 shares during the last quarter. Foster & Motley Inc. increased its holdings in Owens & Minor by 34.0% in the fourth quarter. Foster & Motley Inc. now owns 31,974 shares of the company’s stock valued at $604,000 after buying an additional 8,105 shares during the last quarter. Smith Graham & Co. Investment Advisors LP increased its holdings in Owens & Minor by 50.3% in the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 443,814 shares of the company’s stock valued at $8,379,000 after buying an additional 148,552 shares during the last quarter. Bowling Portfolio Management LLC bought a new stake in Owens & Minor in the fourth quarter valued at about $644,000. Finally, SG Americas Securities LLC increased its holdings in Owens & Minor by 12.3% in the fourth quarter. SG Americas Securities LLC now owns 134,397 shares of the company’s stock valued at $2,537,000 after buying an additional 14,694 shares during the last quarter. 95.17% 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 services company in the United States, the United Kingdom, Ireland, France, Germany, and other European countries. It operates through three segments: Domestic, International, and Proprietary Products. The company offers supply chain assistance to the providers of healthcare services; and the manufacturers of healthcare products, supplies, and devices.

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Analyst Recommendations for Owens & Minor (NYSE:OMI)

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