Russell Investments Group Ltd. Lowers Stock Holdings in Owens & Minor, Inc. $OMI

Key Points

• Russell Investments Group Ltd. significantly reduced its stake in Owens & Minor, Inc. by 96.8%, leaving it with only 6,205 shares valued at approximately $53,000 following the sale of 186,287 shares.
• Multiple hedge funds increased their positions in OMI, with Price T Rowe Associates acquiring an additional 2,986 shares, and Voya Investment Management adding 12,672 shares, reflecting a trend of institutional investment.
• Analysts are mixed in their outlook for Owens & Minor, with target price reductions from firms like Bank of America and Citigroup, which have revised their price targets down to $4.75 and $7.00 respectively, while maintaining varying ratings from "buy" to "sell."

Russell Investments Group Ltd. decreased its position in Owens & Minor, Inc. (NYSE:OMI - Free Report) by 96.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,205 shares of the company's stock after selling 186,287 shares during the quarter. Russell Investments Group Ltd.'s holdings in Owens & Minor were worth $53,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OMI. Versant Capital Management Inc boosted its holdings in Owens & Minor by 537.6% during the 1st quarter. Versant Capital Management Inc now owns 3,201 shares of the company's stock valued at $29,000 after acquiring an additional 2,699 shares during the period. Parallel Advisors LLC increased its position in shares of 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 acquiring an additional 3,093 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Owens & Minor during the first quarter worth $55,000. GAMMA Investing LLC increased its position in shares of 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 acquiring an additional 8,126 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Owens & Minor during the first quarter worth $96,000. 98.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Coliseum Capital Management, L acquired 720,000 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were bought at an average price of $5.15 per share, with a total value of $3,708,000.00. Following the completion of the acquisition, the insider owned 12,282,955 shares in the company, valued at $63,257,218.25. This trade represents a 6.23% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 1,537,852 shares of company stock worth $8,099,544 over the last 90 days. Company insiders own 3.69% of the company's stock.

Analysts Set New Price Targets

OMI has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on Owens & Minor from $7.00 to $6.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 27th. Baird R W raised Owens & Minor from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 8th. UBS Group set a $7.00 price objective on Owens & Minor in a research report on Wednesday, August 13th. Zacks Research lowered Owens & Minor from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 2nd. Finally, Bank of America cut their price objective on Owens & Minor from $7.50 to $4.75 and set an "underperform" rating on the stock in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $7.63.

Owens & Minor Stock Performance

Shares of OMI stock traded up $0.11 during mid-day trading on Tuesday, hitting $5.49. 1,045,111 shares of the stock were exchanged, compared to its average volume of 1,541,261. The stock's fifty day simple moving average is $6.76 and its two-hundred day simple moving average is $7.45. The stock has a market capitalization of $423.66 million, a price-to-earnings ratio of -0.34 and a beta of 1.03. Owens & Minor, Inc. has a 12-month low of $4.56 and a 12-month high of $16.47. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.83 and a current ratio of 0.86.

Owens & Minor (NYSE:OMI - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $681.90 million for the quarter, compared to analysts' expectations of $2.73 billion. Owens & Minor had a positive return on equity of 26.59% and a negative net margin of 13.78%.The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 EPS. Owens & Minor has set its FY 2025 guidance at 1.020-1.070 EPS. On average, analysts forecast that Owens & Minor, Inc. will post 1.51 EPS 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.