Public Sector Pension Investment Board Acquires 4,422 Shares of Owens & Minor, Inc. (NYSE:OMI)

Public Sector Pension Investment Board boosted its holdings in Owens & Minor, Inc. (NYSE:OMI) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,230 shares of the company’s stock after purchasing an additional 4,422 shares during the period. Public Sector Pension Investment Board owned about 0.21% of Owens & Minor worth $2,177,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OMI. Gabelli Funds LLC grew its holdings in shares of Owens & Minor by 2.9% in the 2nd quarter. Gabelli Funds LLC now owns 175,000 shares of the company’s stock valued at $2,362,000 after acquiring an additional 5,000 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Owens & Minor in the second quarter valued at approximately $82,000. Intech Investment Management LLC acquired a new position in shares of Owens & Minor during the 2nd quarter worth approximately $305,000. Hsbc Holdings PLC increased its position in shares of Owens & Minor by 10.1% during the 2nd quarter. Hsbc Holdings PLC now owns 20,639 shares of the company’s stock worth $278,000 after purchasing an additional 1,885 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Owens & Minor by 16.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,246,600 shares of the company’s stock worth $16,829,000 after purchasing an additional 176,250 shares in the last quarter. 98.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OMI. Barclays lowered their target price on shares of Owens & Minor from $23.00 to $18.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. StockNews.com downgraded shares of Owens & Minor from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Bank of America lowered their price target on Owens & Minor from $18.00 to $16.00 and set an “underperform” rating on the stock in a research report on Tuesday, June 25th. Robert W. Baird cut their price objective on Owens & Minor from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. decreased their target price on Owens & Minor from $22.00 to $18.00 and set an “underweight” rating on the stock in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.00.

Owens & Minor Stock Performance

NYSE:OMI opened at $16.18 on Monday. The stock has a 50 day simple moving average of $15.58 and a 200 day simple moving average of $18.46. The stock has a market cap of $1.24 billion, a P/E ratio of -31.73, a PEG ratio of 0.49 and a beta of 0.39. Owens & Minor, Inc. has a 1-year low of $12.36 and a 1-year high of $28.35. The company has a current ratio of 1.09, a quick ratio of 0.51 and a debt-to-equity ratio of 2.17.

Owens & Minor (NYSE:OMI) last announced its earnings results on Friday, August 2nd. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Owens & Minor had a negative net margin of 0.40% and a positive return on equity of 14.66%. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the business posted $0.18 earnings per share. Owens & Minor’s quarterly revenue was up 4.2% on a year-over-year basis. Research analysts anticipate that Owens & Minor, Inc. will post 1.57 earnings per share for the current year.

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.