Owens & Minor, Inc. (NYSE:OMI) Shares Sold by Inspire Investing LLC

Inspire Investing LLC cut its holdings in Owens & Minor, Inc. (NYSE:OMI) by 40.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,478 shares of the company’s stock after selling 19,388 shares during the period. Inspire Investing LLC’s holdings in Owens & Minor were worth $384,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Owens & Minor in the fourth quarter valued at $9,160,000. Renaissance Technologies LLC increased its position in shares of Owens & Minor by 16.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,246,600 shares of the company’s stock worth $16,829,000 after purchasing an additional 176,250 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Owens & Minor during the 1st quarter worth about $4,683,000. Vanguard Group Inc. raised its holdings in Owens & Minor by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 8,749,866 shares of the company’s stock valued at $242,459,000 after buying an additional 162,182 shares during the period. Finally, Kennedy Capital Management LLC lifted its position in Owens & Minor by 42.6% in the first quarter. Kennedy Capital Management LLC now owns 525,849 shares of the company’s stock valued at $14,571,000 after buying an additional 157,038 shares during the last quarter. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Owens & Minor from a “buy” rating to a “hold” rating in a research note on Monday, August 26th. Barclays lowered their price target on Owens & Minor from $23.00 to $18.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Bank of America cut their price objective on Owens & Minor from $18.00 to $16.00 and set an “underperform” rating on the stock in a report on Tuesday, June 25th. Citigroup upgraded Owens & Minor from a “neutral” rating to a “buy” rating and lowered their target price for the company from $24.00 to $19.00 in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. cut their price target on shares of Owens & Minor from $22.00 to $18.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.00.

Owens & Minor Price Performance

OMI stock opened at $15.88 on Friday. The business’s 50-day moving average is $15.51 and its two-hundred day moving average is $18.86. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.09 and a quick ratio of 0.51. The firm has a market capitalization of $1.21 billion, a P/E ratio of -31.14, a P/E/G ratio of 0.47 and a beta of 0.39. Owens & Minor, Inc. has a 1 year low of $12.36 and a 1 year high of $28.35.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Owens & Minor had a negative net margin of 0.40% and a positive return on equity of 14.66%. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. Analysts anticipate that Owens & Minor, Inc. will post 1.57 earnings per share for the current fiscal year.

Owens & Minor Company Profile

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.