Coliseum Capital Management, L Purchases 225,000 Shares of Owens & Minor, Inc. (NYSE:OMI) Stock

Owens & Minor, Inc. (NYSE:OMI) major shareholder Coliseum Capital Management, L purchased 225,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 9th. The stock was bought at an average cost of $7.39 per share, for a total transaction of $1,662,750.00. Following the completion of the acquisition, the insider now directly owns 11,482,955 shares of the company’s stock, valued at $84,859,037.45. This represents a 2.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Coliseum Capital Management, L also recently made the following trade(s):

• On Monday, April 7th, Coliseum Capital Management, L bought 240,000 shares of Owens & Minor stock. The stock was bought at an average price of $7.84 per share, for a total transaction of $1,881,600.00.
• On Thursday, April 3rd, Coliseum Capital Management, L acquired 160,000 shares of Owens & Minor stock. The stock was purchased at an average cost of $8.53 per share, with a total value of $1,364,800.00.
• On Monday, March 3rd, Coliseum Capital Management, L bought 354,901 shares of Owens & Minor stock. The shares were purchased at an average cost of $9.19 per share, for a total transaction of $3,261,540.19.
• On Friday, February 28th, Coliseum Capital Management, L purchased 1,738,511 shares of Owens & Minor stock. The shares were purchased at an average cost of $9.39 per share, for a total transaction of $16,324,618.29.

Owens & Minor Stock Down 5.8 %

OMI stock opened at $7.02 on Friday. 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 firm’s 50-day simple moving average is $8.49 and its 200 day simple moving average is $11.84. The stock has a market cap of $541.89 million, a PE ratio of -10.79, a price-to-earnings-growth ratio of 0.20 and a beta of 1.02. Owens & Minor, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $26.37.

Owens & Minor (NYSE:OMI) last released its quarterly earnings results on Friday, February 28th. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that Owens & Minor, Inc. will post 1.51 EPS for the current year.

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

Institutional Investors Weigh In On Owens & Minor

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC increased its stake in Owens & Minor by 758.3% during the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock valued at $27,000 after buying an additional 1,820 shares during the period. Versant Capital Management Inc increased its stake in shares of Owens & Minor by 537.6% during the first quarter. Versant Capital Management Inc now owns 3,201 shares of the company’s stock valued at $29,000 after acquiring an additional 2,699 shares during the period. Parallel Advisors LLC raised its holdings in Owens & Minor by 1,387.0% during the first quarter. Parallel Advisors LLC now owns 3,316 shares of the company’s stock worth $30,000 after purchasing an additional 3,093 shares in the last quarter. Blue Trust Inc. boosted its stake in Owens & Minor by 57.4% during the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock valued at $57,000 after purchasing an additional 1,600 shares in the last quarter. Finally, KBC Group NV increased 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 purchasing an additional 2,197 shares during the period. 98.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OMI has been the subject of several recent research reports. Robert W. Baird boosted their target price 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 dropped their price objective on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased their target price 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. Two research 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.75.

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.