Cubist Systematic Strategies LLC Buys New Stake in Owens & Minor, Inc. $OMI

Key Points

• Cubist Systematic Strategies LLC has acquired a new position in Owens & Minor, purchasing 327,182 shares worth approximately $2.95 million during the first quarter.
• Analysts have mixed views on Owens & Minor, with price targets ranging from $4.75 to $7.63, indicating a general consensus rating of "Hold."
• Major shareholder Coliseum Capital Management recently bought 720,000 shares at an average price of $5.15, increasing their position by 6.23%.

Cubist Systematic Strategies LLC bought a new stake in Owens & Minor, Inc. (NYSE:OMI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 327,182 shares of the company's stock, valued at approximately $2,954,000. Cubist Systematic Strategies LLC owned 0.42% of Owens & Minor at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Owens & Minor by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 9,156,759 shares of the company's stock valued at $82,686,000 after buying an additional 241,003 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Owens & Minor by 19.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,752,960 shares of the company's stock worth $24,859,000 after acquiring an additional 447,917 shares during the period. Invesco Ltd. boosted its holdings in shares of Owens & Minor by 19.9% in the first quarter. Invesco Ltd. now owns 1,716,895 shares of the company's stock valued at $15,504,000 after acquiring an additional 285,060 shares in the last quarter. Northern Trust Corp increased its stake in shares of Owens & Minor by 13.7% during the fourth quarter. Northern Trust Corp now owns 968,101 shares of the company's stock worth $12,653,000 after acquiring an additional 116,754 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Owens & Minor by 133.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 703,050 shares of the company's stock worth $6,349,000 after purchasing an additional 401,472 shares in the last quarter. 98.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OMI. Bank of America lowered their price objective on Owens & Minor from $7.50 to $4.75 and set an "underperform" rating on the stock in a report on Tuesday, August 12th. Baird R W raised Owens & Minor from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Zacks Research lowered Owens & Minor from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 2nd. JPMorgan Chase & Co. reduced their target price on Owens & Minor from $7.00 to $6.00 and set an "underweight" rating for the company in a report on Wednesday, August 27th. Finally, UBS Group set a $7.00 target price on shares of Owens & Minor in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Owens & Minor presently has an average rating of "Hold" and a consensus target price of $7.63.

Owens & Minor Price Performance

Shares of OMI stock traded down $0.02 during trading hours on Thursday, hitting $5.46. The company's stock had a trading volume of 1,910,956 shares, compared to its average volume of 1,813,494. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 3.32. The business has a fifty day moving average of $6.54 and a 200-day moving average of $7.42. Owens & Minor, Inc. has a twelve month low of $4.56 and a twelve month high of $16.47. The stock has a market cap of $421.73 million, a price-to-earnings ratio of -0.35 and a beta of 1.03.

Owens & Minor (NYSE:OMI - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). The firm had revenue of $681.90 million during the quarter, compared to analyst estimates of $2.73 billion. Owens & Minor had a negative net margin of 13.78% and a positive return on equity of 26.59%. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. Owens & Minor has set its FY 2025 guidance at 1.020-1.070 EPS. As a group, equities research analysts anticipate that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Insider Transactions at Owens & Minor

In related news, major shareholder Coliseum Capital Management, L purchased 492,852 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were bought at an average price of $5.31 per share, for a total transaction of $2,617,044.12. Following the acquisition, the insider directly owned 13,100,807 shares in the company, valued at $69,565,285.17. This trade represents a 3.91% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders have purchased 1,537,852 shares of company stock valued at $8,099,544 in the last ninety days. 3.69% 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.