Owens & Minor, Inc. (NYSE:OMI) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its stake in shares of Owens & Minor, Inc. (NYSE:OMI) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,078,100 shares of the company’s stock after selling 90,000 shares during the period. Renaissance Technologies LLC owned 1.40% of Owens & Minor worth $14,091,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. boosted its stake in Owens & Minor by 57.4% during the fourth quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock worth $57,000 after buying an additional 1,600 shares during the last quarter. KBC Group NV boosted its position in shares of Owens & Minor by 98.2% during the 4th quarter. KBC Group NV now owns 4,434 shares of the company’s stock valued at $58,000 after acquiring an additional 2,197 shares during the last quarter. Inspire Advisors LLC grew its holdings in shares of Owens & Minor by 11.2% in the fourth quarter. Inspire Advisors LLC now owns 15,350 shares of the company’s stock valued at $201,000 after purchasing an additional 1,548 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Owens & Minor during the fourth quarter worth about $256,000. Finally, Wealthfront Advisers LLC purchased a new position in Owens & Minor during the fourth quarter worth about $257,000. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Owens & Minor

In related news, major shareholder Coliseum Capital Management, L bought 354,901 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $9.19 per share, for a total transaction of $3,261,540.19. Following the completion of the acquisition, the insider now owns 9,824,599 shares in the company, valued at approximately $90,288,064.81. This trade represents a 3.75 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders acquired 2,718,412 shares of company stock worth $24,495,308. Corporate insiders own 3.59% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on OMI shares. Robert W. Baird increased their price target on shares of Owens & Minor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. UBS Group cut 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. Finally, JPMorgan Chase & Co. decreased their price target on Owens & Minor from $14.00 to $10.00 and set an “underweight” rating on the stock in a research note on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $13.75.

Owens & Minor Stock Up 0.4 %

NYSE:OMI opened at $6.93 on Tuesday. Owens & Minor, Inc. has a 52 week low of $6.07 and a 52 week high of $25.85. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The stock’s fifty day moving average is $8.40 and its two-hundred day moving average is $11.70. The stock has a market capitalization of $535.38 million, a price-to-earnings ratio of -10.66, a price-to-earnings-growth ratio of 0.20 and a beta of 1.02.

Owens & Minor (NYSE:OMI) last posted its 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. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.68 billion. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. Owens & Minor’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. Research analysts anticipate that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Owens & Minor declared that its Board of Directors has initiated a stock repurchase plan on Friday, February 28th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 13.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

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.