Stock Alert: Owens & Minor Surges 54%

(RTTNews) - Shares of Owens & Minor Inc. (OMI) spiked more than 54 percent on Monday morning at $8.51.

Owens & Minor CEO Edward Pesicka told CNBC's Jim Cramer on Friday that the hospital supplier is expanding factory production of face masks, surgical gowns and other personal protective equipment due to the coronavirus pandemic. In addition, the Virginia-based company has started four daily shifts and plans to add a fifth shift.

"We are in the process of actually expanding capacity, but that's going to take probably 5 to 6 months to make sure that you have the capability to expand that capacity," Pesicka said in a "Mad Money" interview.

The shares have traded in a range of $2.43 to $8.75 in the past 52 weeks.