Algert Global LLC Grows Holdings in Owens & Minor, Inc. (NYSE:OMI)

Algert Global LLC grew its stake in Owens & Minor, Inc. (NYSE:OMI - Free Report) by 29.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 357,789 shares of the company's stock after buying an additional 81,351 shares during the period. Algert Global LLC owned 0.46% of Owens & Minor worth $4,676,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OMI. Barclays PLC grew its holdings in shares of Owens & Minor by 354.8% during the third quarter. Barclays PLC now owns 133,702 shares of the company's stock worth $2,099,000 after purchasing an additional 104,305 shares during the last quarter. Franklin Resources Inc. grew its stake in Owens & Minor by 6.5% during the 3rd quarter. Franklin Resources Inc. now owns 61,223 shares of the company's stock worth $961,000 after buying an additional 3,743 shares during the last quarter. JPMorgan Chase & Co. increased its position in Owens & Minor by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 376,830 shares of the company's stock worth $5,912,000 after buying an additional 152,999 shares during the period. Nordea Investment Management AB lifted its stake in Owens & Minor by 5.9% in the fourth quarter. Nordea Investment Management AB now owns 174,368 shares of the company's stock valued at $2,269,000 after buying an additional 9,725 shares during the last quarter. Finally, Inspire Investing LLC boosted its holdings in shares of Owens & Minor by 15.2% in the fourth quarter. Inspire Investing LLC now owns 33,526 shares of the company's stock valued at $438,000 after acquiring an additional 4,421 shares during the period. 98.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Robert W. Baird lifted their target price on shares of Owens & Minor from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Monday, March 3rd. Citigroup dropped their price objective on shares of Owens & Minor from $13.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. UBS Group lowered their price target on Owens & Minor from $25.00 to $13.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their price objective 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 equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Owens & Minor has an average rating of "Hold" and a consensus target price of $12.50.

Insider Transactions at Owens & Minor

In other Owens & Minor news, major shareholder Coliseum Capital Management, L purchased 1,738,511 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $9.39 per share, with a total value of $16,324,618.29. Following the transaction, the insider now owns 9,469,698 shares in the company, valued at approximately $88,920,464.22. This trade represents a 22.49 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders bought 2,718,412 shares of company stock worth $24,495,308. 3.69% of the stock is currently owned by company insiders.

Owens & Minor Trading Up 0.4 %

OMI traded up $0.03 during midday trading on Friday, hitting $7.02. The company's stock had a trading volume of 1,798,096 shares, compared to its average volume of 1,120,141. Owens & Minor, Inc. has a 52-week low of $6.07 and a 52-week high of $21.02. The firm has a 50-day moving average price of $8.13 and a two-hundred day moving average price of $10.81. 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 cap of $542.33 million, a P/E ratio of -10.80, a PEG ratio of 0.20 and a beta of 1.38.

Owens & Minor (NYSE:OMI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates 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%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the firm posted $0.19 EPS. The business's revenue for the quarter was up .7% on a year-over-year basis. On average, research analysts anticipate that Owens & Minor, Inc. will post 1.51 earnings per share for the current year.

Owens & Minor declared that its board has approved a stock repurchase program on Friday, February 28th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

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.