Owens & Minor, Inc. (NYSE:OMI) shares dropped 8% during mid-day trading on Wednesday . The company traded as low as $4.61 and last traded at $4.73, approximately 1,214,171 shares traded hands during mid-day trading. A decline of 20% from the average daily volume of 1,518,688 shares. The stock had previously closed at $5.14.
OMI has been the subject of a number of recent research reports. ValuEngine raised Owens & Minor from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Zacks Investment Research cut Owens & Minor from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $6.13.
The company has a market capitalization of $303.47 million, a P/E ratio of 4.11, a price-to-earnings-growth ratio of 2.08 and a beta of 1.74. The company’s 50 day moving average price is $3.23. The company has a current ratio of 1.68, a quick ratio of 0.84 and a debt-to-equity ratio of 3.60.
Owens & Minor (NYSE:OMI) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Owens & Minor had a positive return on equity of 5.53% and a negative net margin of 2.88%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. As a group, analysts expect that Owens & Minor, Inc. will post 0.64 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.002 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.01 annualized dividend and a dividend yield of 0.17%. Owens & Minor’s payout ratio is 0.87%.
Several hedge funds have recently modified their holdings of OMI. Blackstone Group Inc acquired a new stake in shares of Owens & Minor in the second quarter valued at about $8,287,000. Invesco Ltd. increased its stake in shares of Owens & Minor by 147.3% in the second quarter. Invesco Ltd. now owns 2,404,873 shares of the company’s stock valued at $7,695,000 after buying an additional 1,432,480 shares during the period. Norges Bank acquired a new stake in shares of Owens & Minor in the fourth quarter valued at about $6,208,000. SG Americas Securities LLC increased its stake in shares of Owens & Minor by 578.7% in the first quarter. SG Americas Securities LLC now owns 658,265 shares of the company’s stock valued at $2,699,000 after buying an additional 561,274 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Owens & Minor by 123.1% in the second quarter. Renaissance Technologies LLC now owns 826,550 shares of the company’s stock valued at $2,645,000 after buying an additional 456,100 shares during the period. 88.03% of the stock is owned by institutional investors.
Owens & Minor Company Profile (NYSE:OMI)
Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company in the United States and internationally. It operates through two segments, Global Solutions and Global Products. The Global Solutions segment offers a portfolio of products and services to healthcare providers and manufacturers.
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