Short Interest in Owens & Minor, Inc. (NYSE:OMI) Decreases By 29.3%

by · The Markets Daily

Owens & Minor, Inc. (NYSE:OMI – Get Free Report) saw a large decline in short interest in September. As of September 30th, there was short interest totalling 4,630,000 shares, a decline of 29.3% from the September 15th total of 6,550,000 shares. Approximately 6.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,000,000 shares, the short-interest ratio is presently 4.6 days.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on OMI shares. StockNews.com downgraded Owens & Minor from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Bank of America decreased their target price on Owens & Minor from $18.00 to $16.00 and set an “underperform” rating on the stock in a report on Tuesday, June 25th. JPMorgan Chase & Co. decreased their target price on Owens & Minor from $22.00 to $18.00 and set an “underweight” rating on the stock in a report on Wednesday, August 21st. Robert W. Baird decreased their target price on Owens & Minor from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Finally, Citigroup upgraded Owens & Minor from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $24.00 to $19.00 in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.00.

Read Our Latest Report on OMI

Hedge Funds Weigh In On Owens & Minor

Several large investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in Owens & Minor by 52.1% during the first quarter. GAMMA Investing LLC now owns 1,644 shares of the company’s stock valued at $46,000 after acquiring an additional 563 shares during the period. Quarry LP grew its stake in shares of Owens & Minor by 38.8% in the 4th quarter. Quarry LP now owns 2,573 shares of the company’s stock valued at $50,000 after purchasing an additional 719 shares during the period. Riverview Trust Co bought a new stake in shares of Owens & Minor in the 1st quarter valued at approximately $25,000. ProShare Advisors LLC grew its stake in shares of Owens & Minor by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 15,021 shares of the company’s stock valued at $416,000 after purchasing an additional 1,029 shares during the period. Finally, Texas Permanent School Fund Corp grew its stake in shares of Owens & Minor by 1.8% in the 1st quarter. Texas Permanent School Fund Corp now owns 66,953 shares of the company’s stock valued at $1,855,000 after purchasing an additional 1,156 shares during the period. Institutional investors and hedge funds own 98.04% of the company’s stock.

Owens & Minor Stock Up 0.8 %

Shares of NYSE:OMI traded up $0.11 on Friday, reaching $13.57. The company had a trading volume of 427,169 shares, compared to its average volume of 834,210. Owens & Minor has a twelve month low of $12.36 and a twelve month high of $28.35. The stock has a 50-day moving average price of $15.24 and a 200 day moving average price of $17.77. The stock has a market capitalization of $1.05 billion, a P/E ratio of -24.23, a P/E/G ratio of 0.43 and a beta of 0.39. The company has a quick ratio of 0.51, a current ratio of 1.09 and a debt-to-equity ratio of 2.17.

Owens & Minor (NYSE:OMI – Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Owens & Minor had a positive return on equity of 14.66% and a negative net margin of 0.40%. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities analysts expect that Owens & Minor will post 1.57 EPS for the current year.

Owens & Minor Company Profile

(Get Free Report)

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

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