188,618 Shares in Owens & Minor, Inc. (NYSE:OMI) Bought by Norges Bank

Norges Bank acquired a new stake in shares of Owens & Minor, Inc. (NYSE:OMI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 188,618 shares of the company’s stock, valued at approximately $2,465,000. Norges Bank owned 0.24% of Owens & Minor at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Owens & Minor by 29.6% in the 4th quarter. JPMorgan Chase & Co. now owns 488,497 shares of the company’s stock worth $6,385,000 after acquiring an additional 111,667 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Owens & Minor by 9.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 306,278 shares of the company’s stock worth $4,003,000 after purchasing an additional 27,295 shares in the last quarter. Vanguard Group Inc. lifted its position in Owens & Minor by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,915,756 shares of the company’s stock valued at $116,529,000 after buying an additional 107,092 shares during the period. LPL Financial LLC bought a new stake in shares of Owens & Minor during the 4th quarter valued at $617,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Owens & Minor in the 4th quarter worth about $256,000. 98.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on OMI. UBS Group decreased their target price 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. Robert W. Baird boosted their target price on Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Owens & Minor from $14.00 to $10.00 and set an “underweight” rating on the stock in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Owens & Minor has a consensus rating of “Hold” and an average price target of $13.75.

Owens & Minor Stock Performance

OMI opened at $6.90 on Friday. The company’s 50 day moving average is $8.44 and its 200 day moving average is $11.79. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11. The company has a market cap of $533.00 million, a price-to-earnings ratio of -10.62, a PEG ratio of 0.20 and a beta of 1.02. Owens & Minor, Inc. has a 12-month low of $6.07 and a 12-month high of $26.05.

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

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

Insiders Place Their Bets

In other news, major shareholder Coliseum Capital Management, L purchased 354,901 shares of the stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $9.19 per share, with a total value of $3,261,540.19. Following the completion of the acquisition, the insider now directly owns 9,824,599 shares of the company’s stock, valued at $90,288,064.81. This trade represents a 3.75 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders purchased a total of 2,718,412 shares of company stock worth $24,495,308 over the last quarter. 2.62% of the stock is currently owned by corporate insiders.

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.