Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Stock Holdings in Owens & Minor, Inc. $OMI

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Owens & Minor, Inc. (NYSE:OMI) by 12.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,485 shares of the company’s stock after purchasing an additional 4,817 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Owens & Minor were worth $387,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of OMI. Parallel Advisors LLC lifted its holdings in shares of Owens & Minor by 1,387.0% during the 1st quarter. Parallel Advisors LLC now owns 3,316 shares of the company’s stock worth $30,000 after acquiring an additional 3,093 shares during the period. Quarry LP purchased a new position in Owens & Minor during the first quarter worth approximately $34,000. Headlands Technologies LLC purchased a new position in Owens & Minor during the first quarter worth approximately $55,000. GAMMA Investing LLC raised its position in shares of Owens & Minor by 713.4% in the 1st quarter. GAMMA Investing LLC now owns 9,265 shares of the company’s stock worth $84,000 after buying an additional 8,126 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in shares of Owens & Minor by 25.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,660 shares of the company’s stock worth $88,000 after buying an additional 1,932 shares during the period. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OMI has been the topic of a number of research reports. UBS Group set a $7.00 price objective on Owens & Minor in a report on Wednesday, August 13th. Bank of America cut their price target on shares of Owens & Minor from $7.50 to $4.75 and set an “underperform” rating on the stock in a report on Tuesday, August 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Owens & Minor in a research note on Saturday, September 27th. Baird R W raised shares of Owens & Minor from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. Finally, JPMorgan Chase & Co. cut their price objective on Owens & Minor from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Owens & Minor has an average rating of “Hold” and a consensus target price of $7.63.

Insider Transactions at Owens & Minor

In related news, major shareholder Coliseum Capital Management, L purchased 492,852 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was acquired at an average price of $5.31 per share, for a total transaction of $2,617,044.12. Following the completion of the purchase, the insider owned 13,100,807 shares in the company, valued at approximately $69,565,285.17. This represents a 3.91% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders purchased 1,537,852 shares of company stock worth $8,099,544. 3.69% of the stock is owned by insiders.

Owens & Minor Stock Performance

Owens & Minor stock opened at $4.79 on Monday. Owens & Minor, Inc. has a 12-month low of $4.56 and a 12-month high of $15.54. The company has a market capitalization of $369.59 million, a price-to-earnings ratio of -0.31 and a beta of 1.26. The company has a debt-to-equity ratio of 3.32, a current ratio of 0.86 and a quick ratio of 0.83. The firm’s fifty day moving average price is $5.54 and its 200 day moving average price is $6.93.

Owens & Minor (NYSE:OMI) last announced its earnings results on Monday, August 11th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Owens & Minor had a positive return on equity of 26.59% and a negative net margin of 13.78%.The business had revenue of $681.90 million for the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. Owens & Minor has set its FY 2025 guidance at 1.020-1.070 EPS. On average, research analysts forecast that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

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.