Public Sector Pension Investment Board Grows Holdings in Owens & Minor, Inc. $OMI

Key Points

• Public Sector Pension Investment Board increased its holdings in Owens & Minor, Inc. (OMI) by 27.3%, owning approximately 0.30% of the company valued at $2,117,000 as of the latest SEC filing.
• Owens & Minor missed analysts' earnings estimates for the latest quarter, reporting $0.26 EPS against a consensus of $0.27, with revenue also falling short at $681.90 million compared to expectations of $2.73 billion.
• Analysts have set a variety of target prices for Owens & Minor, with recent downgrades from $10.00 to $7.00 and $7.50 to $4.75, reflecting a cautious outlook on the stock.

Public Sector Pension Investment Board increased its position in shares of Owens & Minor, Inc. (NYSE:OMI - Free Report) by 27.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 234,393 shares of the company's stock after purchasing an additional 50,275 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.30% of Owens & Minor worth $2,117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OMI. Sterling Capital Management LLC boosted its holdings in Owens & Minor by 758.3% during the fourth quarter. Sterling Capital Management LLC now owns 2,060 shares of the company's stock worth $27,000 after purchasing an additional 1,820 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Owens & Minor by 537.6% during the first 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 during the last quarter. Parallel Advisors LLC boosted its holdings in Owens & Minor by 1,387.0% during the first quarter. Parallel Advisors LLC now owns 3,316 shares of the company's stock worth $30,000 after purchasing an additional 3,093 shares during the last quarter. Headlands Technologies LLC purchased a new position in Owens & Minor during the first quarter worth about $55,000. Finally, GAMMA Investing LLC boosted its holdings in Owens & Minor by 713.4% during the first quarter. GAMMA Investing LLC now owns 9,265 shares of the company's stock worth $84,000 after purchasing an additional 8,126 shares during the last quarter. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

Owens & Minor Stock Performance

Shares of OMI stock opened at $5.3450 on Thursday. The stock has a market capitalization of $412.85 million, a P/E ratio of -0.34 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. The firm's 50 day moving average is $7.47 and its 200 day moving average is $7.70. Owens & Minor, Inc. has a 12 month low of $4.56 and a 12 month high of $16.63.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Baird R W upgraded shares of Owens & Minor from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 8th. UBS Group set a $7.00 target price on shares of Owens & Minor in a research note on Wednesday, August 13th. Robert W. Baird dropped their target price on shares of Owens & Minor from $10.00 to $7.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Bank of America dropped their target price on shares of Owens & Minor from $7.50 to $4.75 and set an "underperform" rating on the stock in a research note on Tuesday, August 12th. Finally, Citigroup reiterated a "buy" rating and issued a $7.00 target price (down from $11.00) on shares of Owens & Minor in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $8.29.

Insider Transactions at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L bought 492,852 shares of the stock in a transaction 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 purchase, the insider directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have purchased 1,537,852 shares of company stock valued at $8,099,544. Corporate 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.

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