Price T Rowe Associates Inc. MD Buys 2,986 Shares of Owens & Minor, Inc. (NYSE:OMI)

Price T Rowe Associates Inc. MD boosted its stake in shares of Owens & Minor, Inc. (NYSE:OMI) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,216 shares of the company’s stock after purchasing an additional 2,986 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Owens & Minor were worth $748,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC boosted its stake in shares of Owens & Minor by 758.3% in the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock worth $27,000 after buying an additional 1,820 shares during the last quarter. Blue Trust Inc. increased its position in Owens & Minor by 57.4% during the fourth quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock valued at $57,000 after acquiring an additional 1,600 shares during the last quarter. KBC Group NV lifted its holdings in Owens & Minor by 98.2% in the fourth quarter. KBC Group NV now owns 4,434 shares of the company’s stock valued at $58,000 after acquiring an additional 2,197 shares during the period. Guggenheim Capital LLC purchased a new position in Owens & Minor in the fourth quarter worth about $166,000. Finally, Optimize Financial Inc bought a new stake in shares of Owens & Minor during the 4th quarter valued at about $184,000. Hedge funds and other institutional investors own 98.04% of the company’s stock.

Analyst Ratings Changes

OMI has been the topic of several recent research reports. Citigroup lowered their price objective on shares of Owens & Minor from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. UBS Group reduced their target price on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price target on shares of Owens & Minor from $14.00 to $10.00 and set an “underweight” rating on the stock in a research note on Monday, March 10th. Finally, Robert W. Baird boosted their price objective on shares of Owens & Minor from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Owens & Minor currently has an average rating of “Hold” and a consensus target price of $12.50.

Owens & Minor Trading Up 0.4%

Shares of NYSE:OMI opened at $7.02 on Monday. The stock has a 50 day moving average of $8.13 and a 200 day moving average of $10.77. The company has a market cap of $542.33 million, a PE ratio of -10.80, a price-to-earnings-growth ratio of 0.20 and a beta of 1.38. Owens & Minor, Inc. has a 12-month low of $6.07 and a 12-month high of $21.02. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings results on Saturday, May 10th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the company earned $0.19 earnings per share. As a group, equities research analysts expect that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Owens & Minor declared that its Board of Directors has approved a stock 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 purchase up to 13.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Owens & Minor

In other Owens & Minor news, major shareholder Coliseum Capital Management, L purchased 1,738,511 shares of the business’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $9.39 per share, for a total transaction of $16,324,618.29. Following the purchase, the insider now owns 9,469,698 shares of the company’s stock, valued at approximately $88,920,464.22. This represents a 22.49% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have bought 2,718,412 shares of company stock worth $24,495,308. 3.69% of the stock is 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.