Northern Trust Corp Purchases 116,754 Shares of Owens & Minor, Inc. (NYSE:OMI)

Northern Trust Corp increased its stake in Owens & Minor, Inc. (NYSE:OMI) by 13.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 968,101 shares of the company’s stock after purchasing an additional 116,754 shares during the quarter. Northern Trust Corp owned approximately 1.26% of Owens & Minor worth $12,653,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Owens & Minor by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 8,915,756 shares of the company’s stock worth $116,529,000 after acquiring an additional 107,092 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Owens & Minor by 13.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,305,043 shares of the company’s stock worth $30,127,000 after acquiring an additional 276,807 shares in the last quarter. Kennedy Capital Management LLC grew its position in Owens & Minor by 15.5% in the fourth quarter. Kennedy Capital Management LLC now owns 1,216,859 shares of the company’s stock worth $15,904,000 after acquiring an additional 163,184 shares in the last quarter. Bank of New York Mellon Corp grew its position in Owens & Minor by 6.0% in the fourth quarter. Bank of New York Mellon Corp now owns 622,921 shares of the company’s stock worth $8,142,000 after acquiring an additional 35,105 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Owens & Minor by 29.6% in the fourth quarter. JPMorgan Chase & Co. now owns 488,497 shares of the company’s stock worth $6,385,000 after acquiring an additional 111,667 shares in the last quarter. Institutional investors own 98.04% of the company’s stock.

Owens & Minor Stock Performance

Owens & Minor stock opened at $7.41 on Friday. The company’s 50-day moving average price is $7.87 and its 200-day moving average price is $10.60. Owens & Minor, Inc. has a twelve month low of $6.07 and a twelve month high of $19.13. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The company has a market cap of $572.69 million, a PE ratio of -11.40, a price-to-earnings-growth ratio of 0.20 and a beta of 1.38.

Owens & Minor (NYSE:OMI) last released its quarterly earnings results on Saturday, May 10th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 earnings per share. On average, equities research analysts forecast that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

Owens & Minor announced that its Board of Directors has initiated a share buyback program on Friday, February 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 13.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Owens & Minor news, major shareholder Coliseum Capital Management, L acquired 354,901 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $9.19 per share, with a total value of $3,261,540.19. Following the acquisition, the insider now directly owns 9,824,599 shares of the company’s stock, valued at approximately $90,288,064.81. The trade was a 3.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders bought a total of 2,718,412 shares of company stock worth $24,495,308 in the last 90 days. 3.69% of the stock is owned by corporate insiders.

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.