Invesco Ltd. Acquires 285,060 Shares of Owens & Minor, Inc. $OMI

Key Points

• Invesco Ltd. increased its stake in Owens & Minor, Inc. by 19.9%, acquiring an additional 285,060 shares, bringing its total ownership to 1,716,895 shares valued at approximately $15.5 million.
• Research analysts show mixed sentiments towards Owens & Minor, with Bank of America cutting its price target from $7.50 to $4.75, while Citigroup maintains a "buy" rating with a target of $7.00.
• Major shareholder Coliseum Capital Management recently purchased 492,852 shares at an average price of $5.31, increasing its ownership in the company by 3.91%.

Invesco Ltd. raised its holdings in Owens & Minor, Inc. (NYSE:OMI - Free Report) by 19.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,716,895 shares of the company's stock after purchasing an additional 285,060 shares during the quarter. Invesco Ltd. owned 2.22% of Owens & Minor worth $15,504,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC grew its position in Owens & Minor by 758.3% in 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 during the last quarter. Versant Capital Management Inc increased its position in Owens & Minor by 537.6% during the 1st 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. Parallel Advisors LLC increased its position in Owens & Minor by 1,387.0% during the 1st quarter. Parallel Advisors LLC now owns 3,316 shares of the company's stock worth $30,000 after purchasing an additional 3,093 shares in the last quarter. Headlands Technologies LLC acquired a new position in Owens & Minor during the 1st quarter worth 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 worth $84,000 after purchasing an additional 8,126 shares in the last quarter. Institutional investors own 98.04% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on OMI. Citigroup reiterated a "buy" rating and set a $7.00 price objective (down from $11.00) on shares of Owens & Minor in a research report on Tuesday, August 12th. UBS Group set a $7.00 price objective on Owens & Minor in a research note on Wednesday, August 13th. Bank of America lowered their price objective on Owens & Minor from $7.50 to $4.75 and set an "underperform" rating for the company in a research note on Tuesday, August 12th. JPMorgan Chase & Co. lowered their price objective on Owens & Minor from $7.00 to $6.00 and set an "underweight" rating for the company in a research note on Wednesday. Finally, Robert W. Baird lowered their price objective on Owens & Minor from $10.00 to $7.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $7.63.

Insider Buying and Selling

In related news, major shareholder Coliseum Capital Management, L bought 492,852 shares of Owens & Minor stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average cost of $5.31 per share, for a total transaction of $2,617,044.12. Following the completion of the acquisition, the insider directly owned 13,100,807 shares of the company's stock, 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 SEC, which is available at the SEC website. Insiders purchased 1,537,852 shares of company stock valued at $8,099,544 in the last quarter. Corporate insiders own 3.69% of the company's stock.

Owens & Minor Trading Up 1.2%

OMI stock traded up $0.06 during trading on Thursday, hitting $4.95. The company had a trading volume of 1,789,865 shares, compared to its average volume of 2,091,561. The business has a 50-day moving average of $7.15 and a 200-day moving average of $7.54. Owens & Minor, Inc. has a one year low of $4.56 and a one year high of $16.47. The stock has a market cap of $382.18 million, a PE ratio of -0.32 and a beta of 1.04. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 3.32.

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

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.