Take off with Owens & Minor Inc. (OMI): Get ready for trading

Owens & Minor Inc. (NYSE: OMI) stock jumped 0.60% on Friday to $16.65 against a previous-day closing price of $16.55. With 5.43 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.71 million shares. During the session, the Medical Distribution company that operates in wider Healthcare sector, reached to the highest price of $17.06 whereas the lowest price it dropped to was $16.42. The 52-week range on OMI shows that it touched its highest point at $26.37 and its lowest point at $11.79 during that stretch. It currently has a 1-year price target of $20.33. With its current market cap of 1.27 billion, OMI has annualized dividend of $0.01 while the current yield stands at 0.06%. Beta for the stock currently stands at 0.55.

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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 -0.48%, but this was down by -12.41% over a month. Three-month performance dropped to -13.82% while six-month performance rose 29.47%. The stock lost -34.14% in the past year, while it has lost -14.75% so far this year. A look at the trailing 12-month EPS for OMI yields -1.31 with Next year EPS estimates of 2.06. For the next quarter, that number is 0.36. This implies an EPS growth rate of -90.00% for this year and 50.11% for next year.

Float and Shares Shorts:

At present, 75.80 million OMI shares are outstanding with a float of 74.41 million shares on hand for trading. On Aug 30, 2023, short shares totaled 8.71 million, which was 11.38% higher than short shares on Jul 30, 2023. In addition to Mr. Edward A. Pesicka as the firm’s Pres, CEO & Director, Mr. Alexander J. Bruni serves as its Exec. VP & CFO.

Institutional Ownership:

Other institutions hold 7.93% of OMI, in contrast to 60.41% held by mutual funds. Shares owned by individuals account for 38.49%. As the largest shareholder in OMI with 14.63% of the stake, BlackRock Fund Advisors holds 11,198,386 shares worth 11,198,386. A second-largest stockholder of OMI, Fidelity Management & Research Co, holds 8,687,676 shares, controlling over 11.35% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in OMI, holding 8,409,122 shares or 10.99% stake. With a 7.02% stake in OMI, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 5,373,883 shares are owned by the mutual fund manager. The Fidelity Small Cap Value Fund, which owns about 4.05% of OMI stock, is the second-largest Mutual Fund holder. It holds 3,097,946 shares valued at 52.36 million. Vanguard Total Stock Market ETF holds 2.98% of the stake in OMI, owning 2,279,062 shares worth 38.52 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, OMI reported revenue of $2.50B and operating income of $82.69M. The EBITDA in the recently reported quarter was $155.06M and diluted EPS was $0.37.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OMI since 0 analysts follow the stock currently. 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 $24.00 and a low target of $16.00, the average target price over the next 12 months is $20.33. Based on these targets, OMI could surge 44.14% to reach the target high and fall by -3.9% to reach the target low. Reaching the average price target will result in a growth of 22.1% 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.

Summary of Insider Activity:

Insiders traded OMI stock several times over the past three months with 6 Buys and 2 Sells. In these transactions, 16,635 shares were bought while 1,834 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has risen to 38 over the past year. The total number of shares bought during that period was 993,204 while 1,163,896 shares were sold.

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