Owens & Minor (OMI) Downgraded by Zacks Investment Research to Strong Sell

Owens & Minor (NYSE:OMI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Friday, December 22nd.

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. “

A number of other equities analysts also recently commented on the company. JPMorgan Chase & Co. restated an “underweight” rating and issued a $22.00 price objective on shares of Owens & Minor in a report on Tuesday, December 19th. Credit Suisse Group restated an “underperform” rating and issued a $17.00 price objective (down previously from $31.00) on shares of Owens & Minor in a report on Monday, November 20th. Robert W. Baird upgraded Owens & Minor from an “underperform” rating to a “neutral” rating and set a $28.00 price target on the stock in a report on Friday, September 1st. Finally, Leerink Swann reiterated a “market perform” rating and set a $23.00 price target (down previously from $34.00) on shares of Owens & Minor in a report on Thursday, November 2nd. Four equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.50.

Owens & Minor (OMI) traded down $0.15 during mid-day trading on Friday, reaching $20.66. 641,844 shares of the company’s stock were exchanged, compared to its average volume of 1,029,936. The company has a quick ratio of 0.95, a current ratio of 1.77 and a debt-to-equity ratio of 0.91. Owens & Minor has a 52 week low of $17.75 and a 52 week high of $37.02. The stock has a market capitalization of $1,274.60, a price-to-earnings ratio of 16.14, a PEG ratio of 1.84 and a beta of 0.88.

Owens & Minor (NYSE:OMI) last issued its earnings results on Wednesday, November 1st. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.10). Owens & Minor had a net margin of 0.83% and a return on equity of 10.85%. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the company earned $0.51 EPS. Owens & Minor’s revenue for the quarter was down 3.4% on a year-over-year basis. analysts forecast that Owens & Minor will post 1.77 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of OMI. Great West Life Assurance Co. Can boosted its position in shares of Owens & Minor by 6.1% in the second quarter. Great West Life Assurance Co. Can now owns 37,609 shares of the company’s stock valued at $1,210,000 after acquiring an additional 2,171 shares during the period. Sei Investments Co. lifted its position in Owens & Minor by 36.4% in the second quarter. Sei Investments Co. now owns 31,721 shares of the company’s stock worth $1,022,000 after purchasing an additional 8,459 shares during the period. Arizona State Retirement System lifted its position in Owens & Minor by 1.6% in the second quarter. Arizona State Retirement System now owns 25,800 shares of the company’s stock worth $831,000 after purchasing an additional 400 shares during the period. Bank of New York Mellon Corp lifted its position in Owens & Minor by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 1,097,683 shares of the company’s stock worth $35,334,000 after purchasing an additional 5,844 shares during the period. Finally, Legal & General Group Plc lifted its position in Owens & Minor by 5.0% in the second quarter. Legal & General Group Plc now owns 102,092 shares of the company’s stock worth $3,286,000 after purchasing an additional 4,846 shares during the period. 97.68% of the stock is owned by institutional investors.

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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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