Owens & Minor, Inc. (NYSE:OMI) is Coliseum Capital Management LLC’s 9th Largest Position

Coliseum Capital Management LLC raised its holdings in Owens & Minor, Inc. (NYSE:OMI) by 31.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,785,964 shares of the company’s stock after acquiring an additional 1,141,483 shares during the quarter. Owens & Minor accounts for about 5.2% of Coliseum Capital Management LLC’s holdings, making the stock its 9th biggest position. Coliseum Capital Management LLC owned about 6.21% of Owens & Minor worth $62,553,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in OMI. Barclays PLC raised its position in shares of Owens & Minor by 354.8% during the 3rd quarter. Barclays PLC now owns 133,702 shares of the company’s stock worth $2,099,000 after purchasing an additional 104,305 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Owens & Minor by 6.5% in the third quarter. Franklin Resources Inc. now owns 61,223 shares of the company’s stock valued at $961,000 after acquiring an additional 3,743 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Owens & Minor by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 376,830 shares of the company’s stock valued at $5,912,000 after acquiring an additional 152,999 shares during the last quarter. Nordea Investment Management AB increased its position in Owens & Minor by 5.9% during the 4th quarter. Nordea Investment Management AB now owns 174,368 shares of the company’s stock worth $2,269,000 after purchasing an additional 9,725 shares in the last quarter. Finally, Inspire Investing LLC raised its stake in Owens & Minor by 15.2% in the 4th quarter. Inspire Investing LLC now owns 33,526 shares of the company’s stock valued at $438,000 after purchasing an additional 4,421 shares during the last quarter. Hedge funds and other institutional investors own 98.04% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on OMI. UBS Group lowered their price objective on Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. cut their price objective on Owens & Minor from $14.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, March 10th. Robert W. Baird raised 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. Finally, Citigroup reduced their target price on Owens & Minor from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Two 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 MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.50.

Owens & Minor Stock Up 0.1 %

Shares of Owens & Minor stock opened at $7.72 on Thursday. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. Owens & Minor, Inc. has a 1-year low of $6.07 and a 1-year high of $21.02. The business’s fifty day moving average price is $8.23 and its two-hundred day moving average price is $10.90. The company has a market capitalization of $596.41 million, a P/E ratio of -11.88, a PEG ratio of 0.20 and a beta of 1.38.

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

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

Insider Buying and Selling

In related news, major shareholder Coliseum Capital Management, L purchased 1,738,511 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $9.39 per share, for a total transaction of $16,324,618.29. Following the completion of the acquisition, the insider now owns 9,469,698 shares in the company, valued at $88,920,464.22. This trade represents a 22.49 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have purchased 2,718,412 shares of company stock valued at $24,495,308. 3.69% of the stock is owned by corporate insiders.

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.