Royce & Associates LP Boosts Stock Position in Owens & Minor, Inc. (NYSE:OMI)

Royce & Associates LP lifted its position in shares of Owens & Minor, Inc. (NYSE:OMI) by 11.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 89,922 shares of the company’s stock after purchasing an additional 9,008 shares during the quarter. Royce & Associates LP’s holdings in Owens & Minor were worth $1,175,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Inspire Advisors LLC raised its stake in shares of Owens & Minor by 11.2% during the fourth quarter. Inspire Advisors LLC now owns 15,350 shares of the company’s stock worth $201,000 after acquiring an additional 1,548 shares in the last quarter. Blue Trust Inc. raised its position in Owens & Minor by 57.4% in the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock worth $57,000 after purchasing an additional 1,600 shares during the period. KBC Group NV lifted its stake in 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 purchasing an additional 2,197 shares during the last quarter. Segall Bryant & Hamill LLC boosted its position in Owens & Minor by 2.1% during the third quarter. Segall Bryant & Hamill LLC now owns 137,199 shares of the company’s stock valued at $2,153,000 after buying an additional 2,883 shares during the period. Finally, Linden Thomas Advisory Services LLC grew its stake in shares of Owens & Minor by 16.3% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 26,302 shares of the company’s stock valued at $344,000 after buying an additional 3,688 shares during the last quarter. Institutional investors own 98.04% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Coliseum Capital Management, L acquired 1,738,511 shares of the stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $9.39 per share, with a total value of $16,324,618.29. Following the completion of the transaction, the insider now owns 9,469,698 shares of the company’s stock, valued at $88,920,464.22. This represents a 22.49 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.59% of the company’s stock.

Owens & Minor Price Performance

Shares of Owens & Minor stock opened at $9.53 on Friday. The company has a market cap of $735.78 million, a PE ratio of -14.65, a P/E/G ratio of 0.20 and a beta of 0.61. The business has a 50 day moving average of $10.52 and a 200 day moving average of $12.66. Owens & Minor, Inc. has a 52 week low of $6.07 and a 52 week high of $28.35. 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 posted its earnings results on Friday, February 28th. The company reported $0.55 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same period last year, the company posted $0.69 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that Owens & Minor, Inc. will post 1.51 earnings per share for the current year.

Owens & Minor declared that its Board of Directors has initiated a share repurchase plan on Friday, February 28th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 13.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

Owens & Minor 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.