Jennison Associates LLC Invests $985,000 in Owens & Minor, Inc. (NYSE:OMI)

Jennison Associates LLC acquired a new stake in Owens & Minor, Inc. (NYSE:OMI) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 31,484 shares of the company’s stock, valued at approximately $985,000.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Owens & Minor by 26.4% during the 2nd quarter. Vanguard Group Inc. now owns 7,998,909 shares of the company’s stock valued at $338,594,000 after purchasing an additional 1,672,001 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in Owens & Minor during the third quarter valued at about $1,348,000. Ceredex Value Advisors LLC lifted its holdings in Owens & Minor by 141.0% during the third quarter. Ceredex Value Advisors LLC now owns 1,311,822 shares of the company’s stock valued at $41,047,000 after purchasing an additional 767,522 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Owens & Minor by 1,183.7% during the second quarter. The Manufacturers Life Insurance Company now owns 520,115 shares of the company’s stock valued at $22,016,000 after purchasing an additional 479,597 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Owens & Minor by 34.8% during the second quarter. Invesco Ltd. now owns 1,666,104 shares of the company’s stock valued at $70,526,000 after buying an additional 429,971 shares during the period. Institutional investors own 95.92% of the company’s stock.

Several research analysts recently weighed in on OMI shares. Zacks Investment Research upgraded shares of Owens & Minor from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Wednesday. Citigroup raised Owens & Minor from a “neutral” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Friday, December 17th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $47.00.

In related news, CEO Edward A. Pesicka sold 56,641 shares of the company’s stock in a transaction dated Wednesday, November 3rd. The stock was sold at an average price of $41.97, for a total transaction of $2,377,222.77. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Jeffrey T. Jochims sold 7,500 shares of the stock in a transaction dated Wednesday, December 15th. The shares were sold at an average price of $39.80, for a total value of $298,500.00. The disclosure for this sale can be found here. Insiders sold a total of 158,024 shares of company stock valued at $6,644,534 over the last quarter. Company insiders own 4.65% of the company’s stock.

OMI stock opened at $44.24 on Friday. Owens & Minor, Inc. has a twelve month low of $23.58 and a twelve month high of $49.16. The company has a quick ratio of 0.62, a current ratio of 1.68 and a debt-to-equity ratio of 1.08. The stock has a market cap of $3.34 billion, a P/E ratio of 14.04, a PEG ratio of 0.74 and a beta of 0.31. The business’s 50-day moving average price is $42.73 and its 200-day moving average price is $39.80.

Owens & Minor (NYSE:OMI) last released its quarterly earnings data on Wednesday, November 3rd. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.15. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.48 billion. Owens & Minor had a return on equity of 40.55% and a net margin of 2.38%. The company’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS. On average, equities research analysts expect that Owens & Minor, Inc. will post 3.99 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Wednesday, December 15th were given a $0.002 dividend. This represents a $0.01 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Tuesday, December 14th. Owens & Minor’s dividend payout ratio (DPR) is presently 0.32%.

Owens & Minor Profile

Owens & Minor, Inc engages in the provision of healthcare solutions. It operates through the Global Solutions and Global Products segments. The Global Solutions segment comprises of United States distribution, outsourced logistics, and value-added services business. The Global Products segment manufactures and sources medical surgical products through the production and kitting operations.

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Institutional Ownership by Quarter for Owens & Minor (NYSE:OMI)

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