Federated Hermes Inc. Trims Position in Owens & Minor, Inc. (NYSE:OMI)

Federated Hermes Inc. cut its position in Owens & Minor, Inc. (NYSE:OMI) by 56.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 172,836 shares of the company’s stock after selling 226,247 shares during the quarter. Federated Hermes Inc.’s holdings in Owens & Minor were worth $3,331,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. increased its stake in shares of Owens & Minor by 12.0% in the third quarter. Invesco Ltd. now owns 1,081,460 shares of the company’s stock worth $17,476,000 after purchasing an additional 115,995 shares in the last quarter. First Eagle Investment Management LLC purchased a new position in Owens & Minor during the third quarter valued at $2,795,000. Gotham Asset Management LLC grew its stake in Owens & Minor by 106.4% during the third quarter. Gotham Asset Management LLC now owns 33,578 shares of the company’s stock valued at $543,000 after acquiring an additional 17,310 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in Owens & Minor by 95.1% during the third quarter. Qube Research & Technologies Ltd now owns 200,739 shares of the company’s stock valued at $3,244,000 after acquiring an additional 97,847 shares in the last quarter. Finally, Gabelli Funds LLC purchased a new position in Owens & Minor during the third quarter valued at $1,899,000. 98.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OMI has been the subject of several research analyst reports. Barclays raised their target price on shares of Owens & Minor from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 21st. Leerink Partnrs reaffirmed a “market perform” rating on shares of Owens & Minor in a research note on Monday, February 26th. StockNews.com raised shares of Owens & Minor from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. TheStreet raised shares of Owens & Minor from a “d+” rating to a “c-” rating in a research note on Monday, March 4th. Finally, Citigroup increased their price objective on shares of Owens & Minor from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.29.

Insider Transactions at Owens & Minor

In other news, SVP Jonathan A. Leon sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $24.84, for a total value of $124,200.00. Following the completion of the sale, the senior vice president now owns 84,673 shares in the company, valued at approximately $2,103,277.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Michael Wayne Lowry sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $25.00, for a total value of $250,000.00. Following the transaction, the senior vice president now owns 71,654 shares of the company’s stock, valued at approximately $1,791,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan A. Leon sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $24.84, for a total transaction of $124,200.00. Following the completion of the transaction, the senior vice president now directly owns 84,673 shares in the company, valued at approximately $2,103,277.32. The disclosure for this sale can be found here. Company insiders own 3.59% of the company’s stock.

Owens & Minor Price Performance

OMI stock opened at $25.09 on Friday. Owens & Minor, Inc. has a 52 week low of $13.34 and a 52 week high of $28.35. The company has a quick ratio of 0.52, a current ratio of 1.11 and a debt-to-equity ratio of 2.05. The company has a fifty day simple moving average of $25.24 and a two-hundred day simple moving average of $21.15. The firm has a market capitalization of $1.92 billion, a P/E ratio of -46.46, a price-to-earnings-growth ratio of 0.76 and a beta of 0.43.

Owens & Minor (NYSE:OMI) last released its earnings results on Tuesday, February 20th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.03. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. Owens & Minor had a negative net margin of 0.40% and a positive return on equity of 11.62%. The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business earned $0.28 EPS. Analysts anticipate that Owens & Minor, Inc. will post 1.54 earnings per share for the current fiscal year.

Owens & Minor Company Profile

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