Owens & Minor, Inc. (NYSE:OMI) Stock Holdings Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in Owens & Minor, Inc. (NYSE:OMI) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 348,755 shares of the company’s stock after selling 13,443 shares during the quarter. Principal Financial Group Inc. owned approximately 0.45% of Owens & Minor worth $5,472,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP raised its position in Owens & Minor by 290.1% during the second quarter. Quarry LP now owns 2,099 shares of the company’s stock valued at $28,000 after buying an additional 1,561 shares during the period. Innealta Capital LLC acquired a new position in Owens & Minor in the 2nd quarter valued at approximately $43,000. DekaBank Deutsche Girozentrale lifted its position in Owens & Minor by 76.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company’s stock worth $43,000 after buying an additional 1,356 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Owens & Minor by 176.8% during the 3rd quarter. Blue Trust Inc. now owns 2,787 shares of the company’s stock valued at $44,000 after buying an additional 1,780 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Owens & Minor by 100.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,071 shares of the company’s stock valued at $82,000 after buying an additional 3,044 shares during the period. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on OMI shares. UBS Group cut their price objective on Owens & Minor from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Citigroup dropped their price objective on Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their target price on shares of Owens & Minor from $22.00 to $18.00 and set an “underweight” rating for the company in a research report on Wednesday, August 21st. Robert W. Baird cut their price target on shares of Owens & Minor from $19.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Finally, Barclays decreased their price objective on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $18.50.

Owens & Minor Trading Down 4.2 %

Owens & Minor stock opened at $11.89 on Thursday. The business’s 50-day simple moving average is $13.86 and its 200-day simple moving average is $15.28. Owens & Minor, Inc. has a 52 week low of $11.42 and a 52 week high of $28.35. The firm has a market capitalization of $916.84 million, a PE ratio of -18.29, a PEG ratio of 0.42 and a beta of 0.41. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.45 and a current ratio of 1.09.

Owens & Minor (NYSE:OMI) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter last year, the company posted $0.44 earnings per share. Owens & Minor’s quarterly revenue was up 5.0% on a year-over-year basis. Equities research analysts forecast that Owens & Minor, Inc. will post 1.49 earnings per share for the current year.

About Owens & Minor

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.