Bank of America Corp DE Sells 213,509 Shares of Owens & Minor, Inc. (NYSE:OMI)

Bank of America Corp DE decreased its holdings in shares of Owens & Minor, Inc. (NYSE:OMI) by 58.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,989 shares of the company’s stock after selling 213,509 shares during the period. Bank of America Corp DE owned 0.20% of Owens & Minor worth $1,973,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Advisors Preferred LLC boosted its position in shares of Owens & Minor by 173.9% during the fourth quarter. Advisors Preferred LLC now owns 84,305 shares of the company’s stock valued at $1,083,000 after purchasing an additional 53,529 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Owens & Minor by 11.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 20,259 shares of the company’s stock valued at $265,000 after purchasing an additional 2,112 shares in the last quarter. Barclays PLC raised its stake in Owens & Minor by 354.8% during the third quarter. Barclays PLC now owns 133,702 shares of the company’s stock valued at $2,099,000 after buying an additional 104,305 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Owens & Minor by 6.0% during the fourth quarter. Bank of New York Mellon Corp now owns 622,921 shares of the company’s stock valued at $8,142,000 after buying an additional 35,105 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Owens & Minor by 57.4% during the fourth 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 last quarter. Institutional investors own 98.04% of the company’s stock.

Insider Activity at Owens & Minor

In related news, major shareholder Coliseum Capital Management, L purchased 240,000 shares of the business’s stock in a transaction on Monday, April 7th. The stock was acquired at an average price of $7.84 per share, with a total value of $1,881,600.00. Following the completion of the acquisition, the insider now owns 11,152,955 shares of the company’s stock, valued at approximately $87,439,167.20. This trade represents a 2.20% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders bought 625,000 shares of company stock worth $4,909,150. 3.69% of the stock is owned by insiders.

Owens & Minor Stock Up 5.2%

OMI stock opened at $6.68 on Wednesday. The stock has a market capitalization of $516.06 million, a P/E ratio of -10.28, a P/E/G ratio of 0.20 and a beta of 1.31. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. Owens & Minor, Inc. has a 1-year low of $6.07 and a 1-year high of $17.78. The business has a fifty day moving average price of $7.24 and a 200-day moving average price of $10.08.

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

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

Analyst Ratings Changes

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

About Owens & Minor

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.