Owens & Minor, Inc. (NYSE:OMI) Major Shareholder Purchases 160,000 Shares

Owens & Minor, Inc. (NYSE:OMI) major shareholder Coliseum Capital Management, L purchased 160,000 shares of Owens & Minor stock in a transaction dated Thursday, April 3rd. The stock was bought at an average cost of $8.53 per share, for a total transaction of $1,364,800.00. Following the completion of the purchase, the insider now directly owns 10,784,599 shares in the company, valued at approximately $91,992,629.47. This trade represents a 1.51 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Coliseum Capital Management, L also recently made the following trade(s):

• On Monday, April 7th, Coliseum Capital Management, L bought 240,000 shares of Owens & Minor stock. The stock was bought at an average price of $7.84 per share, with a total value of $1,881,600.00.
• On Monday, March 3rd, Coliseum Capital Management, L acquired 354,901 shares of Owens & Minor stock. The stock was purchased at an average price of $9.19 per share, for a total transaction of $3,261,540.19.
• On Friday, February 28th, Coliseum Capital Management, L purchased 1,738,511 shares of Owens & Minor stock. The shares were acquired at an average price of $9.39 per share, for a total transaction of $16,324,618.29.

Owens & Minor Stock Down 0.4 %

Shares of NYSE:OMI traded down $0.04 on Monday, hitting $8.13. 1,726,489 shares of the company’s stock were exchanged, compared to its average volume of 1,040,560. Owens & Minor, Inc. has a 1-year low of $6.07 and a 1-year high of $27.42. The company has a market capitalization of $627.63 million, a PE ratio of -12.50, a P/E/G ratio of 0.20 and a beta of 1.02. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.45 and a current ratio of 1.09. The firm’s 50-day moving average is $9.10 and its 200 day moving average is $12.06.

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

Owens & Minor declared that its board has approved a share buyback plan on Friday, February 28th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 13.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Owens & Minor

Several hedge funds and other institutional investors have recently bought and sold shares of OMI. Inspire Advisors LLC boosted its stake in Owens & Minor by 11.2% in the fourth quarter. Inspire Advisors LLC now owns 15,350 shares of the company’s stock valued at $201,000 after acquiring an additional 1,548 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Owens & Minor by 57.4% in the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock valued at $57,000 after purchasing an additional 1,600 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Owens & Minor by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,930 shares of the company’s stock valued at $561,000 after purchasing an additional 1,662 shares during the period. Sterling Capital Management LLC grew its stake in Owens & Minor by 758.3% during the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock worth $27,000 after buying an additional 1,820 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Owens & Minor by 0.9% during the 4th quarter. Legal & General Group Plc now owns 212,061 shares of the company’s stock worth $2,772,000 after buying an additional 1,991 shares during the last quarter. 98.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Owens & Minor Company Profile

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.