Coliseum Capital Management, L Acquires 1,738,511 Shares of Owens & Minor, Inc. (NYSE:OMI) Stock

Owens & Minor, Inc. (NYSE:OMI) major shareholder Coliseum Capital Management, L purchased 1,738,511 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $9.39 per share, for a total transaction of $16,324,618.29. Following the completion of the transaction, the insider now directly owns 9,469,698 shares in the company, valued at $88,920,464.22. This trade represents a 22.49 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 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 Monday, March 3rd, Coliseum Capital Management, L bought 354,901 shares of Owens & Minor stock. The stock was purchased at an average cost of $9.19 per share, with a total value of $3,261,540.19.

Owens & Minor Trading Up 0.2 %

Shares of NYSE:OMI opened at $9.73 on Thursday. The firm has a market cap of $751.23 million, a price-to-earnings ratio of -14.96, a PEG ratio of 0.20 and a beta of 0.61. 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, Inc. has a 12 month low of $6.07 and a 12 month high of $28.35. The company’s fifty day simple moving average is $11.32 and its 200 day simple moving average is $13.11.

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

Owens & Minor declared that its board has authorized a share repurchase program 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 shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Robert W. Baird boosted 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. UBS Group decreased their target price 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 research 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 MarketBeat, Owens & Minor presently has an average rating of “Hold” and a consensus price target of $15.08.

Hedge Funds Weigh In On Owens & Minor

Several hedge funds have recently made changes to their positions in OMI. Coliseum Capital Management LLC boosted its holdings in Owens & Minor by 31.3% during the fourth quarter. Coliseum Capital Management LLC now owns 4,785,964 shares of the company’s stock worth $62,553,000 after purchasing an additional 1,141,483 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in Owens & Minor in the 4th quarter valued at $5,125,000. Foundry Partners LLC bought a new stake in Owens & Minor during the 3rd quarter worth about $5,238,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Owens & Minor by 13.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company’s stock worth $30,127,000 after buying an additional 276,807 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Owens & Minor by 77.0% in the 4th quarter. Deutsche Bank AG now owns 495,111 shares of the company’s stock valued at $6,471,000 after acquiring an additional 215,455 shares in the last quarter. 98.04% of the stock is owned by institutional investors.

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.