Bank of New York Mellon Corp Purchases 35,105 Shares of Owens & Minor, Inc. (NYSE:OMI)

Bank of New York Mellon Corp boosted its position in Owens & Minor, Inc. (NYSE:OMI) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 622,921 shares of the company’s stock after purchasing an additional 35,105 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.81% of Owens & Minor worth $8,142,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of Owens & Minor by 19.2% during the third quarter. Victory Capital Management Inc. now owns 153,416 shares of the company’s stock valued at $2,407,000 after buying an additional 24,722 shares during the last quarter. Royce & Associates LP boosted its position in shares of Owens & Minor by 179.4% during the third quarter. Royce & Associates LP now owns 80,914 shares of the company’s stock valued at $1,270,000 after buying an additional 51,955 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Owens & Minor by 5.3% during the third quarter. Empowered Funds LLC now owns 337,766 shares of the company’s stock valued at $5,300,000 after buying an additional 17,152 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of Owens & Minor by 844.1% during the third quarter. Meeder Asset Management Inc. now owns 9,016 shares of the company’s stock valued at $141,000 after buying an additional 8,061 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its position in shares of Owens & Minor by 2.1% during the third quarter. Segall Bryant & Hamill LLC now owns 137,199 shares of the company’s stock valued at $2,153,000 after buying an additional 2,883 shares during the last quarter. Institutional investors own 98.04% of the company’s stock.

Wall Street Analysts Forecast Growth

OMI has been the topic of several recent analyst reports. Robert W. Baird lifted their target price on Owens & Minor from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. 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. Finally, UBS Group reduced their price objective on Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Owens & Minor currently has a consensus rating of “Hold” and an average target price of $13.75.

Owens & Minor Price Performance

NYSE:OMI opened at $9.40 on Friday. Owens & Minor, Inc. has a 52 week low of $6.07 and a 52 week high of $28.35. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The company has a market capitalization of $726.04 million, a P/E ratio of -14.46, a P/E/G ratio of 0.20 and a beta of 0.61. The stock’s fifty day moving average is $10.86 and its two-hundred day moving average is $12.82.

Owens & Minor (NYSE:OMI) last released its earnings results on Friday, February 28th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. 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 firm posted $0.69 EPS. Owens & Minor’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts expect that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Owens & Minor announced that its board has authorized a share repurchase program on Friday, February 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 13.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, major shareholder Coliseum Capital Management, L acquired 354,901 shares of Owens & Minor stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $9.19 per share, with a total value of $3,261,540.19. Following the purchase, the insider now directly owns 9,824,599 shares in the company, valued at approximately $90,288,064.81. The trade was a 3.75 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.59% 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.