Owens & Minor (NYSE:OMI) Trading 4.6% Higher – Here’s What Happened

Owens & Minor, Inc. (NYSE:OMI) shot up 4.6% during mid-day trading on Monday . The stock traded as high as $6.59 and last traded at $6.51. 400,874 shares traded hands during trading, a decline of 66% from the average session volume of 1,188,544 shares. The stock had previously closed at $6.22.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays lowered their price target on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Robert W. Baird decreased their price objective on Owens & Minor from $14.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday. UBS Group lowered their target price on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Citigroup decreased their price target on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $16.21.

Owens & Minor Price Performance

The firm has a market capitalization of $527.04 million, a price-to-earnings ratio of -10.52, a P/E/G ratio of 0.20 and a beta of 0.48. The company’s 50 day moving average is $11.79 and its 200 day moving average is $13.39. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11.

Institutional Investors Weigh In On Owens & Minor

Several institutional investors have recently made changes to their positions in the stock. Royce & Associates LP raised its holdings in Owens & Minor by 179.4% in the 3rd quarter. Royce & Associates LP now owns 80,914 shares of the company’s stock valued at $1,270,000 after acquiring an additional 51,955 shares in the last quarter. FMR LLC increased its position in shares of Owens & Minor by 0.8% in the third quarter. FMR LLC now owns 11,564,624 shares of the company’s stock worth $181,449,000 after purchasing an additional 90,862 shares during the period. Waldron Private Wealth LLC acquired a new position in Owens & Minor in the fourth quarter valued at about $406,000. JPMorgan Chase & Co. lifted its position in Owens & Minor by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 376,830 shares of the company’s stock worth $5,912,000 after purchasing an additional 152,999 shares during the period. Finally, Foundry Partners LLC acquired a new stake in Owens & Minor during the third quarter worth about $5,238,000. 98.04% of the stock is currently owned by institutional investors.

About Owens & Minor

Owens & Minor, Inc is a healthcare solutions company, which engages in the product manufacturing and delivery, home health supply, and perioperative services to support care through the hospital and into the home. It operates through the Products and Healthcare Services, and Patient Direct segments.