412,987 Shares in Owens & Minor, Inc. $OMI Purchased by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new position in Owens & Minor, Inc., purchasing 412,987 shares valued at approximately $3.73 million, representing 0.53% of the company's stock.
• Insider Coliseum Capital Management recently bought 720,000 shares for around $3.71 million, increasing their ownership stake to 12,282,955 shares, worth about $63.26 million.
• Owens & Minor's stock has experienced a decline of 2.6%, currently trading at $4.88, with the company reporting disappointing quarterly earnings, missing consensus estimates by $0.01.

Nuveen LLC purchased a new stake in shares of Owens & Minor, Inc. (NYSE:OMI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 412,987 shares of the company's stock, valued at approximately $3,729,000. Nuveen LLC owned about 0.53% of Owens & Minor at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OMI. Invesco Ltd. boosted its position in shares of Owens & Minor by 19.9% during the first quarter. Invesco Ltd. now owns 1,716,895 shares of the company's stock valued at $15,504,000 after buying an additional 285,060 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Owens & Minor by 133.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 703,050 shares of the company's stock valued at $6,349,000 after acquiring an additional 401,472 shares during the period. Wolverine Asset Management LLC grew its position in Owens & Minor by 69.6% in the 1st quarter. Wolverine Asset Management LLC now owns 282,310 shares of the company's stock valued at $2,549,000 after acquiring an additional 115,880 shares during the last quarter. LaSalle St. Investment Advisors LLC purchased a new stake in Owens & Minor in the first quarter worth $672,000. Finally, Swiss National Bank lifted its position in shares of Owens & Minor by 4.0% during the first quarter. Swiss National Bank now owns 142,000 shares of the company's stock worth $1,282,000 after purchasing an additional 5,500 shares during the last quarter. 98.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OMI has been the topic of a number of research analyst reports. UBS Group set a $7.00 price target on shares of Owens & Minor in a report on Wednesday, August 13th. 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. Robert W. Baird decreased their price target on shares of Owens & Minor from $10.00 to $7.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Bank of America lowered their price target on Owens & Minor from $7.50 to $4.75 and set an "underperform" rating for the company in a report on Tuesday, August 12th. Finally, Citigroup reissued a "buy" rating and issued a $7.00 price objective (down previously from $11.00) on shares of Owens & Minor in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Owens & Minor has an average rating of "Hold" and a consensus target price of $7.63.

Insiders Place Their Bets

In other news, major shareholder Coliseum Capital Management, L purchased 492,852 shares of the business's stock in a transaction on Thursday, August 14th. The shares were acquired at an average cost of $5.31 per share, with a total value of $2,617,044.12. Following the completion of the acquisition, the insider owned 13,100,807 shares of the company's stock, valued at $69,565,285.17. This trade represents a 3.91% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have purchased 1,537,852 shares of company stock valued at $8,099,544 in the last three months. 3.69% of the stock is owned by company insiders.

Owens & Minor Stock Down 0.3%

Shares of NYSE OMI traded down $0.02 during mid-day trading on Tuesday, reaching $4.89. 155,970 shares of the company were exchanged, compared to its average volume of 1,512,911. Owens & Minor, Inc. has a 1 year low of $4.56 and a 1 year high of $16.47. The firm has a 50-day moving average of $7.05 and a 200 day moving average of $7.50. The stock has a market cap of $377.32 million, a price-to-earnings ratio of -0.31 and a beta of 1.03. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 3.32.

Owens & Minor (NYSE:OMI - Get Free Report) last released its quarterly 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 firm had revenue of $681.90 million for the quarter, compared to analysts' expectations of $2.73 billion. During the same period in the previous year, the company posted $0.36 earnings per share. The business's quarterly revenue was up 3.3% compared to the same quarter last year. Owens & Minor has set its FY 2025 guidance at 1.020-1.070 EPS. On average, research analysts expect that Owens & Minor, Inc. will post 1.51 earnings per share for the current year.

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.