Hillsdale Investment Management Inc. Makes New $4.21 Million Investment in Owens & Minor, Inc. (NYSE:OMI)

Hillsdale Investment Management Inc. acquired a new position in shares of Owens & Minor, Inc. (NYSE:OMI) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 151,951 shares of the company’s stock, valued at approximately $4,211,000. Hillsdale Investment Management Inc. owned about 0.20% of Owens & Minor at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OMI. GAMMA Investing LLC increased its stake in shares of Owens & Minor by 52.1% in the 1st quarter. GAMMA Investing LLC now owns 1,644 shares of the company’s stock valued at $46,000 after acquiring an additional 563 shares during the last quarter. Quarry LP increased its stake in shares of Owens & Minor by 38.8% in the 4th quarter. Quarry LP now owns 2,573 shares of the company’s stock valued at $50,000 after acquiring an additional 719 shares during the last quarter. Riverview Trust Co bought a new stake in shares of Owens & Minor in the 1st quarter valued at about $25,000. ProShare Advisors LLC increased its stake in shares of Owens & Minor by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 15,021 shares of the company’s stock valued at $416,000 after acquiring an additional 1,029 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in shares of Owens & Minor by 1.8% in the 1st quarter. Texas Permanent School Fund Corp now owns 66,953 shares of the company’s stock valued at $1,855,000 after acquiring an additional 1,156 shares during the last quarter. 98.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on OMI shares. Citigroup raised Owens & Minor from a “neutral” rating to a “buy” rating and lowered their price target for the company from $24.00 to $19.00 in a research note on Friday. Bank of America decreased their price objective on Owens & Minor from $18.00 to $16.00 and set an “underperform” rating for the company in a research report on Tuesday, June 25th. Robert W. Baird decreased their price objective on Owens & Minor from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Finally, StockNews.com lowered Owens & Minor from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Owens & Minor presently has an average rating of “Hold” and a consensus target price of $20.63.

Insiders Place Their Bets

In other Owens & Minor news, EVP Heath H. Galloway sold 2,031 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $20.18, for a total transaction of $40,985.58. Following the transaction, the executive vice president now owns 56,898 shares in the company, valued at approximately $1,148,201.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Heath H. Galloway sold 2,031 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $20.18, for a total transaction of $40,985.58. Following the sale, the executive vice president now directly owns 56,898 shares of the company’s stock, valued at approximately $1,148,201.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Alexander J. Bruni sold 10,568 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $17.76, for a total value of $187,687.68. Following the sale, the chief financial officer now directly owns 49,950 shares in the company, valued at $887,112. The disclosure for this sale can be found here. Insiders have sold 31,923 shares of company stock worth $562,711 in the last 90 days. Company insiders own 3.59% of the company’s stock.

Owens & Minor Stock Up 3.4 %

Shares of NYSE OMI traded up $0.50 during trading hours on Monday, hitting $15.32. The company had a trading volume of 710,423 shares, compared to its average volume of 753,723. The stock has a market capitalization of $1.17 billion, a P/E ratio of -30.04, a price-to-earnings-growth ratio of 0.48 and a beta of 0.25. The company has a quick ratio of 0.56, a current ratio of 1.16 and a debt-to-equity ratio of 2.17. Owens & Minor, Inc. has a 1-year low of $12.36 and a 1-year high of $28.35. The firm’s 50 day moving average is $16.04 and its 200-day moving average is $20.49.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings results on Friday, May 3rd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. Owens & Minor had a positive return on equity of 12.97% and a negative net margin of 0.37%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the business earned $0.05 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts expect that Owens & Minor, Inc. will post 1.53 earnings per share for the current fiscal year.

Owens & Minor Company Profile

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.