Owens & Minor (OMI) has landed in the Bottom 100 Stocks to Buy list, ranking 98th due to a significant decline of 78% over the past year. The company is selling its Products & Healthcare Services segment to Platinum Equity to focus on home-based care and simplify its business model.

The company has seen its stock plummet from nearly $50 to under $3, with a market cap now under $250 million. Owens & Minor has struggled in recent years, leading to changes in leadership and a focus on restructuring its operations to enhance shareholder value.

Owens & Minor posted year-over-year revenue growth in 29 out of 34 years, with operating income up in 23 years. Despite challenges, the company has a long history dating back to 1882 and went public in 1988, showing resilience over the years.

Following its acquisition of Apria, Owens & Minor realigned into two segments, with Patient Direct outperforming the Products & Healthcare Services segment in terms of revenue and operating income. The company is now focusing exclusively on the Patient Direct business model for future growth.

Despite the positive shift, Owens & Minor still faces concerns over high debt levels and future financial flexibility. Fitch has placed the company’s ratings on Rating Watch Negative, indicating uncertainties around its credit rating and potential impacts on profitability.

Investors are advised to monitor Owens & Minor’s progress closely as it navigates through its restructuring and focuses on the Patient Direct business model. The company’s ability to secure new contracts and improve its financial position will be crucial for its long-term success and stock performance.

Read more at Yahoo Finance: Is Owens & Minor’s New Focus Enough to Lift Its Shares From the Bottom 100?