Owens & Minor, Inc. (NYSE:OMI) Major Shareholder Coliseum Capital Management, L Purchases 1,738,511 Shares

Owens & Minor, Inc. (NYSE:OMI) major shareholder Coliseum Capital Management, L bought 1,738,511 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price 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 of the company’s stock, valued at $88,920,464.22. The trade was a 22.49 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% 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 stock was purchased at an average price of $9.19 per share, with a total value of $3,261,540.19.

Owens & Minor Stock Performance

NYSE OMI opened at $9.73 on Thursday. The stock has a market cap of $751.23 million, a PE ratio of -14.96, a P/E/G ratio of 0.20 and a beta of 0.61. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.45 and a current ratio of 1.09. The firm has a 50-day moving average of $11.32 and a 200-day moving average of $13.11. Owens & Minor, Inc. has a 52-week low of $6.07 and a 52-week high of $28.35.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period last year, the business posted $0.69 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Owens & Minor announced that its board has initiated a stock buyback plan on Friday, February 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 13.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Owens & Minor by 29.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 219,761 shares of the company’s stock valued at $2,872,000 after acquiring an additional 50,184 shares during the period. Voloridge Investment Management LLC raised its stake in Owens & Minor by 24.2% in the 4th quarter. Voloridge Investment Management LLC now owns 243,525 shares of the company’s stock worth $3,183,000 after purchasing an additional 47,459 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Owens & Minor in the 4th quarter valued at about $381,000. State of Wyoming grew its position in shares of Owens & Minor by 35.3% during the 4th quarter. State of Wyoming now owns 23,198 shares of the company’s stock worth $303,000 after purchasing an additional 6,050 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Owens & Minor by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 22,702 shares of the company’s stock worth $297,000 after purchasing an additional 6,996 shares during the period. 98.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on OMI shares. Robert W. Baird upped their target price on shares of Owens & Minor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday. UBS Group dropped their price objective on Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.08.

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.