Owens & Minor (OMI) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Owens & Minor (NYSE:OMI) from a hold rating to a strong sell rating in a research report report published on Tuesday.

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. “

A number of other brokerages also recently weighed in on OMI. Robert W. Baird reaffirmed a hold rating and issued a $28.00 target price on shares of Owens & Minor in a research note on Thursday, October 12th. Leerink Swann reaffirmed a market perform rating and issued a $23.00 target price (down from $34.00) on shares of Owens & Minor in a research note on Thursday, November 2nd. Credit Suisse Group reaffirmed an underperform rating and issued a $17.00 target price (down from $31.00) on shares of Owens & Minor in a research note on Monday, November 20th. ValuEngine downgraded shares of Owens & Minor from a buy rating to a hold rating in a research note on Sunday, December 31st. Finally, JPMorgan Chase & Co. reaffirmed an underweight rating and issued a $22.00 target price on shares of Owens & Minor in a research note on Tuesday, December 19th. Five research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company currently has an average rating of Sell and a consensus price target of $26.50.

Shares of Owens & Minor (OMI) opened at $15.57 on Tuesday. The firm has a market cap of $1,002.66, a P/E ratio of 12.16, a P/E/G ratio of 1.55 and a beta of 0.92. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.77 and a quick ratio of 0.95. Owens & Minor has a one year low of $15.01 and a one year high of $36.73.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, March 14th. This is an increase from Owens & Minor’s previous quarterly dividend of $0.26. This represents a $1.04 annualized dividend and a dividend yield of 6.68%. Owens & Minor’s dividend payout ratio (DPR) is 80.47%.

Several hedge funds have recently bought and sold shares of OMI. Thrivent Financial For Lutherans raised its stake in shares of Owens & Minor by 8.9% during the second quarter. Thrivent Financial For Lutherans now owns 12,370 shares of the company’s stock worth $398,000 after acquiring an additional 1,010 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Owens & Minor by 1.6% during the second quarter. UBS Asset Management Americas Inc. now owns 52,856 shares of the company’s stock worth $1,701,000 after acquiring an additional 834 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Owens & Minor by 1.0% during the second quarter. California Public Employees Retirement System now owns 191,106 shares of the company’s stock worth $6,152,000 after acquiring an additional 1,900 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Owens & Minor by 55.7% during the second quarter. Advisor Group Inc. now owns 11,586 shares of the company’s stock worth $372,000 after acquiring an additional 4,147 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Owens & Minor by 7.8% during the second quarter. Parametric Portfolio Associates LLC now owns 299,490 shares of the company’s stock worth $9,641,000 after acquiring an additional 21,777 shares in the last quarter. 95.61% of the stock is currently owned by hedge funds and other institutional investors.

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About Owens & Minor

Owens & Minor, Inc is a healthcare services company that connects the world of medical products to the point of care. The Company provides supply chain assistance to the providers of healthcare services and the manufacturers of healthcare products, supplies and devices. The Company’s segments include Domestic, International and Clinical & Procedural Solutions (CPS).

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