Owens & Minor Inc. (NYSE: OMI) Is Getting Increasingly Hard To Ignore


    Renaissance Technologies LLC recently announced the acquisition of new stake in Owens & Minor Inc. (NYSE:OMI). The institutional investor has increased its shareholding in the Healthcare company by 21.59% to 3.03 million shares with purchase of 0.54 million shares. This fresh investment now brings its stake to 4.81% valued currently at $23.1 million. In addition, LSV Asset Management raised its holdings by 89000.0 to 1.81 million shares. And Goldman Sachs & Co. LLC (Private. has lifted its position by 615.04% or 1.35 million shares – to 1.57 million shares.

    With over 8.81 million Owens & Minor Inc. (OMI) shares trading Wednesday and a closing price of $14.91 on the day, the dollar volume was approximately $131.29 million. The shares have shown a positive weekly performance of 62.09% and its price on 07/22/20 gained nearly 15.85%. Currently, there are 60.57M common shares owned by the public and among those 59.84M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for OMI have a consensus price objective of $9.36. The analysts have set the share’s price value over the next 12 months at a high of $14.00 and a low of $3.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Owens & Minor Inc. stock is 3.40 for the next 12 months. The average price target is -140.1% below its last price level and a downside to the estimated low will see the stock lose -326.0% over that period. But an upside of -6.5% will see the stock hit the forecast high price target while mean target price for the stock is $10.00.

    Insiders at the company have transacted a total of 41 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 930,496 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 99,911 shares.

    The top 3 mutual fund holders in Owens & Minor Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. iShares Core S&P Small Cap ETF owns 3.91 million shares of the company’s stock, all valued at over $29.8 million. iShares Russell 2000 ETF sold 32637.0 shares to bring its total holdings to over 1.28 million shares at a value of $9.79 million. iShares Russell 2000 ETF now owns shares totaling to 2.04% of the shares outstanding.

    Shares of Owens & Minor Inc. (NYSE: OMI) opened at $13.285, up $0.42 from a prior closing price of $12.87. However, the script later closed the day at $14.91, up 15.85%. The company’s stock has a 5-day price change of 62.09% and 92.95% over the past three months. OMI shares are trading 148.94% year to date (YTD), with the 12-month market performance up to 410.71% higher. It has a 12-month low price of $2.43 and touched a high of $15.40 over the same period. Currently, 8.81 million shares have been traded, compared to an average intraday trading volume of 2.81 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 82.08%, 90.75%, and 120.95% respectively.

    Institutional ownership of Owens & Minor Inc. (NYSE: OMI) shares accounts for 93.10% of the company’s 60.57M shares outstanding. Mutual fund holders own 52.46%, while other institutional holders and individual stakeholders account for 7.60% and 36.41% respectively.

    It has a market capitalization of $814.93M and a beta (3y monthly) value of 0.16. The earnings-per-share (ttm) stands at -$0.38. Price movements for the stock have been influenced by the stock’s volatility, which stands at 15.14% over the week and 7.01% over the month.

    Analysts forecast that Owens & Minor Inc. (OMI) will achieve an EPS of $0.06 for the current quarter, $0.27 for the next quarter and $1 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.09 while analysts give the company a high EPS estimate of $0.2. Comparatively, EPS for the current quarter was $0.1 a year ago. Earnings per share for the fiscal year are expected to increase by 94.30%, and 30.26% over the next financial year. EPS should grow at an annualized rate of -8.70% over the next five years, compared to -18.70% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Owens & Minor Inc. (OMI) as a “Hold” at a consensus score of 3.40. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 2 of the 7 advise that investors “hold,” and 3 rated it as a “Sell.”

    Looking at the support for the OMI, a number of firms have released research notes about the stock. Robert W. Baird stated their Outperform rating for the stock in a research note on July 21, 2020, with the firm’s price target at $8-$14. BofA Securities coverage for the Owens & Minor Inc. (OMI) stock in a research note released on July 21, 2020 offered a Buy rating with a price target of $12. Robert W. Baird was of a view on May 05, 2020 that the stock is Neutral, while Credit Suisse gave the stock Neutral rating on April 23, 2020, issuing a price target of $8. Robert W. Baird on their part issued Outperform rating on January 21, 2020.


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