Coliseum Capital Management, L Buys 225,000 Shares of Owens & Minor, Inc. (NYSE:OMI) Stock

Owens & Minor, Inc. (NYSE:OMI) major shareholder Coliseum Capital Management, L bought 225,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The stock was bought at an average price of $7.39 per share, with a total value of $1,662,750.00. Following the acquisition, the insider now directly owns 11,482,955 shares in the company, valued at $84,859,037.45. The trade was a 2.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 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, April 7th, Coliseum Capital Management, L acquired 240,000 shares of Owens & Minor stock. The stock was purchased at an average cost of $7.84 per share, with a total value of $1,881,600.00.
• On Thursday, April 3rd, Coliseum Capital Management, L bought 160,000 shares of Owens & Minor stock. The shares were purchased at an average cost of $8.53 per share, for a total transaction of $1,364,800.00.
• On Monday, March 3rd, Coliseum Capital Management, L bought 354,901 shares of Owens & Minor stock. The stock was purchased at an average cost of $9.19 per share, with a total value of $3,261,540.19.
• On Friday, February 28th, Coliseum Capital Management, L purchased 1,738,511 shares of Owens & Minor stock. The shares were acquired at an average cost of $9.39 per share, for a total transaction of $16,324,618.29.

Owens & Minor Trading Down 1.4 %

NYSE OMI opened at $6.90 on Friday. Owens & Minor, Inc. has a 52 week low of $6.07 and a 52 week high of $26.05. The firm has a 50 day moving average of $8.44 and a two-hundred day moving average of $11.79. The stock has a market capitalization of $533.00 million, a PE ratio of -10.62, a price-to-earnings-growth ratio of 0.20 and a beta of 1.02. 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 issued its earnings results on Friday, February 28th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm posted $0.69 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. As a group, research analysts expect that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

Owens & Minor announced that its board has authorized 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 purchase up to 13.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group cut their target price on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Robert W. Baird upped their price objective on Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on Owens & Minor from $14.00 to $10.00 and set an “underweight” rating on the stock in a research note on Monday, March 10th. 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.75.

Institutional Investors Weigh In On Owens & Minor

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in shares of Owens & Minor by 32.2% in the third quarter. BNP Paribas Financial Markets now owns 32,181 shares of the company’s stock worth $505,000 after acquiring an additional 7,830 shares during the last quarter. State Street Corp boosted its holdings in shares of Owens & Minor by 2.6% in the 3rd quarter. State Street Corp now owns 3,064,547 shares of the company’s stock valued at $48,083,000 after purchasing an additional 78,985 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Owens & Minor by 126.0% in the 3rd quarter. Jane Street Group LLC now owns 186,280 shares of the company’s stock worth $2,923,000 after purchasing an additional 103,871 shares during the period. Barclays PLC raised its holdings in Owens & Minor by 354.8% in the third quarter. Barclays PLC now owns 133,702 shares of the company’s stock valued at $2,099,000 after buying an additional 104,305 shares during the period. Finally, Vestcor Inc lifted its stake in shares of Owens & Minor by 624.2% during the third quarter. Vestcor Inc now owns 41,303 shares of the company’s stock worth $648,000 after purchasing an additional 35,600 shares in the last quarter. Institutional investors and hedge funds own 98.04% of the company’s stock.

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.