Russell Investments Group Ltd. Reduces Position 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. reduced its stake in Owens & Minor, Inc. (NYSE:OMI - Free Report) by 96.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,205 shares of the company's stock after selling 186,287 shares during the period. Russell Investments Group Ltd.'s holdings in Owens & Minor were worth $53,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Versant Capital Management Inc raised its stake in Owens & Minor by 537.6% during the 1st quarter. Versant Capital Management Inc now owns 3,201 shares of the company's stock worth $29,000 after buying an additional 2,699 shares during the period. Parallel Advisors LLC raised 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 buying an additional 3,093 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Owens & Minor in the first quarter valued at $55,000. GAMMA Investing LLC grew its holdings 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 valued at $84,000 after buying an additional 8,126 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Owens & Minor during the first quarter worth about $96,000. Institutional investors own 98.04% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Coliseum Capital Management, L acquired 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, 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 approximately $63,257,218.25. This trade represents a 6.23% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 1,537,852 shares of company stock worth $8,099,544 over the last three months. 3.69% of the stock is currently owned by corporate insiders.

Owens & Minor Stock Performance

Shares of NYSE:OMI traded down $0.06 during midday trading on Wednesday, reaching $5.48. The company had a trading volume of 2,002,962 shares, compared to its average volume of 1,852,487. The stock has a market cap of $422.89 million, a P/E ratio of -0.35 and a beta of 1.03. The company's 50 day moving average price is $6.61 and its 200 day moving average price is $7.42. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 3.32. Owens & Minor, Inc. has a 52-week low of $4.56 and a 52-week high of $16.47.

Owens & Minor (NYSE:OMI - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). The company had revenue of $681.90 million during the quarter, compared to the consensus estimate 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 was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. Owens & Minor has set its FY 2025 guidance at 1.020-1.070 EPS. As a group, sell-side analysts anticipate that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Bank of America cut their price target on 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 Owens & Minor from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. decreased their price target on Owens & Minor from $7.00 to $6.00 and set an "underweight" rating for the company in a report on Wednesday, August 27th. UBS Group set a $7.00 price target on Owens & Minor in a research report on Wednesday, August 13th. Finally, Zacks Research downgraded shares of Owens & Minor from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $7.63.

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.