Owens & Minor price target lowered to $17 from $21 at Leerink

Leerink analyst Michael Cherny lowered the firm’s price target on Owens & Minor to $17 from $21 and keeps a Market Perform rating on the shares. The departure of CFO Alex Bruni was surprising and creates numerous questions about the near-term trajectory for Owens & Minor, the analyst tells investors in a research note. Recent questions have emerged as well over the pace of shipping cost increases, both domestic and international, and the potential downward pressure that can create on profitability, the firm says.