LPL Financial LLC Buys Shares of 47,195 Owens & Minor, Inc. (NYSE:OMI)

LPL Financial LLC bought a new position in shares of Owens & Minor, Inc. (NYSE:OMI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 47,195 shares of the company’s stock, valued at approximately $617,000. LPL Financial LLC owned about 0.06% of Owens & Minor as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in OMI. Blue Trust Inc. grew its stake in shares of Owens & Minor by 57.4% during the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock valued at $57,000 after buying an additional 1,600 shares during the period. KBC Group NV boosted its stake in shares of Owens & Minor by 98.2% in the fourth quarter. KBC Group NV now owns 4,434 shares of the company’s stock valued at $58,000 after purchasing an additional 2,197 shares during the period. Inspire Advisors LLC grew its stake in shares of Owens & Minor by 11.2% during the fourth quarter. Inspire Advisors LLC now owns 15,350 shares of the company’s stock valued at $201,000 after acquiring an additional 1,548 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Owens & Minor during the 4th quarter valued at approximately $256,000. Finally, Wealthfront Advisers LLC bought a new stake in shares of Owens & Minor in the fourth quarter worth $257,000. Institutional investors and hedge funds own 98.04% of the company’s stock.

Insiders Place Their Bets

In other Owens & Minor news, major shareholder Coliseum Capital Management, L purchased 354,901 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $9.19 per share, for a total transaction of $3,261,540.19. Following the completion of the transaction, the insider now owns 9,824,599 shares in the company, valued at $90,288,064.81. The trade was a 3.75 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have purchased 2,718,412 shares of company stock worth $24,495,308. 3.69% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on OMI shares. Robert W. Baird increased their price target on shares of Owens & Minor from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, March 3rd. Citigroup reduced their target price on Owens & Minor from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. UBS Group lowered their price target on Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their price objective on Owens & Minor from $14.00 to $10.00 and set an “underweight” rating on the stock in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Owens & Minor has an average rating of “Hold” and a consensus price target of $12.50.

Owens & Minor Trading Up 2.8 %

Shares of NYSE OMI opened at $6.65 on Thursday. 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 company has a market cap of $513.59 million, a price-to-earnings ratio of -10.23, a price-to-earnings-growth 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 $25.72. The stock’s 50 day simple moving average is $8.19 and its 200 day simple moving average is $11.35.

Owens & Minor (NYSE:OMI) last announced its quarterly earnings results on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.68 billion. Owens & Minor had a positive return on equity of 14.60% and a negative net margin of 0.46%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 EPS. Equities research analysts expect that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Owens & Minor declared that its board has initiated a stock buyback plan on Friday, February 28th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 13.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.