Norges Bank Buys Shares of 188,618 Owens & Minor, Inc. (NYSE:OMI)

Norges Bank purchased a new stake in Owens & Minor, Inc. (NYSE:OMI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 188,618 shares of the company's stock, valued at approximately $2,465,000. Norges Bank owned about 0.24% of Owens & Minor as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Owens & Minor by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,915,756 shares of the company's stock valued at $116,529,000 after acquiring an additional 107,092 shares during the last quarter. State Street Corp increased its stake in shares of Owens & Minor by 2.6% in the third quarter. State Street Corp now owns 3,064,547 shares of the company's stock valued at $48,083,000 after buying an additional 78,985 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of 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 worth $30,127,000 after buying an additional 276,807 shares during the period. Geode Capital Management LLC grew its holdings in Owens & Minor by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,711,453 shares of the company's stock worth $26,858,000 after acquiring an additional 13,164 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Owens & Minor by 6.0% in the fourth quarter. Bank of New York Mellon Corp now owns 622,921 shares of the company's stock worth $8,142,000 after purchasing an additional 35,105 shares in the last quarter. 98.04% of the stock is currently owned by institutional investors.

Owens & Minor Trading Up 1.0 %

NYSE OMI traded up $0.07 on Thursday, reaching $6.84. 177,740 shares of the company were exchanged, compared to its average volume of 1,090,454. Owens & Minor, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $25.82. The stock has a market capitalization of $528.12 million, a P/E ratio of -10.45, a price-to-earnings-growth ratio of 0.20 and a beta of 1.02. The business's fifty day moving average price is $8.32 and its 200 day moving average price is $11.63. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11.

Owens & Minor (NYSE:OMI - Get Free Report) last released its quarterly earnings results on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.02. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.68 billion. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The business's revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. Analysts forecast that Owens & Minor, Inc. will post 1.51 earnings per share for the current 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 outstanding shares. This repurchase authorization authorizes the company to reacquire up to 13.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently commented on the company. UBS Group lowered their price objective on Owens & Minor from $25.00 to $13.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. dropped their price objective on shares of 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 boosted their price objective on Owens & Minor from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. 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. According to data from MarketBeat.com, Owens & Minor presently has a consensus rating of "Hold" and an average price target of $13.75.

Insider Transactions at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L acquired 160,000 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were bought at an average cost of $8.53 per share, with a total value of $1,364,800.00. Following the purchase, the insider now owns 10,784,599 shares of the company's stock, valued at $91,992,629.47. This represents a 1.51 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders purchased 2,718,412 shares of company stock worth $24,495,308. 3.59% of the stock is currently owned by insiders.

Owens & Minor 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.