Swiss National Bank Trims Stock Position in Owens & Minor, Inc. (NYSE:OMI)

Swiss National Bank trimmed its stake in Owens & Minor, Inc. (NYSE:OMI) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,500 shares of the company’s stock after selling 5,500 shares during the period. Swiss National Bank owned approximately 0.18% of Owens & Minor worth $1,784,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Blue Trust Inc. boosted its stake in Owens & Minor by 57.4% during the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock worth $57,000 after purchasing an additional 1,600 shares during the period. KBC Group NV raised its holdings in shares of Owens & Minor by 98.2% in the fourth quarter. KBC Group NV now owns 4,434 shares of the company’s stock valued at $58,000 after buying an additional 2,197 shares during the last quarter. Inspire Advisors LLC boosted its stake in shares of Owens & Minor by 11.2% during the fourth quarter. Inspire Advisors LLC now owns 15,350 shares of the company’s stock worth $201,000 after buying an additional 1,548 shares during the period. Wealthfront Advisers LLC purchased a new position in shares of Owens & Minor during the fourth quarter worth about $257,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Owens & Minor by 34.2% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 25,917 shares of the company’s stock valued at $339,000 after acquiring an additional 6,609 shares during the period. 98.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OMI has been the topic of a number of analyst reports. UBS Group lowered their price objective on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. lowered their price objective on Owens & Minor from $14.00 to $10.00 and set an “underweight” rating on the stock in a report on Monday, March 10th. Finally, Robert W. Baird increased their target price on Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. Two research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.75.

Owens & Minor Trading Up 1.2 %

Shares of OMI opened at $8.60 on Friday. Owens & Minor, Inc. has a twelve month low of $6.07 and a twelve month high of $28.35. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11. The firm has a market capitalization of $664.17 million, a P/E ratio of -13.23, a PEG ratio of 0.20 and a beta of 0.61. The firm’s 50-day moving average is $9.84 and its two-hundred day moving average is $12.39.

Owens & Minor (NYSE:OMI) last released its quarterly earnings results on Friday, February 28th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. On average, research analysts predict that Owens & Minor, Inc. will post 1.51 earnings per share for the current fiscal year.

Owens & Minor declared that its Board of Directors has authorized a stock repurchase plan on Friday, February 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 13.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Owens & Minor

In related news, major shareholder Coliseum Capital Management, L bought 1,738,511 shares of Owens & Minor stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $9.39 per share, with a total value of $16,324,618.29. Following the purchase, the insider now owns 9,469,698 shares in the company, valued at $88,920,464.22. This represents a 22.49 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.59% of the stock is currently owned by insiders.

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.