Owens & Minor, Inc. (NYSE:OMI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in Owens & Minor, Inc. (NYSE:OMI) by 13.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 802,034 shares of the company’s stock after selling 124,398 shares during the quarter. Bank of New York Mellon Corp owned 1.05% of Owens & Minor worth $11,670,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Alyeska Investment Group L.P. purchased a new position in Owens & Minor in the first quarter valued at $20,483,000. Allianz Asset Management GmbH boosted its holdings in Owens & Minor by 183.8% in the first quarter. Allianz Asset Management GmbH now owns 702,890 shares of the company’s stock valued at $30,941,000 after purchasing an additional 455,191 shares during the period. Millennium Management LLC boosted its holdings in Owens & Minor by 1,863.8% in the fourth quarter. Millennium Management LLC now owns 396,487 shares of the company’s stock valued at $7,743,000 after purchasing an additional 376,297 shares during the period. Norges Bank purchased a new position in Owens & Minor in the fourth quarter valued at $6,147,000. Finally, Renaissance Technologies LLC boosted its holdings in Owens & Minor by 14.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,494,200 shares of the company’s stock valued at $29,182,000 after purchasing an additional 193,800 shares during the period. 98.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Owens & Minor

In other Owens & Minor news, SVP Michael Wayne Lowry sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $21.11, for a total value of $211,100.00. Following the transaction, the senior vice president now directly owns 80,360 shares of the company’s stock, valued at $1,696,399.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Edward A. Pesicka sold 38,780 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $19.24, for a total transaction of $746,127.20. Following the completion of the sale, the chief executive officer now directly owns 747,153 shares in the company, valued at $14,375,223.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael Wayne Lowry sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $21.11, for a total value of $211,100.00. Following the sale, the senior vice president now owns 80,360 shares of the company’s stock, valued at $1,696,399.60. The disclosure for this sale can be found here. Insiders have sold 286,635 shares of company stock valued at $5,958,129 over the last three months. 3.59% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on OMI. Citigroup decreased their target price on Owens & Minor from $23.00 to $21.00 in a report on Friday, August 4th. UBS Group lifted their price target on Owens & Minor from $22.00 to $24.00 in a report on Monday, May 8th. StockNews.com began coverage on Owens & Minor in a report on Thursday, August 17th. They set a “hold” rating for the company. Credit Suisse Group boosted their target price on Owens & Minor from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, August 8th. Finally, Robert W. Baird boosted their target price on Owens & Minor from $18.00 to $21.00 in a report on Monday, May 8th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, Owens & Minor presently has a consensus rating of “Hold” and a consensus price target of $19.83.

Owens & Minor Stock Performance

NYSE OMI opened at $17.50 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.65 and a debt-to-equity ratio of 2.58. The business’s 50 day moving average is $18.41 and its two-hundred day moving average is $15.18. Owens & Minor, Inc. has a 12-month low of $11.79 and a 12-month high of $29.39. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -13.46, a PEG ratio of 4.24 and a beta of 0.51.

Owens & Minor (NYSE:OMI) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.49 billion. Owens & Minor had a positive return on equity of 7.60% and a negative net margin of 0.97%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 EPS. Research analysts expect that Owens & Minor, Inc. will post 1.3 EPS for the current year.

About Owens & Minor

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates in two segments, Products & Healthcare Services and Patient Direct. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.