Charles Schwab Investment Management Inc. Has $24.86 Million Stock Position in Owens & Minor, Inc. $OMI

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in Owens & Minor, Inc. by 19.4%, owning 2,752,960 shares valued at $24.86 million as of the latest SEC filing.
• Several hedge funds, including Sterling Capital Management and Parallel Advisors, have significantly increased their positions in Owens & Minor, reflecting growing institutional interest in the company.
• Owens & Minor reported $0.26 earnings per share for the quarter, missing analysts' estimates, while the company has set a fiscal year 2025 guidance of 1.020-1.070 EPS.

Charles Schwab Investment Management Inc. increased its holdings in shares of Owens & Minor, Inc. (NYSE:OMI - Free Report) by 19.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,752,960 shares of the company's stock after purchasing an additional 447,917 shares during the period. Charles Schwab Investment Management Inc. owned 3.56% of Owens & Minor worth $24,859,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Owens & Minor by 2.7% during the first quarter. Vanguard Group Inc. now owns 9,156,759 shares of the company's stock worth $82,686,000 after purchasing an additional 241,003 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Owens & Minor by 45.3% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 37,668 shares of the company's stock worth $340,000 after purchasing an additional 11,751 shares during the period. Vestcor Inc grew its holdings in Owens & Minor by 16.2% during the first quarter. Vestcor Inc now owns 48,003 shares of the company's stock worth $433,000 after purchasing an additional 6,700 shares during the period. XTX Topco Ltd bought a new position in Owens & Minor during the first quarter worth about $365,000. Finally, Federated Hermes Inc. bought a new position in Owens & Minor during the first quarter worth about $3,870,000. Institutional investors own 98.04% of the company's stock.

Insider Buying and Selling

In other news, major shareholder Coliseum Capital Management, L acquired 720,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $5.15 per share, for a total transaction of $3,708,000.00. Following the completion of the transaction, the insider directly owned 12,282,955 shares in the company, valued at approximately $63,257,218.25. This trade represents a 6.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have purchased 1,537,852 shares of company stock worth $8,099,544 in the last three months. 3.69% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Citigroup reiterated a "buy" rating and set a $7.00 price target (down previously from $11.00) on shares of Owens & Minor in a report on Tuesday, August 12th. UBS Group set a $7.00 price objective on Owens & Minor in a report on Wednesday, August 13th. Bank of America reduced their price objective on Owens & Minor from $7.50 to $4.75 and set an "underperform" rating for the company in a report on Tuesday, August 12th. Robert W. Baird reduced their price objective on Owens & Minor from $10.00 to $7.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. set a $10.00 price objective on Owens & Minor in a report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $8.29.

Owens & Minor Price Performance

Shares of OMI stock traded down $0.13 during trading on Tuesday, hitting $5.01. The company had a trading volume of 1,636,885 shares, compared to its average volume of 2,001,031. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.83 and a current ratio of 0.86. The firm has a market capitalization of $386.59 million, a P/E ratio of -0.32 and a beta of 1.04. The stock's 50-day moving average price is $7.25 and its 200 day moving average price is $7.59. Owens & Minor, Inc. has a one year low of $4.56 and a one year high of $16.47.

Owens & Minor (NYSE:OMI - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). The company had revenue of $681.90 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 earnings per share. Owens & Minor has set its FY 2025 guidance at 1.020-1.070 EPS. Equities analysts expect that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

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.