Zacks Investment Research upgraded shares of Owens & Minor (NYSE:OMI) from a hold rating to a buy rating in a research report released on Friday, Zacks.com reports. The brokerage currently has $3.25 price objective on the stock.
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 subject of a number of other reports. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Bank of America set a $25.00 price objective on shares of Bed Bath & Beyond and gave the stock a buy rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Owens & Minor presently has an average rating of Hold and an average target price of $6.13.
Shares of OMI stock opened at $2.64 on Friday. Owens & Minor has a 52-week low of $2.57 and a 52-week high of $19.16. The company has a quick ratio of 0.89, a current ratio of 1.75 and a debt-to-equity ratio of 3.67. The stock has a 50-day moving average price of $2.99. The company has a market cap of $166.15 million, a P/E ratio of 2.30, a price-to-earnings-growth ratio of 1.05 and a beta of 1.74.
Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). Owens & Minor had a positive return on equity of 6.92% and a negative net margin of 4.63%. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts predict that Owens & Minor will post 0.6 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.0025 per share. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Thursday, June 13th. Owens & Minor’s dividend payout ratio is currently 0.87%.
Several institutional investors have recently added to or reduced their stakes in OMI. California Public Employees Retirement System grew its stake in shares of Owens & Minor by 9.8% during the fourth quarter. California Public Employees Retirement System now owns 197,949 shares of the company’s stock worth $1,253,000 after buying an additional 17,740 shares during the last quarter. BlackRock Inc. grew its stake in shares of Owens & Minor by 2.9% during the fourth quarter. BlackRock Inc. now owns 9,208,801 shares of the company’s stock worth $58,293,000 after buying an additional 263,267 shares during the last quarter. Texas Permanent School Fund grew its stake in shares of Owens & Minor by 3.9% during the fourth quarter. Texas Permanent School Fund now owns 40,748 shares of the company’s stock worth $258,000 after buying an additional 1,537 shares during the last quarter. Northern Trust Corp grew its stake in shares of Owens & Minor by 0.9% in the fourth quarter. Northern Trust Corp now owns 811,604 shares of the company’s stock worth $5,138,000 after purchasing an additional 7,069 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Owens & Minor in the fourth quarter worth $122,000. 90.00% of the stock is owned by hedge funds and other institutional investors.
About Owens & Minor
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.
See Also: How does inflation affect different investments?
Get a free copy of the Zacks research report on Owens & Minor (OMI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Owens & Minor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Owens & Minor and related companies with MarketBeat.com's FREE daily email newsletter.