LHM Inc. Purchases 117,150 Shares of Owens & Minor, Inc. (NYSE:OMI)

Key Points

• LHM Inc. increased its stake in Owens & Minor, Inc. by 66.6%, now owning 292,942 shares valued at approximately $2,645,000.
• Owens & Minor reported a quarterly earnings miss with earnings per share of $0.26, falling short of expectations of $0.27, while revenue was significantly below analyst estimates.
• Analysts have mixed opinions on Owens & Minor, with price targets ranging from $4.75 to $10.00 and a consensus rating of "Hold."

LHM Inc. boosted its stake in Owens & Minor, Inc. (NYSE:OMI - Free Report) by 66.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 292,942 shares of the company's stock after purchasing an additional 117,150 shares during the period. Owens & Minor makes up about 0.9% of LHM Inc.'s investment portfolio, making the stock its 21st biggest holding. LHM Inc. owned approximately 0.38% of Owens & Minor worth $2,645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Owens & Minor by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,930 shares of the company's stock worth $561,000 after acquiring an additional 1,662 shares during the period. Sterling Capital Management LLC boosted its stake in Owens & Minor by 758.3% during the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company's stock valued at $27,000 after purchasing an additional 1,820 shares during the period. Legal & General Group Plc grew its position in Owens & Minor by 0.9% in the 4th quarter. Legal & General Group Plc now owns 212,061 shares of the company's stock worth $2,772,000 after purchasing an additional 1,991 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Owens & Minor by 11.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 20,259 shares of the company's stock worth $265,000 after purchasing an additional 2,112 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Owens & Minor by 537.6% in the first quarter. Versant Capital Management Inc now owns 3,201 shares of the company's stock valued at $29,000 after buying an additional 2,699 shares during the period. Institutional investors and hedge funds own 98.04% of the company's stock.

Owens & Minor Stock Performance

NYSE:OMI traded up $0.26 during midday trading on Friday, reaching $5.66. The stock had a trading volume of 2,877,316 shares, compared to its average volume of 1,520,969. The stock has a market capitalization of $437.18 million, a P/E ratio of -0.36, a PEG ratio of 0.38 and a beta of 1.04. Owens & Minor, Inc. has a 1-year low of $4.56 and a 1-year high of $16.63. The company has a debt-to-equity ratio of 3.32, a current ratio of 0.86 and a quick ratio of 0.41. The firm's fifty day simple moving average is $7.67 and its 200-day simple moving average is $7.96.

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 business had revenue of $681.90 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 earnings per share. On average, equities research analysts forecast that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on OMI shares. Citigroup restated a "buy" rating and set a $7.00 target price (down from $11.00) on shares of Owens & Minor in a report on Tuesday. Robert W. Baird cut their target price on shares of Owens & Minor from $10.00 to $7.00 and set an "outperform" rating for the company in a research report on Tuesday. Baird R W raised Owens & Minor from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. set a $10.00 target price on shares of Owens & Minor in a research note on Monday. Finally, UBS Group set a $7.00 target price on shares of Owens & Minor in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $8.29.

Insider Activity

In related news, major shareholder Coliseum Capital Management, L bought 492,852 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of $5.31 per share, for a total transaction of $2,617,044.12. Following the purchase, the insider directly owned 13,100,807 shares in the company, valued at $69,565,285.17. This trade represents a 3.91% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 1,537,852 shares of company stock valued at $8,099,544 in the last 90 days. Company 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.