Insider Buying: Owens & Minor, Inc. (NYSE:OMI) Major Shareholder Purchases 1,738,511 Shares of Stock

Owens & Minor, Inc. (NYSE:OMI) major shareholder Coliseum Capital Management, L bought 1,738,511 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average price of $9.39 per share, with a total value of $16,324,618.29. Following the completion of the purchase, the insider now owns 9,469,698 shares of the company’s stock, valued at $88,920,464.22. This represents a 22.49 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more 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 Monday, March 3rd, Coliseum Capital Management, L purchased 354,901 shares of Owens & Minor stock. The shares were bought at an average price of $9.19 per share, for a total transaction of $3,261,540.19.

Owens & Minor Stock Up 2.4 %

Shares of NYSE OMI opened at $9.98 on Friday. Owens & Minor, Inc. has a 1 year low of $6.07 and a 1 year high of $28.35. The firm’s 50-day moving average is $11.32 and its 200-day moving average is $13.11. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11. The firm has a market capitalization of $770.54 million, a PE ratio of -15.35, a price-to-earnings-growth ratio of 0.20 and a beta of 0.61.

Owens & Minor (NYSE:OMI) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $2.68 billion. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the firm earned $0.69 earnings per share. Equities analysts expect that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Owens & Minor announced that its Board of Directors has approved a share repurchase program on Friday, February 28th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 13.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

OMI has been the subject of a number of research analyst reports. Robert W. Baird boosted their target price on shares of Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday. UBS Group dropped their price objective on shares of 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 equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Owens & Minor currently has a consensus rating of “Hold” and a consensus price target of $15.08.

Institutional Investors Weigh In On Owens & Minor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OMI. Sterling Capital Management LLC boosted its holdings in Owens & Minor by 758.3% during the fourth 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. raised its position in shares of Owens & Minor by 57.4% in the 4th 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 period. KBC Group NV boosted its stake in Owens & Minor by 98.2% during the 4th quarter. KBC Group NV now owns 4,434 shares of the company’s stock worth $58,000 after acquiring an additional 2,197 shares during the last quarter. Cetera Investment Advisers acquired a new position in Owens & Minor during the fourth quarter valued at approximately $140,000. Finally, Meeder Asset Management Inc. increased its stake in Owens & Minor by 844.1% in the third quarter. Meeder Asset Management Inc. now owns 9,016 shares of the company’s stock valued at $141,000 after purchasing an additional 8,061 shares in the last quarter. Institutional investors 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.