Owens & Minor, Inc. (NYSE:OMI) Major Shareholder Buys $3,708,000.00 in Stock

Key Points

• Coliseum Capital Management acquired a total of 720,000 shares of Owens & Minor at an average cost of $5.15 per share, increasing their ownership by 6.23%.
• Owens & Minor reported a negative net margin of 13.78% for the quarter, with earnings of $0.26 per share, which missed expectations by $0.01.
• Analysts have lowered price targets for Owens & Minor, with Citigroup and others setting targets around $7.00, reflecting varying assessments of the company's financial outlook.

Owens & Minor, Inc. (NYSE:OMI - Get Free Report) major shareholder Coliseum Capital Management, L purchased 720,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $5.15 per share, with a total value of $3,708,000.00. Following the acquisition, the insider owned 12,282,955 shares of the company's stock, valued at approximately $63,257,218.25. This represents a 6.23% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 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 Thursday, August 14th, Coliseum Capital Management, L bought 492,852 shares of Owens & Minor stock. The shares were acquired at an average price of $5.31 per share, with a total value of $2,617,044.12.
• On Wednesday, August 13th, Coliseum Capital Management, L acquired 325,000 shares of Owens & Minor stock. The shares were bought at an average price of $5.46 per share, with a total value of $1,774,500.00.

Owens & Minor Trading Up 0.4%

Shares of NYSE:OMI traded up $0.02 during trading on Tuesday, reaching $5.47. 243,591 shares of the stock were exchanged, compared to its average volume of 1,515,543. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.83 and a current ratio of 0.86. Owens & Minor, Inc. has a 12-month low of $4.56 and a 12-month high of $16.63. The firm's 50-day moving average price is $7.57 and its 200 day moving average price is $7.74. The firm has a market cap of $422.50 million, a price-to-earnings ratio of -0.35 and a beta of 1.04.

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

Hedge Funds Weigh In On Owens & Minor

Several large investors have recently made changes to their positions in OMI. DekaBank Deutsche Girozentrale increased its position 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 buying an additional 1,356 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Owens & Minor by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,930 shares of the company's stock valued at $561,000 after purchasing an additional 1,662 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of 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 last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Owens & Minor by 25.0% during the second quarter. Public Employees Retirement System of Ohio now owns 9,660 shares of the company's stock worth $88,000 after purchasing an additional 1,932 shares during the period. Finally, Legal & General Group Plc raised its holdings in Owens & Minor by 0.9% in the fourth quarter. Legal & General Group Plc now owns 212,061 shares of the company's stock worth $2,772,000 after purchasing an additional 1,991 shares during the period. Institutional investors own 98.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on OMI shares. JPMorgan Chase & Co. set a $10.00 price target on shares of Owens & Minor in a research report on Monday, August 11th. Robert W. Baird reduced their price objective on shares of Owens & Minor from $10.00 to $7.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Bank of America cut their target price on shares of Owens & Minor from $7.50 to $4.75 and set an "underperform" rating for the company in a research note on Tuesday, August 12th. Citigroup reiterated a "buy" rating and set a $7.00 price target (down from $11.00) on shares of Owens & Minor in a research report on Tuesday, August 12th. Finally, UBS Group set a $7.00 target price on shares of Owens & Minor in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Owens & Minor has a consensus rating of "Hold" and an average price target of $8.29.

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.