Coliseum Capital Management, L Acquires 354,901 Shares of Owens & Minor, Inc. (NYSE:OMI) Stock

Owens & Minor, Inc. (NYSE:OMI) major shareholder Coliseum Capital Management, L acquired 354,901 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $9.19 per share, with a total value of $3,261,540.19. Following the completion of the acquisition, the insider now directly owns 9,824,599 shares in the company, valued at approximately $90,288,064.81. The trade was a 3.75 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, February 28th, Coliseum Capital Management, L bought 1,738,511 shares of Owens & Minor stock. The stock was acquired at an average cost of $9.39 per share, for a total transaction of $16,324,618.29.

Owens & Minor Stock Up 0.2 %

Shares of NYSE:OMI opened at $9.73 on Thursday. The company has a market capitalization of $751.23 million, a PE ratio of -14.96, a PEG ratio of 0.20 and a beta of 0.61. Owens & Minor, Inc. has a 52 week low of $6.07 and a 52 week high of $28.35. 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 company has a 50 day moving average price of $11.32 and a two-hundred day moving average price of $13.11.

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, topping the consensus estimate 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 company 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 earned $0.69 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Analysts forecast that Owens & Minor, Inc. will post 1.51 earnings per share for the current year.

Owens & Minor announced that its Board of Directors has approved a stock repurchase program on Friday, February 28th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 13.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. UBS Group cut their price objective on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Robert W. Baird increased their price target on Owens & Minor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.08.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Coliseum Capital Management LLC raised its holdings in shares of 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 acquiring an additional 1,141,483 shares during the period. Freestone Grove Partners LP bought a new position in Owens & Minor during the 4th quarter worth about $5,125,000. Foundry Partners LLC acquired a new stake in shares of Owens & Minor in the 3rd quarter valued at about $5,238,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Owens & Minor by 13.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company’s stock valued at $30,127,000 after purchasing an additional 276,807 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Owens & Minor by 77.0% during the fourth quarter. Deutsche Bank AG now owns 495,111 shares of the company’s stock worth $6,471,000 after buying an additional 215,455 shares during the period. Institutional investors own 98.04% of the company’s stock.

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.