Owens & Minor, Inc. (NYSE: OMI) stock jumped 4.17% on Friday to $18.75 against a previous-day closing price of $18.00. With 0.96 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.86 million shares. During the session, the Medical Distribution company that operates in wider Healthcare sector, reached to the highest price of $18.75 whereas the lowest price it dropped to was $17.84. The 52-week range on OMI shows that it touched its highest point at $22.86 and its lowest point at $11.79 during that stretch. It currently has a 1-year price target of $19.40. Beta for the stock currently stands at 0.43.
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 up-trending over the past week, with a rise of 8.89%, but this was up by 32.32% over a month. Three-month performance surged to 18.97% while six-month performance fell -7.54%. The stock lost -4.43% in the past year, while it has lost -3.99% so far this year. A look at the trailing 12-month EPS for OMI yields -1.55 with Next year EPS estimates of 1.55. For the next quarter, that number is 0.69. This implies an EPS growth rate of -43.51% for this year and 13.50% for next year.
Float and Shares Shorts:
At present, 76.28 million OMI shares are outstanding with a float of 67.86 million shares on hand for trading. On Oct 30, 2023, short shares totaled 7.46 million, which was 9.75% higher than short shares on Sep 28, 2023. In addition to Mr. Edward A. Pesicka as the firm’s President, CEO & Director, Mr. Alexander J. Bruni serves as its Executive VP & CFO.
Institutional Ownership:
Through their ownership of 97.28% of OMI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.90% of OMI, in contrast to 67.69% held by mutual funds. Shares owned by individuals account for 30.28%. As the largest shareholder in OMI with 14.22% of the stake, BlackRock Fund Advisors holds 10,878,837 shares worth 10,878,837. A second-largest stockholder of OMI, Fidelity Management & Research Co, holds 9,590,259 shares, controlling over 12.53% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in OMI, holding 8,429,445 shares or 11.01% stake. With a 6.75% stake in OMI, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 5,165,317 shares are owned by the mutual fund manager. The Pacer Fds. Tr. – US Small Cap Cas, which owns about 5.32% of OMI stock, is the second-largest Mutual Fund holder. It holds 4,074,029 shares valued at 58.38 million. Fidelity Small Cap Value Fund holds 4.51% of the stake in OMI, owning 3,447,946 shares worth 49.41 million.
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 $22.00 and a low target of $16.00, the average target price over the next 12 months is $19.40. Based on these targets, OMI could surge 17.33% to reach the target high and fall by -14.67% to reach the target low. Reaching the average price target will result in a growth of 3.47% from current levels.
Summary of Insider Activity:
Insiders traded OMI stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 390 shares were sold. The number of buy transactions has increased to 33 while that of sell transactions has risen to 36 over the past year. The total number of shares bought during that period was 982,351 while 1,155,535 shares were sold.
