First Trust Advisors LP Cuts Holdings in Owens & Minor, Inc. (NYSE:OMI)

First Trust Advisors LP trimmed its position in shares of Owens & Minor, Inc. (NYSE:OMI - Free Report) by 19.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 167,881 shares of the company's stock after selling 41,242 shares during the period. First Trust Advisors LP owned about 0.22% of Owens & Minor worth $2,194,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of OMI. Marshall Wace LLP raised its position in Owens & Minor by 321.1% in the 4th quarter. Marshall Wace LLP now owns 73,692 shares of the company's stock worth $963,000 after purchasing an additional 56,192 shares during the period. Gabelli Funds LLC grew its stake in shares of Owens & Minor by 81.1% during the fourth quarter. Gabelli Funds LLC now owns 326,000 shares of the company's stock valued at $4,261,000 after buying an additional 146,000 shares during the last quarter. Guggenheim Capital LLC purchased a new position in shares of Owens & Minor in the fourth quarter worth about $166,000. Optimize Financial Inc bought a new stake in shares of Owens & Minor in the 4th quarter valued at about $184,000. Finally, Sterling Capital Management LLC boosted its holdings in Owens & Minor by 758.3% during the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company's stock valued at $27,000 after acquiring an additional 1,820 shares during the period. 98.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OMI has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on Owens & Minor from $14.00 to $10.00 and set an "underweight" rating for the company in a research report on Monday, March 10th. Citigroup lowered their price target on shares of Owens & Minor from $13.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, April 17th. UBS Group cut their price target on shares of Owens & Minor from $25.00 to $13.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, Robert W. Baird increased their target price on shares of Owens & Minor from $10.00 to $11.00 and gave the stock a "neutral" rating in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Owens & Minor presently has a consensus rating of "Hold" and an average target price of $12.50.

Insider Transactions at Owens & Minor

In related news, major shareholder Coliseum Capital Management, L acquired 225,000 shares of Owens & Minor stock in a transaction that occurred on Wednesday, April 9th. The stock was bought at an average price of $7.39 per share, with a total value of $1,662,750.00. Following the transaction, the insider now directly owns 11,482,955 shares in the company, valued at approximately $84,859,037.45. This represents a 2.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 2,718,412 shares of company stock valued at $24,495,308 in the last three months. 3.69% of the stock is currently owned by company insiders.

Owens & Minor Stock Up 0.4 %

OMI traded up $0.03 on Friday, hitting $7.02. The company had a trading volume of 1,798,096 shares, compared to its average volume of 1,120,141. The stock has a fifty day simple moving average of $8.13 and a 200-day simple moving average of $10.81. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. The firm has a market capitalization of $542.33 million, a P/E ratio of -10.80, a P/E/G ratio of 0.20 and a beta of 1.38. Owens & Minor, Inc. has a 52-week low of $6.07 and a 52-week high of $21.02.

Owens & Minor (NYSE:OMI - Get Free Report) last released its earnings results on Saturday, May 10th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.03. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The company's revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 earnings per share. As a group, equities analysts expect that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

Owens & Minor declared that its Board of Directors has authorized a stock repurchase plan on Friday, February 28th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 13.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

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.