Strs Ohio Takes $537,000 Position in Owens & Minor, Inc. $OMI

Key Points

• Strs Ohio has invested approximately $537,000 in Owens & Minor, acquiring 59,500 shares during the first quarter.
• Owens & Minor's stock performance has fluctuated, with a 12-month low of $4.56 and a high of $16.38, currently trading at $5.24.
• Numerous institutional investors, including AQR Capital Management and Paradigm Capital Management, have significantly increased their stakes in Owens & Minor during the last quarter.

Strs Ohio purchased a new position in shares of Owens & Minor, Inc. (NYSE:OMI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 59,500 shares of the company's stock, valued at approximately $537,000. Strs Ohio owned about 0.08% of Owens & Minor as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Coliseum Capital Management LLC raised its position in Owens & Minor by 122.0% during the 1st quarter. Coliseum Capital Management LLC now owns 10,624,599 shares of the company's stock valued at $95,940,000 after purchasing an additional 5,838,635 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Owens & Minor by 19.4% in the 1st 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 period. Federated Hermes Inc. acquired a new position in shares of Owens & Minor in the 1st quarter valued at about $3,870,000. Nuveen LLC acquired a new position in shares of Owens & Minor in the 1st quarter valued at about $3,729,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Owens & Minor by 133.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 703,050 shares of the company's stock worth $6,349,000 after purchasing an additional 401,472 shares during the period. 98.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on OMI shares. Baird R W upgraded Owens & Minor from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 8th. Bank of America lowered their price objective on Owens & Minor from $7.50 to $4.75 and set an "underperform" rating for the company in a research report on Tuesday, August 12th. Zacks Research lowered Owens & Minor from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. lowered their price target on Owens & Minor from $7.00 to $6.00 and set an "underweight" rating for the company in a research report on Wednesday, August 27th. Finally, Robert W. Baird decreased their target price on Owens & Minor from $10.00 to $7.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. One research 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 given a Sell rating to the company. Based on data from MarketBeat.com, the company presently 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 acquired 492,852 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was bought at an average cost of $5.31 per share, with a total value of $2,617,044.12. Following the transaction, the insider directly owned 13,100,807 shares in the company, valued at approximately $69,565,285.17. This represents a 3.91% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders have acquired 1,537,852 shares of company stock worth $8,099,544. 3.69% of the stock is currently owned by corporate insiders.

Owens & Minor Price Performance

Shares of NYSE:OMI traded up $0.18 during trading on Monday, hitting $5.42. 3,362,211 shares of the stock were exchanged, compared to its average volume of 2,673,181. 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 12-month low of $4.56 and a 12-month high of $16.38. The company has a market cap of $418.64 million, a PE ratio of -0.35 and a beta of 1.03. The company has a fifty day moving average price of $6.13 and a two-hundred day moving average price of $7.26.

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 company had revenue of $681.90 million for the quarter, compared to analyst estimates of $2.73 billion. Owens & Minor had a positive return on equity of 26.59% and a negative net margin of 13.78%.The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. 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.

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.