Owens & Minor, Inc. (OMI) Sees Significant Drop in Short Interest

Owens & Minor, Inc. (NYSE:OMI) was the recipient of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 6,494,100 shares, a decrease of 36.3% from the October 31st total of 10,199,571 shares. Approximately 10.7% of the company’s shares are short sold. Based on an average trading volume of 1,598,807 shares, the short-interest ratio is currently 4.1 days.

A number of research analysts recently commented on OMI shares. Jefferies Financial Group reiterated a “hold” rating and issued a $8.50 price objective on shares of Owens & Minor in a report on Friday, November 2nd. Bank of America cut Owens & Minor from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 31st. Barclays restated an “underweight” rating and set a $8.00 price target (down from $12.00) on shares of Owens & Minor in a research note on Thursday, November 1st. Finally, Leerink Swann set a $9.00 price target on Owens & Minor and gave the stock a “hold” rating in a research note on Wednesday, October 31st. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Owens & Minor has a consensus rating of “Sell” and an average target price of $12.90.

A number of large investors have recently added to or reduced their stakes in OMI. Vanguard Group Inc. boosted its stake in shares of Owens & Minor by 0.5% during the third quarter. Vanguard Group Inc. now owns 6,381,521 shares of the company’s stock worth $105,422,000 after buying an additional 33,197 shares during the period. Morgan Stanley boosted its stake in shares of Owens & Minor by 23.7% during the third quarter. Morgan Stanley now owns 1,372,424 shares of the company’s stock worth $22,673,000 after buying an additional 262,792 shares during the period. Legal & General Group Plc boosted its stake in shares of Owens & Minor by 8.4% during the third quarter. Legal & General Group Plc now owns 205,054 shares of the company’s stock worth $3,392,000 after buying an additional 15,863 shares during the period. Teachers Advisors LLC boosted its stake in shares of Owens & Minor by 29.9% during the third quarter. Teachers Advisors LLC now owns 152,468 shares of the company’s stock worth $2,519,000 after buying an additional 35,108 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in shares of Owens & Minor by 64.9% during the third quarter. Macquarie Group Ltd. now owns 54,900 shares of the company’s stock worth $907,000 after buying an additional 21,600 shares during the period. Institutional investors own 88.94% of the company’s stock.

NYSE:OMI opened at $7.31 on Tuesday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.88 and a current ratio of 1.71. Owens & Minor has a 52 week low of $7.17 and a 52 week high of $22.91. The firm has a market cap of $475.11 million, a price-to-earnings ratio of 4.54, a PEG ratio of 1.46 and a beta of 1.66.

Owens & Minor (NYSE:OMI) last released its quarterly earnings results on Wednesday, October 31st. The company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Owens & Minor had a positive return on equity of 9.50% and a negative net margin of 1.57%. The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. As a group, analysts anticipate that Owens & Minor will post 1.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 17th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Friday, December 14th. Owens & Minor’s dividend payout ratio (DPR) is 64.60%.

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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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