Owens & Minor Inc (OMI)
Owens & Minor, Inc. is a healthcare solutions company in the United States and internationally. The company is headquartered in Richmond, Virginia.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is decreasing.
- The decline rate of the primary trend is 31.77% per annum.
- OMI price at the close of May 17, 2024 was $18.62 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 51.67% per annum.
- OMI price at the close of May 17, 2024 was lower than the bottom border of the secondary price channel by $0.11 (0.61%). This indicates a possible reversal in the secondary trend direction.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of OMI price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: February 24, 2021
End date: February 8, 2024
a = 4.5302
b = -0.0010
s = 0.2101
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0010) – 1
= -31.77%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.2101) – 1
= 131.74%
February 24, 2021 calculations
Top border of price channel:
Exp(Y445)
= Exp(a + b × X445 + 2 × s)
= Exp(a + b × 646 + 2 × s)
= Exp(4.5302 + -0.0010 × 646 + 2 × 0.2101)
= Exp(4.2738)
= $71.79
Bottom border of price channel:
Exp(Y445)
= Exp(a + b × X445 – 2 × s)
= Exp(a + b × 646 – 2 × s)
= Exp(4.5302 + -0.0010 × 646 – 2 × 0.2101)
= Exp(3.4333)
= $30.98
February 8, 2024 calculations
Top border of price channel:
Exp(Y1,189)
= Exp(a + b × X1,189 + 2 × s)
= Exp(a + b × 1,725 + 2 × s)
= Exp(4.5302 + -0.0010 × 1,725 + 2 × 0.2101)
= Exp(3.1436)
= $23.19
Bottom border of price channel:
Exp(Y1,189)
= Exp(a + b × X1,189 – 2 × s)
= Exp(a + b × 1,725 – 2 × s)
= Exp(4.5302 + -0.0010 × 1,725 – 2 × 0.2101)
= Exp(2.3031)
= $10.01
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 31.77% per annum.
- OMI price at the close of May 17, 2024 was $18.62 and was inside the primary price channel.
Secondary Trend
Start date: February 28, 2023
End date: May 2, 2024
a = 1.1104
b = 0.0011
s = 0.1308
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0011) – 1
= 51.67%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1308) – 1
= 68.72%
February 28, 2023 calculations
Top border of price channel:
Exp(Y951)
= Exp(a + b × X951 + 2 × s)
= Exp(a + b × 1,380 + 2 × s)
= Exp(1.1104 + 0.0011 × 1,380 + 2 × 0.1308)
= Exp(2.9468)
= $19.04
Bottom border of price channel:
Exp(Y951)
= Exp(a + b × X951 – 2 × s)
= Exp(a + b × 1,380 – 2 × s)
= Exp(1.1104 + 0.0011 × 1,380 – 2 × 0.1308)
= Exp(2.4237)
= $11.29
May 2, 2024 calculations
Top border of price channel:
Exp(Y1,247)
= Exp(a + b × X1,247 + 2 × s)
= Exp(a + b × 1,809 + 2 × s)
= Exp(1.1104 + 0.0011 × 1,809 + 2 × 0.1308)
= Exp(3.4363)
= $31.07
Bottom border of price channel:
Exp(Y1,247)
= Exp(a + b × X1,247 – 2 × s)
= Exp(a + b × 1,809 – 2 × s)
= Exp(1.1104 + 0.0011 × 1,809 – 2 × 0.1308)
= Exp(2.9133)
= $18.42
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 51.67% per annum.
- OMI price at the close of May 17, 2024 was lower than the bottom border of the secondary price channel by $0.11 (0.61%). This indicates a possible reversal in the secondary trend direction.