Owens & Minor, Inc. (NYSE:OMI) Major Shareholder Buys $1,662,750.00 in Stock

Owens & Minor, Inc. (NYSE:OMI) major shareholder Coliseum Capital Management, L acquired 225,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 11,482,955 shares of the company’s stock, valued at approximately $84,859,037.45. This trade represents a 2.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 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 Monday, April 7th, Coliseum Capital Management, L purchased 240,000 shares of Owens & Minor stock. The stock was bought at an average cost 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 shares were purchased at an average price 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 price 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 stock was purchased at an average price of $9.39 per share, with a total value of $16,324,618.29.

Owens & Minor Price Performance

OMI stock opened at $6.90 on Friday. The company’s 50-day moving average price is $8.44 and its two-hundred day moving average price is $11.79. The firm has a market cap of $533.00 million, a P/E ratio of -10.62, a P/E/G ratio of 0.20 and a beta of 1.02. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. Owens & Minor, Inc. has a 12 month low of $6.07 and a 12 month high of $26.05.

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

Owens & Minor declared that its board has initiated a share buyback plan on Friday, February 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 13.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OMI. Coliseum Capital Management LLC boosted its stake in shares of Owens & Minor by 31.3% in the 4th quarter. Coliseum Capital Management LLC now owns 4,785,964 shares of the company’s stock valued at $62,553,000 after purchasing an additional 1,141,483 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in Owens & Minor in the fourth quarter valued at approximately $5,125,000. Charles Schwab Investment Management Inc. boosted its position in Owens & Minor by 13.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company’s stock valued at $30,127,000 after buying an additional 276,807 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Owens & Minor by 77.0% during the fourth quarter. Deutsche Bank AG now owns 495,111 shares of the company’s stock worth $6,471,000 after buying an additional 215,455 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Owens & Minor during the fourth quarter worth $2,465,000. Institutional investors and hedge funds own 98.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OMI. JPMorgan Chase & Co. reduced their target price on shares of Owens & Minor from $14.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, March 10th. Robert W. Baird increased their target price on shares of Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Finally, UBS Group dropped 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 report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.75.

About Owens & Minor

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.