Owens & Minor (NYSE:OMI) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Owens & Minor (NYSE:OMI) from a sell rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

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. “

Other research analysts have also recently issued research reports about the company. ValuEngine cut 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 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 and six have assigned a hold rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $6.21.

OMI stock opened at $3.18 on Wednesday. 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 company has a market cap of $200.14 million, a PE ratio of 4.24, a price-to-earnings-growth ratio of 1.31 and a beta of 1.74. The stock’s fifty day moving average price is $3.05. Owens & Minor has a fifty-two week low of $2.61 and a fifty-two week high of $19.16.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.45 billion. Owens & Minor had a positive return on equity of 6.92% and a negative net margin of 4.63%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. Equities research analysts expect that Owens & Minor will post 0.58 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.0025 dividend. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend was Thursday, June 13th. Owens & Minor’s payout ratio is currently 0.87%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Advisors LP bought a new stake in Owens & Minor during the first quarter worth $56,000. Campbell & CO Investment Adviser LLC grew its holdings in Owens & Minor by 311.9% during the first quarter. Campbell & CO Investment Adviser LLC now owns 49,840 shares of the company’s stock worth $204,000 after buying an additional 37,740 shares in the last quarter. NumerixS Investment Technologies Inc grew its holdings in Owens & Minor by 1,454.8% during the first quarter. NumerixS Investment Technologies Inc now owns 48,200 shares of the company’s stock worth $196,000 after buying an additional 45,100 shares in the last quarter. Royce & Associates LP boosted its position in Owens & Minor by 16.3% in the first quarter. Royce & Associates LP now owns 1,355,786 shares of the company’s stock worth $5,559,000 after purchasing an additional 190,000 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Owens & Minor by 199.5% in the first quarter. Acadian Asset Management LLC now owns 228,012 shares of the company’s stock worth $935,000 after purchasing an additional 151,886 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

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.

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