Citigroup Lowers Owens & Minor (NYSE:OMI) Price Target to $21.00

Posted by on Aug 6th, 2023

Owens & Minor (NYSE:OMI – Get Free Report) had its target price cut by equities researchers at Citigroup from $23.00 to $21.00 in a research note issued to investors on Friday, FlyOnTheWall reports. Citigroup’s target price would suggest a potential upside of 10.41% from the company’s current price.

OMI has been the topic of a number of other reports. Robert W. Baird boosted their price objective on shares of Owens & Minor from $18.00 to $21.00 in a research report on Monday, May 8th. UBS Group boosted their price objective on shares of Owens & Minor from $22.00 to $24.00 in a research report on Monday, May 8th. Finally, StockNews.com began coverage on shares of Owens & Minor in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, Owens & Minor currently has an average rating of “Hold” and a consensus target price of $19.50.

Owens & Minor Trading Up 1.3 %

NYSE:OMI opened at $19.02 on Friday. The company has a fifty day moving average of $19.31 and a 200 day moving average of $14.22. Owens & Minor has a 52 week low of $11.79 and a 52 week high of $35.74. The company has a quick ratio of 0.60, a current ratio of 1.39 and a debt-to-equity ratio of 2.56. The firm has a market capitalization of $1.45 billion, a P/E ratio of -33.96, a P/E/G ratio of 3.70 and a beta of 0.51.

Owens & Minor (NYSE:OMI – Get Free Report) last posted its quarterly earnings results on Friday, August 4th. The company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Owens & Minor had a negative net margin of 0.41% and a positive return on equity of 12.12%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the business posted $0.76 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, research analysts predict that Owens & Minor will post 1.36 earnings per share for the current year.

Insider Transactions at Owens & Minor

In related news, CEO Edward A. Pesicka sold 38,780 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $19.24, for a total value of $746,127.20. Following the transaction, the chief executive officer now owns 747,153 shares in the company, valued at approximately $14,375,223.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Edward A. Pesicka sold 118,928 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $21.19, for a total value of $2,520,084.32. Following the transaction, the chief executive officer now owns 904,861 shares in the company, valued at approximately $19,174,004.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Edward A. Pesicka sold 38,780 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $19.24, for a total transaction of $746,127.20. Following the completion of the transaction, the chief executive officer now owns 747,153 shares in the company, valued at approximately $14,375,223.72. The disclosure for this sale can be found here. Insiders have sold 286,635 shares of company stock valued at $5,958,129 in the last three months. 3.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Owens & Minor

Several hedge funds and other institutional investors have recently bought and sold shares of OMI. Nomura Asset Management Co. Ltd. lifted its stake in Owens & Minor by 68.3% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 1,700 shares of the company’s stock valued at $25,000 after acquiring an additional 690 shares during the period. Lindbrook Capital LLC lifted its stake in Owens & Minor by 60.6% during the 2nd quarter. Lindbrook Capital LLC now owns 1,487 shares of the company’s stock valued at $28,000 after acquiring an additional 561 shares during the period. Versant Capital Management Inc lifted its stake in Owens & Minor by 147.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,593 shares of the company’s stock valued at $30,000 after acquiring an additional 948 shares during the period. Allworth Financial LP lifted its stake in Owens & Minor by 1,680.6% during the 2nd quarter. Allworth Financial LP now owns 2,475 shares of the company’s stock valued at $47,000 after acquiring an additional 2,336 shares during the period. Finally, Clear Street Markets LLC bought a new position in Owens & Minor during the 4th quarter valued at about $50,000. Institutional investors own 96.83% of the company’s stock.

About Owens & Minor

(Get Free Report)

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates in two segments, Products & Healthcare Services and Patient Direct. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.

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Analyst Recommendations for Owens & Minor (NYSE:OMI)

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