Insider Buying: Owens & Minor, Inc. (NYSE:OMI) Major Shareholder Buys 240,000 Shares of Stock

Owens & Minor, Inc. (NYSE:OMI) major shareholder Coliseum Capital Management, L bought 240,000 shares of Owens & Minor stock in a transaction dated Monday, April 7th. The shares were acquired at an average cost of $7.84 per share, with a total value of $1,881,600.00. Following the completion of the purchase, the insider now owns 11,152,955 shares in the company, valued at approximately $87,439,167.20. This trade represents a 2.20 % 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. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, April 3rd, Coliseum Capital Management, L acquired 160,000 shares of Owens & Minor stock. The shares were bought 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 stock was bought 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 shares were bought at an average price of $9.39 per share, with a total value of $16,324,618.29.

Owens & Minor Price Performance

NYSE:OMI opened at $7.80 on Wednesday. Owens & Minor, Inc. has a one year low of $6.07 and a one year high of $27.24. The stock has a market cap of $602.53 million, a PE ratio of -12.00, a P/E/G ratio of 0.20 and a beta of 1.02. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.45 and a current ratio of 1.09. The stock has a 50 day moving average price of $8.81 and a 200 day moving average price of $11.98.

Owens & Minor (NYSE:OMI) last issued its earnings results on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period last year, the company earned $0.69 EPS. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts expect that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

Owens & Minor announced that its board has authorized a stock repurchase plan on Friday, February 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 13.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Robert W. Baird boosted their price objective on Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. UBS Group dropped their price target on Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their price objective 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 issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.75.

Institutional Trading of Owens & Minor

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Owens & Minor by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,915,756 shares of the company’s stock worth $116,529,000 after acquiring an additional 107,092 shares during the period. Coliseum Capital Management LLC grew its holdings in shares of Owens & Minor by 31.3% during the 4th quarter. Coliseum Capital Management LLC now owns 4,785,964 shares of the company’s stock worth $62,553,000 after purchasing an additional 1,141,483 shares during the period. State Street Corp increased its position in shares of Owens & Minor by 2.6% during the 3rd quarter. State Street Corp now owns 3,064,547 shares of the company’s stock worth $48,083,000 after purchasing an additional 78,985 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Owens & Minor by 13.6% in the 4th 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 during the period. Finally, Geode Capital Management LLC lifted its position in Owens & Minor by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,711,453 shares of the company’s stock valued at $26,858,000 after buying an additional 13,164 shares during the last quarter. Institutional investors and hedge funds own 98.04% of the company’s stock.

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.