Owens & Minor (NYSE:OMI) Trading 3.8% Higher Following Insider Buying Activity

Owens & Minor, Inc. (NYSE:OMI) shares rose 3.8% during trading on Tuesday following insider buying activity. The stock traded as high as $9.63 and last traded at $9.68. Approximately 433,222 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 1,623,577 shares. The stock had previously closed at $9.32.

Specifically, major shareholder Coliseum Capital Management, L acquired 354,901 shares of Owens & Minor stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average price of $9.19 per share, with a total value of $3,261,540.19. Following the transaction, the insider now directly owns 9,824,599 shares in the company, valued at approximately $90,288,064.81. This represents a 3.75 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Coliseum Capital Management, L bought 1,738,511 shares of the company’s stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $9.39 per share, for a total transaction of $16,324,618.29. Following the completion of the acquisition, the insider now directly owns 9,469,698 shares of the company’s stock, valued at approximately $88,920,464.22. This represents a 22.49 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays reduced their price target on Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, November 5th. Citigroup reduced their price objective on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Robert W. Baird upped their target price on shares of Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, UBS Group cut their price target on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.08.

Owens & Minor Trading Up 4.7 %

The stock has a 50-day simple moving average of $11.38 and a two-hundred day simple moving average of $13.14. 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 market cap of $752.66 million, a PE ratio of -15.02, a price-to-earnings-growth ratio of 0.20 and a beta of 0.48.

Owens & Minor (NYSE:OMI) last released its quarterly earnings data on Friday, February 28th. The company reported $0.55 earnings per share for the quarter, beating 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 analysts’ expectations of $2.68 billion. During the same period in the previous year, the company earned $0.69 earnings per share. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Owens & Minor declared that its board has authorized a share repurchase plan on Friday, February 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 13.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. FMR LLC raised its position in Owens & Minor by 0.8% in the third quarter. FMR LLC now owns 11,564,624 shares of the company’s stock worth $181,449,000 after acquiring an additional 90,862 shares during the period. Vanguard Group Inc. increased its stake in shares of Owens & Minor by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 8,915,756 shares of the company’s stock worth $116,529,000 after purchasing an additional 107,092 shares in the last quarter. Coliseum Capital Management LLC raised its holdings in Owens & Minor by 31.3% in the 4th quarter. Coliseum Capital Management LLC now owns 4,785,964 shares of the company’s stock worth $62,553,000 after purchasing an additional 1,141,483 shares during the period. State Street Corp lifted its position in Owens & Minor by 2.6% during the third 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Owens & Minor by 13.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company’s stock valued at $30,127,000 after purchasing an additional 276,807 shares during the period. Institutional investors 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.