Gabelli Funds LLC Has $4.26 Million Stock Position in Owens & Minor, Inc. (NYSE:OMI)

Gabelli Funds LLC grew its holdings in Owens & Minor, Inc. (NYSE:OMI - Free Report) by 81.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 326,000 shares of the company's stock after purchasing an additional 146,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.42% of Owens & Minor worth $4,261,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of OMI. Sterling Capital Management LLC boosted its stake in 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 acquiring an additional 1,820 shares during the last quarter. Blue Trust Inc. boosted its stake in Owens & Minor by 57.4% during 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 during the last quarter. KBC Group NV boosted its stake in Owens & Minor by 98.2% during 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 during the last quarter. Guggenheim Capital LLC bought a new position in Owens & Minor during the 4th quarter worth approximately $166,000. Finally, Optimize Financial Inc bought a new position in Owens & Minor during the 4th quarter worth approximately $184,000. Institutional investors own 98.04% of the company's stock.

Insider Activity

In other news, major shareholder Coliseum Capital Management, L bought 1,738,511 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $9.39 per share, for a total transaction of $16,324,618.29. Following the purchase, the insider now owns 9,469,698 shares of the company's stock, valued at approximately $88,920,464.22. This trade represents a 22.49 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have bought 2,718,412 shares of company stock valued at $24,495,308. 3.69% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OMI. UBS Group reduced 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 lifted their price target 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. JPMorgan Chase & Co. cut their price target 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. Finally, Citigroup cut their price target 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. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $12.50.

Owens & Minor Stock Up 3.7 %

Shares of NYSE OMI traded up $0.24 during midday trading on Wednesday, reaching $6.71. The company's stock had a trading volume of 258,982 shares, compared to its average volume of 1,628,134. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11. Owens & Minor, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $25.72. The stock has a market capitalization of $518.38 million, a price-to-earnings ratio of -10.32, a PEG ratio of 0.20 and a beta of 1.02. The stock has a 50 day simple moving average of $8.21 and a 200-day simple moving average of $11.38.

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

Owens & Minor announced that its Board of Directors has initiated a stock buyback plan on Friday, February 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 13.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

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.