Bank of America Corp DE Lowers Stock Holdings in Owens & Minor, Inc. (NYSE:OMI)

Bank of America Corp DE decreased its holdings in shares of Owens & Minor, Inc. (NYSE:OMI - Free Report) by 58.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 150,989 shares of the company's stock after selling 213,509 shares during the period. Bank of America Corp DE owned 0.20% of Owens & Minor worth $1,973,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in OMI. Inspire Advisors LLC increased its position in shares of Owens & Minor by 11.2% during the fourth quarter. Inspire Advisors LLC now owns 15,350 shares of the company's stock valued at $201,000 after acquiring an additional 1,548 shares in the last quarter. Blue Trust Inc. increased its position in shares of Owens & Minor by 57.4% during the fourth quarter. Blue Trust Inc. now owns 4,387 shares of the company's stock valued at $57,000 after acquiring an additional 1,600 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Owens & Minor by 758.3% during the fourth quarter. Sterling Capital Management LLC now owns 2,060 shares of the company's stock valued at $27,000 after acquiring an additional 1,820 shares in the last quarter. Legal & General Group Plc increased its position in shares of Owens & Minor by 0.9% during the fourth quarter. Legal & General Group Plc now owns 212,061 shares of the company's stock valued at $2,772,000 after acquiring an additional 1,991 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Owens & Minor by 11.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 20,259 shares of the company's stock valued at $265,000 after acquiring an additional 2,112 shares in the last quarter. Institutional investors own 98.04% of the company's stock.

Owens & Minor Stock Performance

NYSE:OMI traded up $0.37 during trading hours on Friday, reaching $7.98. The company had a trading volume of 1,432,789 shares, compared to its average volume of 1,166,927. 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, Inc. has a 52 week low of $6.07 and a 52 week high of $17.75. The firm has a market cap of $616.80 million, a price-to-earnings ratio of -12.28, a PEG ratio of 0.20 and a beta of 1.31. The firm's 50 day moving average price is $7.15 and its 200-day moving average price is $9.99.

Owens & Minor (NYSE:OMI - Get Free Report) last issued its quarterly earnings results on Saturday, May 10th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The firm's quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 EPS. On average, analysts forecast that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Owens & Minor declared that its board has authorized a share repurchase plan on Friday, February 28th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to buy up to 13.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Insider Transactions at Owens & Minor

In other Owens & Minor news, major shareholder Coliseum Capital Management, L purchased 160,000 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were acquired at an average price of $8.53 per share, for a total transaction of $1,364,800.00. Following the purchase, the insider now directly owns 10,784,599 shares of the company's stock, valued at $91,992,629.47. The trade was a 1.51% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 625,000 shares of company stock worth $4,909,150 in the last 90 days. 3.69% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on OMI. UBS Group reduced their price target on shares of Owens & Minor from $25.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. reduced their price target on shares of Owens & Minor from $14.00 to $10.00 and set an "underweight" rating for the company in a research report on Monday, March 10th. Robert W. Baird raised their price target on shares of Owens & Minor from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Citigroup cut their target price on shares of Owens & Minor from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $12.33.

Owens & Minor Company 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.