A company insider recently sold 38,780 shares of Owens & Minor Inc. [OMI]. Should You Sale?


Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Owens & Minor Inc. shares valued at $747,487 were sold by Pesicka Edward A on Jun 16. At $19.28 per share, Pesicka Edward A sold 38,780 shares. The insider’s holdings dropped to 708,373 shares worth approximately $11.68 million following the completion of this transaction.

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Also, Pesicka Edward A sold 38,780 shares, netting a total of over 746,097 in proceeds. Following the sale of shares at $19.24 each, the insider now holds 747,153 shares.

Before that, Pesicka Edward A had sold 118,928 shares from its account. In a trade valued at $2,472,941, the President & CEO traded Owens & Minor Inc. shares for $20.79 each. Upon closing the transaction, the insider’s holdings decreased to 118,928 shares, worth approximately $12.96 million.

As published in a research note from Citigroup on October 13, 2022, Owens & Minor Inc. [OMI] has been rated down from a Buy to a Neutral and the price target has been revised to $18 from $52. This represents a 8.39% premium over Thursday’s closing price.

Analyzing OMI Stock Performance

On Thursday, Owens & Minor Inc. [NYSE: OMI] rose 3.00% to $16.49. The stock’s lowest price that day was $15.91, but it reached a high of $16.74 in the same session. During the last five days, there has been a drop of approximately -4.57%. Over the course of the year, Owens & Minor Inc. shares have dropped approximately -15.57%. Shares of the company reached a 52-week high of $22.86 on 02/09/23 and a 52-week low of $11.79 on 03/24/23. A 50-day SMA is recorded $18.69, while a 200-day SMA reached $18.41. Nevertheless, trading volume fell to 0.59 million shares from 0.69 million shares the previous day.

Support And Resistance Levels for Owens & Minor Inc. (OMI)

According to the 24-hour chart, there is a support level at 16.02, which, if violated, would cause prices to drop to 15.55. In the upper region, resistance lies at 16.85. The next price resistance is at 17.21. RSI (Relative Strength Index) is 35.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.05, which suggests the price will decrease in the coming days. Percent R is at 84.17%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Owens & Minor Inc. subject to short interest?

Stocks of Owens & Minor Inc. saw a sharp rise in short interest on Jul 30, 2023 jumping by 1.12 million shares to 6.34 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 5.22 million shares. A jump of 17.67% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 12.73 of the overall float, the days-to-cover ratio (short ratio) jumped to 12.73.


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