Insider Buying: Owens & Minor, Inc. (NYSE:OMI) Major Shareholder Acquires 240,000 Shares of Stock

Owens & Minor, Inc. (NYSE:OMI) major shareholder Coliseum Capital Management, L acquired 240,000 shares of the company’s stock in a transaction on Monday, April 7th. The shares were bought at an average price of $7.84 per share, for a total transaction of $1,881,600.00. Following the completion of the purchase, the insider now owns 11,152,955 shares in the company, valued at approximately $87,439,167.20. This represents a 2.20 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 Thursday, April 3rd, Coliseum Capital Management, L bought 160,000 shares of Owens & Minor stock. The stock was purchased at an average price 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 shares were 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 bought 1,738,511 shares of Owens & Minor stock. The shares were purchased at an average cost of $9.39 per share, for a total transaction of $16,324,618.29.

Owens & Minor Stock Performance

Shares of OMI opened at $8.13 on Tuesday. 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 firm has a market cap 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 1 year low of $6.07 and a 1 year high of $27.42. The stock’s fifty day moving average price is $9.10 and its two-hundred day moving average price is $12.06.

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

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

Institutional Investors Weigh In On Owens & Minor

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC grew its position in shares of Owens & Minor by 758.3% in the fourth quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock valued at $27,000 after purchasing an additional 1,820 shares in the last quarter. Versant Capital Management Inc grew its holdings in Owens & Minor by 537.6% during the 1st quarter. Versant Capital Management Inc now owns 3,201 shares of the company’s stock valued at $29,000 after buying an additional 2,699 shares in the last quarter. Blue Trust Inc. increased its position in shares of Owens & Minor by 57.4% during the fourth quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock valued at $57,000 after buying an additional 1,600 shares during the period. KBC Group NV lifted its holdings in shares of Owens & Minor by 98.2% in the fourth quarter. KBC Group NV now owns 4,434 shares of the company’s stock worth $58,000 after buying an additional 2,197 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of Owens & Minor in the fourth quarter valued at approximately $140,000. Institutional investors own 98.04% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on OMI. UBS Group reduced their target price on Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Robert W. Baird raised their target price on Owens & Minor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Owens & Minor from $14.00 to $10.00 and set an “underweight” rating on the stock in a report 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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.