Insider Buying: Owens & Minor, Inc. (NYSE:OMI) Major Shareholder Buys 492,852 Shares of Stock

Key Points

• Major shareholder Coliseum Capital Management acquired 492,852 shares of Owens & Minor stock at an average price of $5.31 per share, increasing their ownership to 13,100,807 shares.
• Owens & Minor reported $0.26 earnings per share, missing analysts' consensus estimates, with revenue of $681.90 million for the quarter, compared to expectations of $2.73 billion.
• Research analysts have set varying target prices for Owens & Minor, with estimates ranging from $4.75 to $10.00, indicating a mix of ratings including underperform and strong buy.

Owens & Minor, Inc. (NYSE:OMI - Get Free Report) major shareholder Coliseum Capital Management, L bought 492,852 shares of Owens & Minor stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average cost of $5.31 per share, for a total transaction of $2,617,044.12. Following the completion of the transaction, the insider directly owned 13,100,807 shares in the company, valued at $69,565,285.17. This represents a 3.91% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, August 13th, Coliseum Capital Management, L bought 325,000 shares of Owens & Minor stock. The shares were acquired at an average cost of $5.46 per share, for a total transaction of $1,774,500.00.
• On Tuesday, August 12th, Coliseum Capital Management, L bought 720,000 shares of Owens & Minor stock. The shares were acquired at an average cost of $5.15 per share, for a total transaction of $3,708,000.00.

Owens & Minor Stock Performance

Shares of OMI stock traded up $0.08 during mid-day trading on Thursday, reaching $5.41. The stock had a trading volume of 2,571,848 shares, compared to its average volume of 1,595,907. The business's fifty day moving average is $7.67 and its 200-day moving average is $7.96. The company has a current ratio of 0.86, a quick ratio of 0.41 and a debt-to-equity ratio of 3.32. The firm has a market cap of $417.48 million, a price-to-earnings ratio of -0.35, a PEG ratio of 0.38 and a beta of 1.04. Owens & Minor, Inc. has a 1-year low of $4.56 and a 1-year high of $16.63.

Owens & Minor (NYSE:OMI - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.01). The firm had revenue of $681.90 million during the quarter, compared to analyst estimates of $2.73 billion. Owens & Minor had a negative net margin of 13.78% and a positive return on equity of 26.59%. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. On average, research analysts forecast that Owens & Minor, Inc. will post 1.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on OMI shares. JPMorgan Chase & Co. set a $10.00 target price on Owens & Minor in a research report on Monday. Bank of America reduced their target price on Owens & Minor from $7.50 to $4.75 and set an "underperform" rating on the stock in a research report on Tuesday. Robert W. Baird reduced their target price on Owens & Minor from $10.00 to $7.00 and set an "outperform" rating on the stock in a research report on Tuesday. UBS Group set a $7.00 target price on Owens & Minor in a research report on Wednesday. Finally, Baird R W raised Owens & Minor from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $8.29.

Institutional Trading of Owens & Minor

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC grew its holdings in Owens & Minor by 758.3% during the fourth 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 during the period. DekaBank Deutsche Girozentrale grew its holdings in Owens & Minor by 76.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company's stock worth $28,000 after acquiring an additional 1,356 shares during the period. Versant Capital Management Inc grew its holdings in Owens & Minor by 537.6% during the first quarter. Versant Capital Management Inc now owns 3,201 shares of the company's stock worth $29,000 after acquiring an additional 2,699 shares during the period. Parallel Advisors LLC grew 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 acquiring an additional 3,093 shares during the period. Finally, Quarry LP acquired a new stake in Owens & Minor during the first quarter worth about $34,000. 98.04% of the stock is owned by institutional investors and hedge funds.

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.

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