Paradigm Capital Management Inc. NY Takes Position in Owens & Minor, Inc. $OMI

Key Points

• Paradigm Capital Management Inc. has acquired a new stake in Owens & Minor, Inc. amounting to 60,000 shares valued at approximately $542,000 during the first quarter.
• A majority of analysts have adjusted their price targets for OMI, with forecasts ranging from $4.75 to $7.00, reflecting a mix of "buy" and "sell" ratings.
• Insider trading activity has increased, with Coliseum Capital Management purchasing nearly 493,000 shares recently, increasing their ownership in the company.

Paradigm Capital Management Inc. NY bought a new position in shares of Owens & Minor, Inc. (NYSE:OMI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 60,000 shares of the company's stock, valued at approximately $542,000. Paradigm Capital Management Inc. NY owned 0.08% of Owens & Minor at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coliseum Capital Management LLC raised its position in shares of Owens & Minor by 31.3% during the fourth quarter. Coliseum Capital Management LLC now owns 4,785,964 shares of the company's stock valued at $62,553,000 after buying an additional 1,141,483 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Owens & Minor by 19.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,752,960 shares of the company's stock valued at $24,859,000 after buying an additional 447,917 shares during the last quarter. Federated Hermes Inc. bought a new stake in shares of Owens & Minor during the first quarter valued at approximately $3,870,000. Nuveen LLC bought a new stake in shares of Owens & Minor during the first quarter valued at approximately $3,729,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Owens & Minor by 133.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 703,050 shares of the company's stock valued at $6,349,000 after purchasing an additional 401,472 shares in the last quarter. Institutional investors own 98.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. 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 report on Tuesday, August 12th. Bank of America dropped their price objective on shares of Owens & Minor from $7.50 to $4.75 and set an "underperform" rating for the company in a research note on Tuesday, August 12th. Baird R W raised shares of Owens & Minor from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 8th. Citigroup reaffirmed a "buy" rating and set a $7.00 price objective (down from $11.00) on shares of Owens & Minor in a research note on Tuesday, August 12th. Finally, UBS Group set a $7.00 price objective on shares of Owens & Minor in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $7.63.

Owens & Minor Stock Down 1.4%

NYSE:OMI traded down $0.07 during mid-day trading on Thursday, reaching $5.41. The company's stock had a trading volume of 1,425,438 shares, compared to its average volume of 1,530,691. Owens & Minor, Inc. has a 1 year low of $4.56 and a 1 year high of $16.47. The stock has a fifty day moving average of $6.96 and a 200-day moving average of $7.47. The firm has a market capitalization of $417.58 million, a PE ratio of -0.35 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 data on Monday, August 11th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.01). Owens & Minor had a positive return on equity of 26.59% and a negative net margin of 13.78%.The business had revenue of $681.90 million during the quarter, compared to analysts' expectations of $2.73 billion. During the same period last year, the company earned $0.36 earnings per share. The firm's 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. Equities research analysts forecast that Owens & Minor, Inc. will post 1.51 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Coliseum Capital Management, L bought 720,000 shares of Owens & Minor stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $5.15 per share, for a total transaction of $3,708,000.00. Following the completion of the acquisition, the insider owned 12,282,955 shares of the company's stock, valued at $63,257,218.25. This trade represents a 6.23% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have bought 1,537,852 shares of company stock valued at $8,099,544 in the last ninety days. Insiders own 3.69% of the company's stock.

About Owens & Minor

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.