Charles Schwab Investment Management Inc. Grows Position in Owens & Minor, Inc. (NYSE:OMI)

Charles Schwab Investment Management Inc. increased its position in shares of Owens & Minor, Inc. (NYSE:OMI) by 13.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,305,043 shares of the company’s stock after acquiring an additional 276,807 shares during the period. Charles Schwab Investment Management Inc. owned about 2.99% of Owens & Minor worth $30,127,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Royce & Associates LP raised its position in Owens & Minor by 179.4% in the 3rd quarter. Royce & Associates LP now owns 80,914 shares of the company’s stock valued at $1,270,000 after purchasing an additional 51,955 shares in the last quarter. Waldron Private Wealth LLC acquired a new stake in Owens & Minor in the 4th quarter valued at about $406,000. FMR LLC raised its position in Owens & Minor by 0.8% in the 3rd quarter. FMR LLC now owns 11,564,624 shares of the company’s stock valued at $181,449,000 after purchasing an additional 90,862 shares in the last quarter. JPMorgan Chase & Co. raised its position in Owens & Minor by 68.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 376,830 shares of the company’s stock valued at $5,912,000 after purchasing an additional 152,999 shares in the last quarter. Finally, Foundry Partners LLC acquired a new stake in Owens & Minor in the 3rd quarter valued at about $5,238,000. Institutional investors and hedge funds own 98.04% of the company’s stock.

Owens & Minor Stock Up 1.6 %

OMI opened at $9.40 on Monday. The business has a 50 day simple moving average of $10.86 and a 200-day simple moving average of $12.78. The stock 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. Owens & Minor, Inc. has a 12 month low of $6.07 and a 12 month high of $28.35. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Friday, February 28th. The company reported $0.55 earnings per share (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 earnings per share. Owens & Minor’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts anticipate that Owens & Minor, Inc. will post 1.51 earnings per share for the current fiscal year.

Owens & Minor announced that its board has initiated a share repurchase plan on Friday, February 28th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 13.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L purchased 354,901 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was bought at an average cost of $9.19 per share, for a total transaction of $3,261,540.19. Following the completion of the purchase, the insider now directly owns 9,824,599 shares of the company’s stock, valued at $90,288,064.81. The trade was a 3.75 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OMI. Robert W. Baird increased their price objective on Owens & Minor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. UBS Group dropped their price target 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. Finally, JPMorgan Chase & Co. dropped their price target 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. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $13.75.

Owens & Minor Company Profile

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.