Zacks Investment Research upgraded shares of Owens & Minor (NYSE:OMI) from a hold rating to a buy rating in a research report released on Friday, Zacks.com reports. The brokerage currently has $3.25 price objective on the stock.

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 issued reports on OMI. Bank of America set a $25.00 price objective on shares of Bed Bath & Beyond and gave the stock a buy rating in a research report on Wednesday, April 10th. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $6.13.

Shares of OMI stock opened at $2.64 on Friday. Owens & Minor has a 52-week low of $2.57 and a 52-week high of $19.16. The company has a quick ratio of 0.89, a current ratio of 1.75 and a debt-to-equity ratio of 3.67. The stock has a 50-day moving average price of $2.99. The company has a market cap of $166.15 million, a P/E ratio of 2.30, a price-to-earnings-growth ratio of 1.05 and a beta of 1.74.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). Owens & Minor had a positive return on equity of 6.92% and a negative net margin of 4.63%. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts predict that Owens & Minor will post 0.6 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.0025 dividend. This represents a $0.01 annualized dividend and a yield of 0.38%. The ex-dividend date was Thursday, June 13th. Owens & Minor’s dividend payout ratio (DPR) is presently 0.87%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Owens & Minor by 2.9% in the 4th quarter. BlackRock Inc. now owns 9,208,801 shares of the company’s stock worth $58,293,000 after buying an additional 263,267 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Owens & Minor by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,997,973 shares of the company’s stock worth $31,637,000 after buying an additional 19,174 shares during the period. Royce & Associates LP boosted its holdings in Owens & Minor by 16.3% in the 1st quarter. Royce & Associates LP now owns 1,355,786 shares of the company’s stock worth $5,559,000 after buying an additional 190,000 shares during the period. Norges Bank bought a new position in Owens & Minor in the 4th quarter worth approximately $6,208,000. Finally, Northern Trust Corp boosted its holdings in Owens & Minor by 0.9% in the 4th quarter. Northern Trust Corp now owns 811,604 shares of the company’s stock worth $5,138,000 after buying an additional 7,069 shares during the period. 90.00% of the stock is owned by institutional investors.

About Owens & Minor

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company in the United States and internationally. It operates through two segments, Global Solutions and Global Products. The Global Solutions segment offers a portfolio of products and services to healthcare providers and manufacturers.

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