LHM Inc. Grows Position in 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. raised its holdings in shares of Owens & Minor, Inc. (NYSE:OMI - Free Report) by 66.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 292,942 shares of the company's stock after buying an additional 117,150 shares during the period. Owens & Minor comprises 0.9% of LHM Inc.'s portfolio, making the stock its 21st largest holding. LHM Inc. owned 0.38% of Owens & Minor worth $2,645,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OMI. Sterling Capital Management LLC grew its stake in Owens & Minor by 758.3% during 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 in the last quarter. Versant Capital Management Inc lifted its position in Owens & Minor by 537.6% during the first quarter. Versant Capital Management Inc now owns 3,201 shares of the company's stock valued at $29,000 after purchasing an additional 2,699 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Owens & Minor by 1,387.0% in the 1st quarter. Parallel Advisors LLC now owns 3,316 shares of the company's stock worth $30,000 after acquiring an additional 3,093 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Owens & Minor in the 1st quarter worth about $55,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Owens & Minor by 713.4% in the 1st quarter. GAMMA Investing LLC now owns 9,265 shares of the company's stock worth $84,000 after acquiring an additional 8,126 shares during the last quarter. 98.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on OMI shares. 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. Robert W. Baird cut their price objective on shares of Owens & Minor from $10.00 to $7.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. JPMorgan Chase & Co. set a $10.00 price objective on shares of Owens & Minor in a research report on Monday, August 11th. Baird R W raised shares of Owens & Minor from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 8th. Finally, UBS Group set a $7.00 target price on shares of Owens & Minor in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Owens & Minor presently has an average rating of "Hold" and an average price target of $8.29.

Owens & Minor Stock Performance

Shares of OMI traded up $0.26 during trading hours on Friday, hitting $5.66. The stock had a trading volume of 2,877,316 shares, compared to its average volume of 1,682,434. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.41 and a current ratio of 0.86. The firm has a 50-day moving average price of $7.62 and a 200 day moving average price of $7.84. Owens & Minor, Inc. has a fifty-two week low of $4.56 and a fifty-two week high of $16.63. The firm has a market capitalization of $437.20 million, a price-to-earnings ratio of -0.36, a PEG ratio of 0.40 and a beta of 1.04.

Owens & Minor (NYSE:OMI - Get Free Report) last posted its 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). Owens & Minor had a negative net margin of 13.78% and a positive return on equity of 26.59%. The firm had revenue of $681.90 million during the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The business's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, research analysts anticipate that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Coliseum Capital Management, L purchased 492,852 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was bought at an average price of $5.31 per share, with a total value of $2,617,044.12. Following the acquisition, the insider owned 13,100,807 shares in the company, valued at $69,565,285.17. The trade was a 3.91% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have acquired 1,537,852 shares of company stock valued at $8,099,544. 3.69% of the stock is currently owned by insiders.

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.