Dana Investment Advisors Inc. Lowers Holdings in Owens & Minor, Inc. (NYSE:OMI)

Dana Investment Advisors Inc. trimmed its holdings in Owens & Minor, Inc. (NYSE:OMI) by 5.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 534,420 shares of the company’s stock after selling 30,761 shares during the period. Dana Investment Advisors Inc.’s holdings in Owens & Minor were worth $6,985,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in OMI. Foundry Partners LLC purchased a new position in Owens & Minor in the third quarter worth approximately $5,238,000. Charles Schwab Investment Management Inc. grew 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 worth $30,127,000 after acquiring an additional 276,807 shares during the period. Algert Global LLC grew its position in Owens & Minor by 189.4% in the third quarter. Algert Global LLC now owns 276,438 shares of the company’s stock worth $4,337,000 after acquiring an additional 180,922 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Owens & Minor by 374.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 223,074 shares of the company’s stock worth $3,500,000 after acquiring an additional 176,029 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Owens & Minor by 68.4% in the third quarter. JPMorgan Chase & Co. now owns 376,830 shares of the company’s stock worth $5,912,000 after acquiring an additional 152,999 shares during the period. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Owens & Minor

In related news, major shareholder Coliseum Capital Management, L bought 1,738,511 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $9.39 per share, for a total transaction of $16,324,618.29. Following the completion of the acquisition, the insider now owns 9,469,698 shares in the company, valued at approximately $88,920,464.22. This trade represents a 22.49 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.59% of the stock is currently owned by company insiders.

Owens & Minor Trading Up 0.2 %

OMI opened at $9.73 on Thursday. Owens & Minor, Inc. has a 52 week low of $6.07 and a 52 week high of $28.35. The business has a fifty day simple moving average of $11.32 and a 200-day simple moving average of $13.11. The firm has a market cap of $751.23 million, a P/E ratio of -14.96, a P/E/G ratio of 0.20 and a beta of 0.61. 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 (NYSE:OMI) last released its earnings results on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.68 billion. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. Owens & Minor’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $0.69 earnings per share. On average, equities analysts expect that Owens & Minor, Inc. will post 1.51 earnings per share for the current year.

Owens & Minor announced that its board has authorized 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 purchase up to 13.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on OMI shares. Robert W. Baird raised their price target on Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday. UBS Group lowered 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. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.08.

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.