LPL Financial LLC Purchases New Stake in Owens & Minor, Inc. (NYSE:OMI)

LPL Financial LLC bought a new position in shares of Owens & Minor, Inc. (NYSE:OMI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 47,195 shares of the company's stock, valued at approximately $617,000. LPL Financial LLC owned approximately 0.06% of Owens & Minor at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Inspire Advisors LLC grew its position in shares of Owens & Minor by 11.2% during the fourth quarter. Inspire Advisors LLC now owns 15,350 shares of the company's stock worth $201,000 after acquiring an additional 1,548 shares during the last quarter. Blue Trust Inc. grew its position in shares of Owens & Minor by 57.4% during the fourth quarter. Blue Trust Inc. now owns 4,387 shares of the company's stock worth $57,000 after acquiring an additional 1,600 shares during the last quarter. KBC Group NV grew its position in shares of Owens & Minor by 98.2% during the fourth quarter. KBC Group NV now owns 4,434 shares of the company's stock worth $58,000 after acquiring an additional 2,197 shares during the last quarter. Linden Thomas Advisory Services LLC grew its position in shares of Owens & Minor by 16.3% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 26,302 shares of the company's stock worth $344,000 after acquiring an additional 3,688 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Owens & Minor by 6.5% during the third quarter. Franklin Resources Inc. now owns 61,223 shares of the company's stock worth $961,000 after acquiring an additional 3,743 shares during the last quarter. 98.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. 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. Robert W. Baird lifted their price objective on shares of Owens & Minor from $10.00 to $11.00 and gave the company a "neutral" rating in a research report on Monday, March 3rd. Citigroup reduced their target price on Owens & Minor from $13.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. reduced their target price on Owens & Minor from $14.00 to $10.00 and set an "underweight" rating for the company in a report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Owens & Minor currently has an average rating of "Hold" and a consensus price target of $12.50.

Owens & Minor Stock Up 2.0 %

Owens & Minor stock traded up $0.14 during midday trading on Tuesday, hitting $7.00. 1,268,714 shares of the stock were exchanged, compared to its average volume of 1,117,637. Owens & Minor, Inc. has a 1 year low of $6.07 and a 1 year high of $25.49. The firm has a market cap of $540.40 million, a P/E ratio of -10.76, a P/E/G ratio of 0.20 and a beta of 1.02. 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 company has a 50 day moving average price of $8.19 and a two-hundred day moving average price of $11.15.

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

Owens & Minor announced that its board has authorized a stock repurchase program 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 shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Owens & Minor

In related news, major shareholder Coliseum Capital Management, L purchased 160,000 shares of Owens & Minor stock in a transaction dated Thursday, April 3rd. The stock was bought at an average cost of $8.53 per share, with a total value of $1,364,800.00. Following the purchase, the insider now owns 10,784,599 shares in the company, valued at approximately $91,992,629.47. The trade was a 1.51 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired a total of 2,718,412 shares of company stock valued at $24,495,308 in the last quarter. Insiders own 3.69% of the company's stock.

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.