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Shares of Owens & Minor Fall to a New 52-Week Low

By David Diaz

Shares of Owens & Minor (NYSE:OMI) traded today at $27.98, breaking its 52-week low. This new low was reached on below average trading volume as 84,000 shares traded hands, while the average 30-day volume is approximately 678,000 shares.

Owens & Minor, Inc. distributes medical and surgical supplies throughout the United States. The Company's customers include hospitals, integrated healthcare systems, and group purchasing organizations. Owens & Minor also provides services in supply chain management, logistics, and technology.

In the past 52 weeks, Owens & Minor share prices have been bracketed by a current low of $27.98 and a high of $38.28 and are now at $28.20. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.7%.

There is potential upside of 13.8% for shares of Owens & Minor based on a current price of $28.20 and an average consensus analyst price target of $32.08. The stock should find initial resistance at its 200-day moving average (MA) of $36.29 and further resistance at its 50-day MA of $39.19.

SmarTrend recommended that its subscribers protect gains by selling shares of Owens & Minor on March 22nd, 2017 by issuing a Downtrend alert when the shares were trading at $34.40. Since that call, shares of Owens & Minor have fallen 18.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows owens & minor

Ticker(s): OMI