Goldman Sachs Group Inc. Grows Stock Position in Owens & Minor, Inc. $OMI

Key Points

• Goldman Sachs Group Inc. increased its stake in Owens & Minor, Inc. by 43.9%, owning 576,799 shares after purchasing an additional 175,866 shares, valued at approximately $5.2 million.
• Multiple hedge funds have also significantly increased their holdings in Owens & Minor, resulting in institutional investors owning 98.04% of the company's stock.
• Analyst ratings for Owens & Minor have shifted, with recent target prices now falling to as low as $6.00 following a series of downgrades, reflecting concerns about the company's performance.

Goldman Sachs Group Inc. grew its holdings in shares of Owens & Minor, Inc. (NYSE:OMI - Free Report) by 43.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 576,799 shares of the company's stock after acquiring an additional 175,866 shares during the quarter. Goldman Sachs Group Inc. owned 0.75% of Owens & Minor worth $5,208,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of OMI. Versant Capital Management Inc raised its stake in 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 acquiring an additional 2,699 shares in the last quarter. Parallel Advisors LLC raised its stake in Owens & Minor by 1,387.0% during the first quarter. Parallel Advisors LLC now owns 3,316 shares of the company's stock worth $30,000 after acquiring an additional 3,093 shares in the last quarter. Quarry LP acquired a new position in Owens & Minor during the first quarter worth about $34,000. Headlands Technologies LLC acquired a new position in shares of Owens & Minor in the first quarter valued at approximately $55,000. Finally, GAMMA Investing LLC increased its position in Owens & Minor by 713.4% during the 1st quarter. GAMMA Investing LLC now owns 9,265 shares of the company's stock valued at $84,000 after purchasing an additional 8,126 shares during the period. Institutional investors and hedge funds own 98.04% of the company's stock.

Owens & Minor Price Performance

Shares of NYSE:OMI traded down $0.32 during trading on Friday, hitting $5.24. 16,379,807 shares of the company's stock were exchanged, compared to its average volume of 1,945,458. The business's 50-day simple moving average is $6.13 and its 200 day simple moving average is $7.29. Owens & Minor, Inc. has a 52-week low of $4.56 and a 52-week high of $16.38. The company has a market cap of $404.35 million, a price-to-earnings ratio of -0.33 and a beta of 1.03. The company has a debt-to-equity ratio of 3.32, a current ratio of 0.86 and a quick ratio of 0.83.

Owens & Minor (NYSE:OMI - Get Free Report) last posted its quarterly earnings data 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%. Owens & Minor's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. Owens & Minor has set its FY 2025 guidance at 1.020-1.070 EPS. As a group, equities analysts predict that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Wall Street Analysts Forecast Growth

OMI has been the subject of a number of recent analyst reports. Citigroup reissued a "buy" rating and set a $7.00 target price (down previously from $11.00) on shares of Owens & Minor in a research report on Tuesday, August 12th. Baird R W upgraded Owens & Minor from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Bank of America cut their price target on Owens & Minor from $7.50 to $4.75 and set an "underperform" rating on the stock in a report on Tuesday, August 12th. Zacks Research cut Owens & Minor from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 2nd. Finally, JPMorgan Chase & Co. cut their price target on Owens & Minor from $7.00 to $6.00 and set an "underweight" rating on the stock in a report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $7.63.

Insider Buying and Selling at Owens & Minor

In related news, major shareholder Coliseum Capital Management, L purchased 492,852 shares of Owens & Minor stock in a transaction dated Thursday, August 14th. The stock was purchased at an average cost of $5.31 per share, with a total value of $2,617,044.12. Following the transaction, the insider owned 13,100,807 shares in the company, valued at approximately $69,565,285.17. The trade was a 3.91% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders acquired 1,537,852 shares of company stock valued at $8,099,544. 3.69% of the stock is currently owned by corporate insiders.

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.