Algert Global LLC Purchases 81,351 Shares of Owens & Minor, Inc. (NYSE:OMI)

Algert Global LLC increased its position in Owens & Minor, Inc. (NYSE:OMI - Free Report) by 29.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 357,789 shares of the company's stock after buying an additional 81,351 shares during the quarter. Algert Global LLC owned 0.46% of Owens & Minor worth $4,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Owens & Minor by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,915,756 shares of the company's stock worth $116,529,000 after buying an additional 107,092 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Owens & Minor by 13.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company's stock valued at $30,127,000 after purchasing an additional 276,807 shares during the last quarter. Kennedy Capital Management LLC boosted its stake in shares of Owens & Minor by 15.5% during the fourth quarter. Kennedy Capital Management LLC now owns 1,216,859 shares of the company's stock valued at $15,904,000 after purchasing an additional 163,184 shares during the period. Northern Trust Corp increased its stake in shares of Owens & Minor by 13.7% in the fourth quarter. Northern Trust Corp now owns 968,101 shares of the company's stock worth $12,653,000 after buying an additional 116,754 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Owens & Minor by 6.0% during the 4th quarter. Bank of New York Mellon Corp now owns 622,921 shares of the company's stock valued at $8,142,000 after buying an additional 35,105 shares during the period. Hedge funds and other institutional investors own 98.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OMI. UBS Group dropped their price target 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. Robert W. Baird boosted their price target on shares of Owens & Minor from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Monday, March 3rd. Citigroup cut their price objective on Owens & Minor from $13.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. lowered their target price on Owens & Minor from $14.00 to $10.00 and set an "underweight" rating for the company in a research note on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $12.50.

Owens & Minor Price Performance

Owens & Minor stock traded up $0.03 during mid-day trading on Friday, hitting $7.02. The stock had a trading volume of 1,798,096 shares, compared to its average volume of 1,121,481. Owens & Minor, Inc. has a one year low of $6.07 and a one year high of $21.02. 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 $542.33 million, a P/E ratio of -10.80, a P/E/G ratio of 0.20 and a beta of 1.38. The firm's 50 day moving average is $8.13 and its 200 day moving average is $10.79.

Owens & Minor (NYSE:OMI - Get Free Report) last issued its earnings results on Saturday, May 10th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. During the same quarter in the prior year, the firm posted $0.19 EPS. Owens & Minor's quarterly revenue was up .7% compared to the same quarter last year. On average, sell-side analysts forecast 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 stock repurchase plan on Friday, February 28th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 13.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Owens & Minor

In other Owens & Minor news, major shareholder Coliseum Capital Management, L purchased 354,901 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $9.19 per share, with a total value of $3,261,540.19. Following the completion of the purchase, the insider now directly owns 9,824,599 shares in the company, valued at $90,288,064.81. This trade represents a 3.75 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have purchased 2,718,412 shares of company stock worth $24,495,308. Insiders own 3.69% of the company's stock.

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.