Owens & Minor, Inc. (NYSE:OMI) Major Shareholder Coliseum Capital Management, L Acquires 240,000 Shares

Owens & Minor, Inc. (NYSE:OMI) major shareholder Coliseum Capital Management, L purchased 240,000 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were acquired at an average cost of $7.84 per share, with a total value of $1,881,600.00. Following the purchase, the insider now directly owns 11,152,955 shares of the company’s stock, valued at approximately $87,439,167.20. The trade was a 2.20 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, April 3rd, Coliseum Capital Management, L bought 160,000 shares of Owens & Minor stock. The shares were bought at an average cost of $8.53 per share, with a total value of $1,364,800.00.
• On Monday, March 3rd, Coliseum Capital Management, L purchased 354,901 shares of Owens & Minor stock. The stock was bought 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 acquired 1,738,511 shares of Owens & Minor stock. The shares were bought at an average price of $9.39 per share, with a total value of $16,324,618.29.

Owens & Minor Stock Down 0.4 %

Owens & Minor stock opened at $8.13 on Tuesday. The company has a market capitalization of $627.63 million, a PE ratio of -12.50, a PEG ratio of 0.20 and a beta of 1.02. Owens & Minor, Inc. has a 12-month low of $6.07 and a 12-month high of $27.42. The firm’s fifty day moving average is $9.10 and its 200 day moving average is $12.06. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11.

Owens & Minor (NYSE:OMI) last released its quarterly earnings data on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The business’s revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts predict that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

Owens & Minor announced that its board has approved a stock buyback plan on Friday, February 28th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 13.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Owens & Minor

Institutional investors have recently modified their holdings of the company. Waldron Private Wealth LLC bought a new stake in Owens & Minor during the 4th quarter valued at $406,000. JPMorgan Chase & Co. grew its holdings 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 buying an additional 152,999 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of 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 buying an additional 103,871 shares during the last quarter. Advisors Preferred LLC increased its position in shares of Owens & Minor by 173.9% during the fourth quarter. Advisors Preferred LLC now owns 84,305 shares of the company’s stock worth $1,083,000 after acquiring an additional 53,529 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Owens & Minor by 2.6% in the 3rd quarter. State Street Corp now owns 3,064,547 shares of the company’s stock worth $48,083,000 after acquiring an additional 78,985 shares during the last quarter. 98.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.