JPMorgan Chase & Co. Raises Stock Position in Owens & Minor, Inc. (NYSE:OMI)

JPMorgan Chase & Co. grew its stake in Owens & Minor, Inc. (NYSE:OMI - Free Report) by 29.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 488,497 shares of the company's stock after acquiring an additional 111,667 shares during the period. JPMorgan Chase & Co. owned 0.63% of Owens & Minor worth $6,385,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in Owens & Minor by 57.4% in the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company's stock worth $57,000 after acquiring an additional 1,600 shares in the last quarter. KBC Group NV grew its stake in Owens & Minor by 98.2% in the 4th quarter. KBC Group NV now owns 4,434 shares of the company's stock worth $58,000 after acquiring an additional 2,197 shares in the last quarter. Inspire Advisors LLC grew its stake in Owens & Minor by 11.2% in the 4th quarter. Inspire Advisors LLC now owns 15,350 shares of the company's stock worth $201,000 after acquiring an additional 1,548 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Owens & Minor in the 4th quarter worth about $256,000. Finally, Wealthfront Advisers LLC bought a new position in Owens & Minor in the 4th quarter worth about $257,000. 98.04% of the stock is currently owned by institutional investors.

Owens & Minor Stock Up 4.8 %

OMI traded up $0.31 during trading on Wednesday, hitting $6.78. The stock had a trading volume of 133,033 shares, compared to its average volume of 1,101,076. The company has a market capitalization of $523.79 million, a PE ratio of -10.43, a PEG ratio of 0.20 and a beta of 1.02. Owens & Minor, Inc. has a twelve month low of $6.07 and a twelve month high of $25.82. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.45 and a current ratio of 1.09. The stock has a 50 day simple moving average of $8.21 and a two-hundred day simple moving average of $11.38.

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

Owens & Minor declared that its Board of Directors has initiated a stock buyback program on Friday, February 28th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 13.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Owens & Minor news, major shareholder Coliseum Capital Management, L bought 225,000 shares of Owens & Minor stock in a transaction that occurred on Wednesday, April 9th. The stock was purchased at an average price of $7.39 per share, with a total value of $1,662,750.00. Following the completion of the acquisition, the insider now directly owns 11,482,955 shares in the company, valued at approximately $84,859,037.45. This trade represents a 2.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders purchased 2,718,412 shares of company stock valued at $24,495,308. Insiders own 3.69% of the company's stock.

Analyst Upgrades and Downgrades

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

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.