Insider Buying: Owens & Minor, Inc. (NYSE:OMI) Major Shareholder Purchases 354,901 Shares of Stock

Owens & Minor, Inc. (NYSE:OMI) major shareholder Coliseum Capital Management, L bought 354,901 shares of the stock in a transaction that occurred 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 purchase, the insider now directly owns 9,824,599 shares of the company’s stock, valued at $90,288,064.81. The trade was a 3.75 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases 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 shares were purchased at an average cost of $9.39 per share, with a total value of $16,324,618.29.

Owens & Minor Stock Up 4.7 %

Shares of NYSE OMI traded up $0.44 during mid-day trading on Tuesday, reaching $9.76. 4,173,384 shares of the company’s stock traded hands, compared to its average volume of 1,716,829. The stock has a market cap of $752.66 million, a P/E ratio of -15.02, a PEG ratio of 0.20 and a beta of 0.48. The business has a 50-day simple moving average of $11.38 and a 200 day simple moving average of $13.14. Owens & Minor, Inc. has a 1-year low of $6.07 and a 1-year high of $28.35. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The business’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the company earned $0.69 earnings per share. On average, analysts expect that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

Owens & Minor declared that its board has authorized a stock repurchase program on Friday, February 28th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 13.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its holdings in Owens & Minor by 758.3% during the fourth quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock worth $27,000 after purchasing an additional 1,820 shares during the last quarter. Blue Trust Inc. boosted its holdings 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 purchasing an additional 1,600 shares during the last quarter. KBC Group NV boosted its holdings in Owens & Minor by 98.2% during 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. Meeder Asset Management Inc. boosted its holdings in Owens & Minor by 844.1% during the third quarter. Meeder Asset Management Inc. now owns 9,016 shares of the company’s stock worth $141,000 after purchasing an additional 8,061 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in Owens & Minor during the fourth quarter worth about $140,000. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on OMI shares. Barclays lowered their target price on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. UBS Group decreased their price target on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Citigroup decreased their price target on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Robert W. Baird lifted 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.08.

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.