Insider Buying: Owens & Minor, Inc. (NYSE:OMI) Major Shareholder Purchases 160,000 Shares of Stock

Owens & Minor, Inc. (NYSE:OMI - Get Free Report) major shareholder Coliseum Capital Management, L bought 160,000 shares of the company's stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average price of $8.53 per share, for a total transaction of $1,364,800.00. Following the purchase, the insider now owns 10,784,599 shares of the company's stock, valued at approximately $91,992,629.47. This represents a 1.51 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Coliseum Capital Management, L also recently made the following trade(s):

• On Wednesday, April 9th, Coliseum Capital Management, L acquired 225,000 shares of Owens & Minor stock. The stock was purchased at an average price of $7.39 per share, with a total value of $1,662,750.00.
• On Monday, April 7th, Coliseum Capital Management, L bought 240,000 shares of Owens & Minor stock. The shares were acquired at an average price of $7.84 per share, for a total transaction of $1,881,600.00.
• On Monday, March 3rd, Coliseum Capital Management, L bought 354,901 shares of Owens & Minor stock. The stock was acquired at an average cost of $9.19 per share, with a total value of $3,261,540.19.
• On Friday, February 28th, Coliseum Capital Management, L purchased 1,738,511 shares of Owens & Minor stock. The shares were acquired at an average cost of $9.39 per share, for a total transaction of $16,324,618.29.

Owens & Minor Stock Performance

Shares of Owens & Minor stock traded down $0.10 during trading hours on Friday, reaching $6.90. 1,491,192 shares of the stock traded hands, compared to its average volume of 1,079,969. Owens & Minor, Inc. has a one year low of $6.07 and a one year high of $26.05. The firm has a market capitalization of $533.00 million, a price-to-earnings ratio of -10.62, a P/E/G ratio of 0.20 and a beta of 1.02. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The company has a 50 day moving average price of $8.44 and a 200 day moving average price of $11.79.

Owens & Minor (NYSE:OMI - Get Free Report) last announced its earnings results on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same period in the previous year, the business posted $0.69 earnings per share. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts expect that Owens & Minor, Inc. will post 1.51 earnings per share for the current fiscal year.

Owens & Minor announced that its board has approved a stock repurchase program on Friday, February 28th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 13.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Owens & Minor

Institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC increased its holdings in Owens & Minor by 758.3% in the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company's stock worth $27,000 after acquiring an additional 1,820 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Owens & Minor by 537.6% in the first quarter. Versant Capital Management Inc now owns 3,201 shares of the company's stock worth $29,000 after purchasing an additional 2,699 shares during the period. Parallel Advisors LLC boosted its position in shares of Owens & Minor by 1,387.0% in the first quarter. Parallel Advisors LLC now owns 3,316 shares of the company's stock worth $30,000 after purchasing an additional 3,093 shares during the period. Blue Trust Inc. increased its stake in shares of Owens & Minor by 57.4% in the fourth quarter. Blue Trust Inc. now owns 4,387 shares of the company's stock worth $57,000 after purchasing an additional 1,600 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Owens & Minor by 98.2% during the 4th quarter. KBC Group NV now owns 4,434 shares of the company's stock valued at $58,000 after purchasing an additional 2,197 shares during the period. 98.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OMI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price 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. Robert W. Baird boosted their price objective on shares of Owens & Minor from $10.00 to $11.00 and gave the company a "neutral" rating in a report on Monday, March 3rd. Finally, UBS Group lowered their price objective on shares of Owens & Minor from $25.00 to $13.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $13.75.

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.