Wells Fargo & Company MN Increases Position in Owens & Minor, Inc. (NYSE:OMI)

Wells Fargo & Company MN boosted its holdings in Owens & Minor, Inc. (NYSE:OMI) by 24.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,039 shares of the company’s stock after purchasing an additional 9,484 shares during the period. Wells Fargo & Company MN owned about 0.06% of Owens & Minor worth $628,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Blue Trust Inc. boosted its stake in 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 acquiring an additional 1,600 shares during the last quarter. KBC Group NV increased its holdings in 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 buying an additional 2,197 shares during the last quarter. Inspire Advisors LLC lifted its holdings in Owens & Minor by 11.2% during the 4th quarter. Inspire Advisors LLC now owns 15,350 shares of the company’s stock worth $201,000 after buying an additional 1,548 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Owens & Minor in the 4th quarter valued at approximately $256,000. Finally, Wealthfront Advisers LLC acquired a new position in Owens & Minor in the fourth quarter worth $257,000. 98.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Transactions at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L purchased 1,738,511 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $9.39 per share, for a total transaction of $16,324,618.29. Following the completion of the acquisition, the insider now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased a total of 2,718,412 shares of company stock valued at $24,495,308 in the last three months. 3.69% of the stock is currently owned by corporate insiders.

Owens & Minor Stock Performance

Shares of NYSE OMI opened at $7.46 on Friday. Owens & Minor, Inc. has a 1 year low of $6.07 and a 1 year high of $23.87. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.45 and a current ratio of 1.09. The stock has a fifty day moving average price of $8.23 and a two-hundred day moving average price of $11.03. The firm has a market cap of $575.94 million, a P/E ratio of -11.47, a PEG ratio of 0.20 and a beta of 1.02.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings data on Friday, February 28th. The company reported $0.55 earnings per share for the quarter, beating 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 analyst estimates of $2.68 billion. During the same quarter last year, the firm posted $0.69 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Research analysts forecast that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

Owens & Minor declared that its Board of Directors has authorized a share repurchase plan on Friday, February 28th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to buy up to 13.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Owens & Minor 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.