GAMMA Investing LLC Purchases 82,524 Shares of Owens & Minor, Inc. (NYSE:OMI)

GAMMA Investing LLC grew its position in shares of Owens & Minor, Inc. (NYSE:OMI) by 7,245.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,663 shares of the company’s stock after buying an additional 82,524 shares during the period. GAMMA Investing LLC owned approximately 0.11% of Owens & Minor worth $755,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Sterling Capital Management LLC boosted its stake in Owens & Minor by 758.3% in the fourth quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock valued at $27,000 after buying an additional 1,820 shares in the last quarter. Versant Capital Management Inc increased its holdings in Owens & Minor by 537.6% in the first quarter. Versant Capital Management Inc now owns 3,201 shares of the company’s stock worth $29,000 after purchasing an additional 2,699 shares in the last quarter. Blue Trust Inc. increased its holdings in Owens & Minor by 57.4% in the fourth quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock worth $57,000 after purchasing an additional 1,600 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Owens & Minor during the fourth quarter valued at approximately $140,000. Finally, Guggenheim Capital LLC bought a new stake in shares of Owens & Minor during the fourth quarter valued at approximately $166,000. Institutional investors own 98.04% of the company’s stock.

Insiders Place Their Bets

In other Owens & Minor news, major shareholder Coliseum Capital Management, L acquired 240,000 shares of the business’s stock in a transaction on Monday, April 7th. The shares were bought at an average price of $7.84 per share, with a total value of $1,881,600.00. Following the transaction, the insider now directly owns 11,152,955 shares of the company’s stock, valued at $87,439,167.20. The trade was a 2.20% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders have bought a total of 625,000 shares of company stock valued at $4,909,150 in the last quarter. 3.69% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on OMI shares. Citigroup cut their price objective on Owens & Minor from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. 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 report on Monday, March 10th. Finally, Robert W. Baird increased their target price on Owens & Minor from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, June 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Owens & Minor presently has a consensus rating of “Hold” and an average target price of $12.33.

Owens & Minor Price Performance

Shares of NYSE:OMI opened at $7.52 on Wednesday. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.41. Owens & Minor, Inc. has a 1-year low of $6.07 and a 1-year high of $17.30. The company has a market capitalization of $580.92 million, a PE ratio of -1.58, a PEG ratio of 0.35 and a beta of 1.31. The business has a fifty day moving average price of $7.11 and a 200-day moving average price of $9.73.

Owens & Minor (NYSE:OMI) last announced its earnings results on Saturday, May 10th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. Owens & Minor had a positive return on equity of 17.09% and a negative net margin of 3.41%. During the same period in the previous year, the business earned $0.19 EPS. Owens & Minor’s revenue was up .7% on a year-over-year basis. As a group, equities analysts expect that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

Owens & Minor announced that its Board of Directors has authorized a stock buyback program on Friday, February 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 13.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management 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.