Wolverine Asset Management LLC Acquires 115,880 Shares of Owens & Minor, Inc. (NYSE:OMI)

Key Points

• Wolverine Asset Management LLC increased its stake in Owens & Minor, Inc. by 69.6% in Q1, owning approximately $2.55 million worth of shares after buying an additional 115,880 shares.
• Owens & Minor's quarterly earnings reported an EPS of $0.23, exceeding estimates and reflecting a 0.7% year-over-year revenue growth.
• Institutional investors control 98.04% of Owens & Minor’s stock, indicating a significant level of institutional interest in the company.

Wolverine Asset Management LLC increased its stake in Owens & Minor, Inc. (NYSE:OMI - Free Report) by 69.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 282,310 shares of the company's stock after purchasing an additional 115,880 shares during the period. Wolverine Asset Management LLC owned 0.37% of Owens & Minor worth $2,549,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its position in Owens & Minor by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 45,360 shares of the company's stock valued at $410,000 after acquiring an additional 15,898 shares during the period. GAMMA Investing LLC increased its position in Owens & Minor by 713.4% in the 1st quarter. GAMMA Investing LLC now owns 9,265 shares of the company's stock valued at $84,000 after acquiring an additional 8,126 shares during the period. Cetera Investment Advisers acquired a new stake in Owens & Minor in the 4th quarter valued at approximately $140,000. Coliseum Capital Management LLC increased its position in Owens & Minor by 31.3% in the 4th quarter. Coliseum Capital Management LLC now owns 4,785,964 shares of the company's stock valued at $62,553,000 after acquiring an additional 1,141,483 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Owens & Minor by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,930 shares of the company's stock valued at $561,000 after acquiring an additional 1,662 shares during the period. Institutional investors own 98.04% of the company's stock.

Owens & Minor Stock Down 34.5%

OMI traded down $2.45 during trading on Monday, reaching $4.65. 6,046,415 shares of the stock traded hands, compared to its average volume of 1,023,425. The stock has a market cap of $358.83 million, a price-to-earnings ratio of -0.98, a price-to-earnings-growth ratio of 0.31 and a beta of 1.04. Owens & Minor, Inc. has a fifty-two week low of $4.56 and a fifty-two week high of $16.63. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.41. The stock's 50-day simple moving average is $7.80 and its two-hundred day simple moving average is $8.13.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.01). The firm had revenue of $681.90 million for the quarter, compared to analyst estimates of $2.73 billion. Owens & Minor had a negative net margin of 3.41% and a positive return on equity of 17.09%. Owens & Minor's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. As a group, equities research analysts expect that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on OMI shares. Baird R W upgraded Owens & Minor from a "hold" rating to a "strong-buy" rating in a research report on Friday. Citigroup reduced their price objective on Owens & Minor from $13.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. UBS Group reissued a "buy" rating on shares of Owens & Minor in a research note on Monday. Robert W. Baird set a $10.00 price objective on Owens & Minor in a research note on Friday. Finally, JPMorgan Chase & Co. set a $10.00 target price on Owens & Minor in a research report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $11.60.

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.