Integrated Quantitative Investments LLC Purchases New Stake in Owens & Minor, Inc. (NYSE:OMI)

Integrated Quantitative Investments LLC acquired a new position in Owens & Minor, Inc. (NYSE:OMI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 59,800 shares of the company’s stock, valued at approximately $782,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OMI. Waldron Private Wealth LLC bought a new stake in shares of Owens & Minor during the 4th quarter valued at $406,000. JPMorgan Chase & Co. boosted its stake in Owens & Minor by 68.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 376,830 shares of the company’s stock worth $5,912,000 after acquiring an additional 152,999 shares during the last quarter. Jane Street Group LLC grew its holdings in Owens & Minor by 126.0% during the third quarter. Jane Street Group LLC now owns 186,280 shares of the company’s stock valued at $2,923,000 after purchasing an additional 103,871 shares during the period. Advisors Preferred LLC grew its holdings in shares of Owens & Minor by 173.9% in the 4th quarter. Advisors Preferred LLC now owns 84,305 shares of the company’s stock valued at $1,083,000 after buying an additional 53,529 shares during the period. Finally, State Street Corp grew its stake in Owens & Minor by 2.6% in the third quarter. State Street Corp now owns 3,064,547 shares of the company’s stock valued at $48,083,000 after acquiring an additional 78,985 shares during the period. 98.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on OMI shares. Robert W. Baird upped their price target on shares of Owens & Minor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. UBS Group reduced their target price on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. dropped their price target on Owens & Minor from $14.00 to $10.00 and set an “underweight” rating on the stock in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.75.

Insider Buying and Selling at Owens & Minor

In other Owens & Minor news, major shareholder Coliseum Capital Management, L acquired 354,901 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $9.19 per share, with a total value of $3,261,540.19. Following the acquisition, the insider now directly owns 9,824,599 shares of the company’s stock, valued at approximately $90,288,064.81. This trade represents a 3.75 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.59% of the company’s stock.

Owens & Minor Price Performance

NYSE:OMI opened at $8.15 on Friday. The firm’s fifty day moving average price is $9.23 and its two-hundred day moving average price is $12.17. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. The company has a market cap of $629.18 million, a P/E ratio of -12.53, a P/E/G ratio of 0.20 and a beta of 1.02. Owens & Minor, Inc. has a one year low of $6.07 and a one year high of $27.42.

Owens & Minor (NYSE:OMI) last released its quarterly earnings results on Friday, February 28th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the prior year, the firm earned $0.69 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Equities analysts expect that Owens & Minor, Inc. will post 1.51 earnings per share for the current year.

Owens & Minor announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 28th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 13.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

About Owens & Minor

Owens & Minor, Inc is a healthcare solutions company, which engages in the product manufacturing and delivery, home health supply, and perioperative services to support care through the hospital and into the home. It operates through the Products and Healthcare Services, and Patient Direct segments.