Federated Hermes Inc. Reduces Stake in Owens & Minor, Inc. (NYSE:OMI)

Federated Hermes Inc. cut its holdings in shares of Owens & Minor, Inc. (NYSE:OMI) by 92.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,073 shares of the company’s stock after selling 154,918 shares during the quarter. Federated Hermes Inc.’s holdings in Owens & Minor were worth $176,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Owens & Minor by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 8,749,866 shares of the company’s stock worth $242,459,000 after purchasing an additional 162,182 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Owens & Minor by 4.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 825,142 shares of the company’s stock worth $15,900,000 after purchasing an additional 38,393 shares during the period. Bridgeway Capital Management LLC grew its holdings in shares of Owens & Minor by 11.8% during the 1st quarter. Bridgeway Capital Management LLC now owns 591,174 shares of the company’s stock worth $16,381,000 after purchasing an additional 62,509 shares during the period. Epoch Investment Partners Inc. grew its holdings in shares of Owens & Minor by 27.2% during the 1st quarter. Epoch Investment Partners Inc. now owns 530,434 shares of the company’s stock worth $14,698,000 after purchasing an additional 113,587 shares during the period. Finally, Kennedy Capital Management LLC grew its holdings in shares of Owens & Minor by 42.6% during the 1st quarter. Kennedy Capital Management LLC now owns 525,849 shares of the company’s stock worth $14,571,000 after purchasing an additional 157,038 shares during the period. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

Owens & Minor Price Performance

OMI stock opened at $14.51 on Wednesday. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.09 and a quick ratio of 0.51. The firm has a market capitalization of $1.11 billion, a P/E ratio of -28.45, a P/E/G ratio of 0.47 and a beta of 0.39. The business’s 50-day moving average is $15.53 and its two-hundred day moving average is $18.67. Owens & Minor, Inc. has a 1 year low of $12.36 and a 1 year high of $28.35.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on OMI shares. JPMorgan Chase & Co. lowered their price target on Owens & Minor from $22.00 to $18.00 and set an “underweight” rating for the company in a report on Wednesday, August 21st. Bank of America decreased their target price on Owens & Minor from $18.00 to $16.00 and set an “underperform” rating on the stock in a research note on Tuesday, June 25th. Barclays decreased their target price on Owens & Minor from $23.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Robert W. Baird decreased their target price on Owens & Minor from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Finally, Citigroup raised Owens & Minor from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $24.00 to $19.00 in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Owens & Minor currently has an average rating of “Hold” and a consensus price target of $20.00.

Owens & Minor Profile

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.