Renaissance Technologies LLC Sells 90,000 Shares of Owens & Minor, Inc. (NYSE:OMI)

Renaissance Technologies LLC reduced its holdings in Owens & Minor, Inc. (NYSE:OMI - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,078,100 shares of the company's stock after selling 90,000 shares during the period. Renaissance Technologies LLC owned approximately 1.40% of Owens & Minor worth $14,091,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Blue Trust Inc. grew its position in 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 buying an additional 1,600 shares in the last quarter. KBC Group NV lifted its position in Owens & Minor by 98.2% in the fourth quarter. KBC Group NV now owns 4,434 shares of the company's stock worth $58,000 after purchasing an additional 2,197 shares during the period. Inspire Advisors LLC increased its holdings in Owens & Minor by 11.2% in the 4th quarter. Inspire Advisors LLC now owns 15,350 shares of the company's stock valued at $201,000 after buying an additional 1,548 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Owens & Minor during the 4th quarter worth about $256,000. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Owens & Minor during the 4th quarter valued at about $257,000. 98.04% of the stock is owned by institutional investors.

Owens & Minor Trading Up 2.6 %

Owens & Minor stock traded up $0.18 during mid-day trading on Friday, hitting $6.95. The stock had a trading volume of 1,174,379 shares, compared to its average volume of 1,101,694. The stock has a market capitalization of $536.54 million, a PE ratio of -10.68, a P/E/G ratio of 0.20 and a beta of 1.02. Owens & Minor, Inc. has a 12 month low of $6.07 and a 12 month high of $25.82. The company has a current ratio of 1.09, a quick ratio of 0.45 and a debt-to-equity ratio of 2.11. The stock has a 50-day simple moving average of $8.26 and a two-hundred day simple moving average of $11.47.

Owens & Minor (NYSE:OMI - Get Free Report) last issued its quarterly earnings results on Friday, February 28th. The company reported $0.55 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.68 billion. During the same quarter in the previous year, the company earned $0.69 EPS. Owens & Minor's revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Owens & Minor announced that its board has initiated a stock repurchase plan on Friday, February 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 13.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OMI. Robert W. Baird upped their price objective on 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. dropped their target price on shares of Owens & Minor from $14.00 to $10.00 and set an "underweight" rating for the company in a research report on Monday, March 10th. Citigroup dropped their price objective on shares of Owens & Minor from $13.00 to $11.00 and set a "buy" rating for the company in a report on Thursday. Finally, UBS Group decreased their price target on Owens & Minor from $25.00 to $13.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $12.50.

Insider Activity at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L purchased 1,738,511 shares of the company's stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $9.39 per share, with a total value of $16,324,618.29. Following the completion of the transaction, the insider now owns 9,469,698 shares of the company's stock, valued at $88,920,464.22. The trade was a 22.49 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders purchased 2,718,412 shares of company stock valued at $24,495,308. Insiders own 3.69% of the company's stock.

Owens & Minor Company Profile

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.