Owens & Minor, Inc. (NYSE:OMI) Major Shareholder Coliseum Capital Management, L Purchases 325,000 Shares

Key Points

• Coliseum Capital Management acquired a total of $1,774,500 worth of shares in Owens & Minor, purchasing 325,000 shares at an average price of $5.46, increasing its ownership by 2.65%.
• Owens & Minor's stock recently traded at $5.41, with earnings per share of $0.26 reported for the last quarter, missing estimates by $0.01, while the company anticipates 1.51 earnings per share for the current fiscal year.
• A majority of analysts have rated Owens & Minor as a "Hold," with a target price average of $8.29, while recent estimates ranged from $7.00 to $10.00.

Owens & Minor, Inc. (NYSE:OMI - Get Free Report) major shareholder Coliseum Capital Management, L acquired 325,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average cost of $5.46 per share, with a total value of $1,774,500.00. Following the completion of the transaction, the insider owned 12,607,955 shares in the company, valued at approximately $68,839,434.30. This represents a 2.65% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large 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 Thursday, August 14th, Coliseum Capital Management, L purchased 492,852 shares of Owens & Minor stock. The stock was bought at an average cost of $5.31 per share, with a total value of $2,617,044.12.
• On Tuesday, August 12th, Coliseum Capital Management, L purchased 720,000 shares of Owens & Minor stock. The shares were purchased at an average cost of $5.15 per share, for a total transaction of $3,708,000.00.

Owens & Minor Price Performance

OMI stock traded up $0.02 during trading on Tuesday, reaching $5.47. 243,591 shares of the company 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. The stock's 50 day moving average price is $7.57 and its 200 day moving average price is $7.74. Owens & Minor, Inc. has a 52-week low of $4.56 and a 52-week high of $16.63. The company has a market cap of $422.50 million, a P/E ratio of -0.35 and a beta of 1.04.

Owens & Minor (NYSE:OMI - Get Free Report) last released its quarterly earnings results 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). Owens & Minor had a positive return on equity of 26.59% and a negative net margin of 13.78%. The firm had revenue of $681.90 million during the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the prior year, the company earned $0.36 EPS. The business's revenue was up 3.3% on a year-over-year basis. As a group, analysts predict that Owens & Minor, Inc. will post 1.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

OMI has been the topic of several recent research reports. Baird R W upgraded Owens & Minor from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. set a $10.00 target price on shares of Owens & Minor in a research note on Monday, August 11th. Citigroup reiterated a "buy" rating and set a $7.00 price target (down from $11.00) on shares of Owens & Minor in a research note on Tuesday, August 12th. UBS Group set a $7.00 price objective on shares of Owens & Minor in a research report on Wednesday, August 13th. Finally, Bank of America dropped 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, August 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Owens & Minor presently has an average rating of "Hold" and an average target price of $8.29.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its holdings in Owens & Minor by 76.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company's stock valued at $28,000 after acquiring an additional 1,356 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Owens & Minor by 4.0% in the fourth 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 during the last quarter. Sterling Capital Management LLC increased its stake in shares of Owens & Minor by 758.3% during the 4th quarter. Sterling Capital Management LLC now owns 2,060 shares of the company's stock worth $27,000 after purchasing an additional 1,820 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Owens & Minor by 25.0% during the 2nd 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 last quarter. Finally, Legal & General Group Plc grew its holdings in Owens & Minor by 0.9% during the 4th quarter. Legal & General Group Plc now owns 212,061 shares of the company's stock valued at $2,772,000 after buying an additional 1,991 shares during the last quarter. Institutional investors and hedge funds own 98.04% 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.