Owens & Minor Inc. (NYSE: OMI) stock fell -4.32% on Tuesday to $19.47 against a previous-day closing price of $20.35. With 0.75 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.79 million shares. During the session, the Medical Distribution company that operates in wider Healthcare sector, reached to the highest price of $20.45 whereas the lowest price it dropped to was $19.39. The 52-week range on OMI shows that it touched its highest point at $47.24 and its lowest point at $14.10 during that stretch. It currently has a 1-year price target of $20.83. With its current market cap of 1.46 billion, OMI has annualized dividend of $0.01 while the current yield stands at 0.05%. Beta for the stock currently stands at 0.63.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of OMI was down-trending over the past week, with a drop of -5.76%, but this was down by -0.21% over a month. Three-month performance surged to 24.41% while six-month performance fell -45.61%. The stock lost -55.58% in the past year, while it has lost -0.31% so far this year. A look at the trailing 12-month EPS for OMI yields 1.61 with Next year EPS estimates of 2.35. For the next quarter, that number is 0.39. This implies an EPS growth rate of 111.70% for this year and -6.94% for next year. EPS is expected to decline by -9.57% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 10.70%.
Float and Shares Shorts:
At present, 74.91 million OMI shares are outstanding with a float of 73.91 million shares on hand for trading. On Oct 13, 2022, short shares totaled 5.31 million, which was 6.96% higher than short shares on Sep 14, 2022. In addition to Mr. Edward A. Pesicka as the firm’s Pres, CEO & Director, Mr. Nicholas Joseph Pace II serves as its Exec. VP, Gen. Counsel & Corp. Sec.
Through their ownership of 104.94% of OMI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.86% of OMI, in contrast to 67.34% held by mutual funds. Shares owned by individuals account for 34.48%. As the largest shareholder in OMI with 14.50% of the stake, BlackRock Fund Advisors holds 11,053,272 shares worth 11,053,272. A second-largest stockholder of OMI, Fidelity Management & Research Co, holds 8,463,343 shares, controlling over 11.10% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in OMI, holding 8,132,282 shares or 10.67% stake. With a 7.40% stake in OMI, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 5,639,687 shares are owned by the mutual fund manager. The Fidelity Small Cap Value Fund, which owns about 3.53% of OMI stock, is the second-largest Mutual Fund holder. It holds 2,689,000 shares valued at 52.52 million. Vanguard Total Stock Market Index holds 2.87% of the stake in OMI, owning 2,187,613 shares worth 42.72 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OMI since 7 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With OMI analysts setting a high price target of $23.00 and a low target of $17.00, the average target price over the next 12 months is $20.83. Based on these targets, OMI could surge 18.13% to reach the target high and fall by -12.69% to reach the target low. Reaching the average price target will result in a growth of 6.99% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. OMI will report FY 2022 earnings on 02/21/2024. Analysts have provided yearly estimates in a range of $2.56 being high and $2.50 being low. For OMI, this leads to a yearly average estimate of $2.53. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Owens & Minor Inc. surprised analysts by $0.02 when it reported $0.41 EPS against a consensus estimate of $0.39. The surprise factor in the prior quarter was $0.00. Based on analyst estimates, the high estimate for the next quarter is $0.43 and the low estimate is $0.37. The average estimate for the next quarter is thus $0.40.
Summary of Insider Activity:
Insiders traded OMI stock several times over the past three months with 4 Buys and 3 Sells. In these transactions, 10,643 shares were bought while 8,751 shares were sold. The number of buy transactions has increased to 33 while that of sell transactions has risen to 32 over the past year. The total number of shares bought during that period was 1,362,967 while 971,529 shares were sold.