Owens & Minor, Inc. (OMI) Sets New 52-Week Low Following Weak Earnings

Owens & Minor, Inc. (NYSE:OMI) reached a new 52-week low during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $19.32 and last traded at $0.00, with a volume of shares trading hands. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.10). Owens & Minor had a return on equity of 11.64% and a net margin of 1.02%. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the firm earned $0.51 EPS. Owens & Minor’s revenue for the quarter was down 3.4% compared to the same quarter last year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Thursday, December 14th. Owens & Minor’s dividend payout ratio (DPR) is 65.19%.

Several brokerages have weighed in on OMI. BidaskClub cut shares of Owens & Minor from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Zacks Investment Research raised shares of Owens & Minor from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Jefferies Group LLC reissued a “hold” rating and issued a $32.00 target price (down from $36.00) on shares of Owens & Minor in a report on Wednesday, August 9th. Robert W. Baird reissued a “hold” rating and issued a $28.00 target price on shares of Owens & Minor in a report on Thursday, October 12th. Finally, UBS AG reissued a “sell” rating and issued a $29.50 target price (down from $30.50) on shares of Owens & Minor in a report on Wednesday, August 9th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company currently has an average rating of “Sell” and a consensus price target of $29.75.

Hedge funds have recently added to or reduced their stakes in the business. Flinton Capital Management LLC increased its holdings in Owens & Minor by 62.7% in the 2nd quarter. Flinton Capital Management LLC now owns 3,904 shares of the company’s stock valued at $126,000 after buying an additional 1,504 shares during the period. Creative Planning increased its holdings in Owens & Minor by 2.9% in the 2nd quarter. Creative Planning now owns 4,021 shares of the company’s stock valued at $129,000 after buying an additional 113 shares during the period. LS Investment Advisors LLC increased its holdings in Owens & Minor by 17.1% in the 2nd quarter. LS Investment Advisors LLC now owns 4,987 shares of the company’s stock valued at $161,000 after buying an additional 727 shares during the period. Legg Mason Asset Management Japan Co. Ltd. bought a new position in Owens & Minor in the 2nd quarter valued at about $171,000. Finally, North Star Investment Management Corp. increased its holdings in Owens & Minor by 121.0% in the 2nd quarter. North Star Investment Management Corp. now owns 5,667 shares of the company’s stock valued at $182,000 after buying an additional 3,103 shares during the period. 97.27% of the stock is currently owned by hedge funds and other institutional investors.

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Owens & Minor Company Profile

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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