GAMMA Investing LLC Increases Holdings in Owens & Minor, Inc. (NYSE:OMI)

GAMMA Investing LLC lifted its stake in Owens & Minor, Inc. (NYSE:OMI - Free Report) by 7,245.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,663 shares of the company's stock after purchasing an additional 82,524 shares during the period. GAMMA Investing LLC owned about 0.11% of Owens & Minor worth $755,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OMI. 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 worth $27,000 after purchasing an additional 1,820 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Owens & Minor by 537.6% during the first quarter. Versant Capital Management Inc now owns 3,201 shares of the company's stock worth $29,000 after purchasing an additional 2,699 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 worth $57,000 after purchasing an additional 1,600 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of Owens & Minor during the fourth quarter worth about $140,000. Finally, Guggenheim Capital LLC acquired a new stake in shares of Owens & Minor during the fourth quarter worth about $166,000. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OMI has been the topic of a number of research analyst reports. Robert W. Baird lifted their target price on Owens & Minor from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, June 6th. JPMorgan Chase & Co. dropped their price target on Owens & Minor from $14.00 to $10.00 and set an "underweight" rating on the stock in a research report on Monday, March 10th. Finally, Citigroup dropped their price target 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Owens & Minor currently has a consensus rating of "Hold" and an average price target of $12.33.

Owens & Minor Trading Down 1.5%

OMI traded down $0.12 during trading on Friday, hitting $7.35. The company's stock had a trading volume of 2,898,004 shares, compared to its average volume of 1,182,211. The firm's 50 day moving average price is $7.13 and its 200-day moving average price is $9.58. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.41. The stock has a market cap of $567.40 million, a PE ratio of -1.55, a PEG ratio of 0.32 and a beta of 1.31. Owens & Minor, Inc. has a twelve month low of $6.07 and a twelve month high of $17.23.

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, beating the consensus estimate of $0.20 by $0.03. Owens & Minor had a positive return on equity of 17.09% and a negative net margin of 3.41%. Owens & Minor's revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 earnings per share. On average, analysts expect that Owens & Minor, Inc. will post 1.51 earnings per share for the current year.

Owens & Minor announced that its board has approved a share repurchase program on Friday, February 28th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 13.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L acquired 160,000 shares of the company's stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average cost of $8.53 per share, for a total transaction of $1,364,800.00. Following the acquisition, the insider now directly owns 10,784,599 shares in the company, valued at approximately $91,992,629.47. This represents a 1.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders acquired 625,000 shares of company stock worth $4,909,150. 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.