PNC Financial Services Group Inc. Lowers Stock Holdings in Owens & Minor, Inc. (NYSE:OMI)

PNC Financial Services Group Inc. cut its stake in shares of Owens & Minor, Inc. (NYSE:OMI) by 20.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,289 shares of the company’s stock after selling 1,609 shares during the period. PNC Financial Services Group Inc.’s holdings in Owens & Minor were worth $121,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Owens & Minor during the fourth quarter worth approximately $852,000. First Eagle Investment Management LLC increased its stake in shares of Owens & Minor by 39.7% during the fourth quarter. First Eagle Investment Management LLC now owns 241,534 shares of the company’s stock worth $4,654,000 after acquiring an additional 68,596 shares during the period. Norges Bank purchased a new position in Owens & Minor during the fourth quarter worth about $9,160,000. Dimensional Fund Advisors LP raised its stake in shares of Owens & Minor by 8.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,210,991 shares of the company’s stock worth $81,148,000 after buying an additional 327,002 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its stake in shares of Owens & Minor by 106.4% in the third quarter. Gotham Asset Management LLC now owns 33,578 shares of the company’s stock valued at $543,000 after buying an additional 17,310 shares in the last quarter. 98.04% of the stock is owned by institutional investors and hedge funds.

Owens & Minor Stock Down 1.0 %

OMI opened at $13.11 on Friday. The business’s fifty day simple moving average is $17.79 and its 200 day simple moving average is $20.97. Owens & Minor, Inc. has a 52 week low of $12.86 and a 52 week high of $28.35. The firm has a market cap of $1.00 billion, a P/E ratio of -25.71, a PEG ratio of 0.43 and a beta of 0.25. The company has a quick ratio of 0.56, a current ratio of 1.16 and a debt-to-equity ratio of 2.17.

Owens & Minor (NYSE:OMI) last released its quarterly earnings results on Friday, May 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Owens & Minor had a negative net margin of 0.37% and a positive return on equity of 12.97%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $0.05 EPS. As a group, equities research analysts anticipate that Owens & Minor, Inc. will post 1.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on OMI shares. Bank of America reduced their target price on Owens & Minor from $18.00 to $16.00 and set an “underperform” rating for the company in a report on Tuesday, June 25th. Robert W. Baird lowered their price target on Owens & Minor from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Tuesday, June 25th. StockNews.com downgraded Owens & Minor from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, Citigroup boosted their target price on Owens & Minor from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Owens & Minor currently has a consensus rating of “Hold” and an average price target of $21.88.

Insiders Place Their Bets

In other news, SVP Jonathan A. Leon sold 5,000 shares of Owens & Minor stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $24.84, for a total value of $124,200.00. Following the completion of the sale, the senior vice president now owns 84,673 shares of the company’s stock, valued at $2,103,277.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Alexander J. Bruni sold 10,568 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $17.76, for a total transaction of $187,687.68. Following the completion of the transaction, the chief financial officer now owns 49,950 shares of the company’s stock, valued at $887,112. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jonathan A. Leon sold 5,000 shares of Owens & Minor stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $24.84, for a total transaction of $124,200.00. Following the completion of the transaction, the senior vice president now owns 84,673 shares in the company, valued at approximately $2,103,277.32. The disclosure for this sale can be found here. Insiders have sold a total of 36,923 shares of company stock valued at $686,911 in the last quarter. 2.62% of the stock is currently owned by company insiders.

About Owens & Minor

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.