Owens & Minor, Inc. (NYSE:OMI) Short Interest Update

Key Points

• Owens & Minor, Inc. experienced a **24.5% increase** in short interest in August, reaching a total of **9.2 million shares**, which constitutes **12.4%** of the company's shares being short sold.
• Major shareholder Coliseum Capital Management acquired **720,000 shares** at an average price of **$5.15**, increasing their ownership by **6.23%** to approximately **12.3 million shares** overall.
• An analyst downgrade by Bank of America reduced the target price for Owens & Minor from **$7.50 to $4.75**, while other firms have issued mixed ratings, resulting in an average rating of **"Hold"** with a consensus target price of **$7.63**.

Owens & Minor, Inc. (NYSE:OMI - Get Free Report) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 9,200,000 shares, an increase of 24.5% from the August 15th total of 7,390,000 shares. Currently, 12.4% of the company's shares are short sold. Based on an average daily volume of 1,570,000 shares, the short-interest ratio is presently 5.9 days. Based on an average daily volume of 1,570,000 shares, the short-interest ratio is presently 5.9 days. Currently, 12.4% of the company's shares are short sold.

Insider Activity at Owens & Minor

In other Owens & Minor news, major shareholder Coliseum Capital Management, L purchased 720,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were bought at an average price of $5.15 per share, for a total transaction of $3,708,000.00. Following the completion of the acquisition, the insider owned 12,282,955 shares in the company, valued at approximately $63,257,218.25. This trade represents a 6.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 1,537,852 shares of company stock worth $8,099,544 in the last quarter. 3.69% of the stock is currently owned by insiders.

Institutional Trading of Owens & Minor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in Owens & Minor by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 45,360 shares of the company's stock worth $410,000 after acquiring an additional 15,898 shares during the period. GAMMA Investing LLC increased its holdings in shares of Owens & Minor by 713.4% in the 1st quarter. GAMMA Investing LLC now owns 9,265 shares of the company's stock worth $84,000 after buying an additional 8,126 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Owens & Minor by 171.2% in the 1st quarter. AQR Capital Management LLC now owns 634,914 shares of the company's stock worth $5,733,000 after buying an additional 400,833 shares during the last quarter. Paradigm Capital Management Inc. NY bought a new position in shares of Owens & Minor in the 1st quarter worth $542,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Owens & Minor in the 1st quarter worth $2,954,000. Institutional investors own 98.04% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OMI. Robert W. Baird dropped their target price on shares of Owens & Minor from $10.00 to $7.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Baird R W raised shares of Owens & Minor from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 8th. Bank of America decreased their price target 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. UBS Group set a $7.00 price target on shares of Owens & Minor in a research note on Wednesday, August 13th. Finally, Citigroup reaffirmed a "buy" rating and issued a $7.00 price target (down from $11.00) on shares of Owens & Minor in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $7.63.

Owens & Minor Stock Up 8.8%

OMI opened at $5.40 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 3.32. The stock has a market cap of $416.71 million, a price-to-earnings ratio of -0.35 and a beta of 1.03. Owens & Minor has a twelve month low of $4.56 and a twelve month high of $16.47. The company's 50-day moving average price is $6.24 and its two-hundred day moving average price is $7.35.

Owens & Minor (NYSE:OMI - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.01). The business had revenue of $681.90 million for the quarter, compared to analysts' expectations of $2.73 billion. Owens & Minor had a negative net margin of 13.78% and a positive return on equity of 26.59%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. Owens & Minor has set its FY 2025 guidance at 1.020-1.070 EPS. As a group, equities analysts expect that Owens & Minor will post 1.51 earnings per share for the current year.

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.

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