VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Shares in Owens & Minor, Inc. $OMI

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Owens & Minor, Inc. (NYSE:OMI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 36,528 shares of the company’s stock, valued at approximately $332,000.

A number of other institutional investors have also recently bought and sold shares of OMI. Coliseum Capital Management LLC boosted its position in Owens & Minor by 122.0% during the first quarter. Coliseum Capital Management LLC now owns 10,624,599 shares of the company’s stock valued at $95,940,000 after purchasing an additional 5,838,635 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Owens & Minor by 19.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,752,960 shares of the company’s stock valued at $24,859,000 after purchasing an additional 447,917 shares during the last quarter. Federated Hermes Inc. acquired a new stake in Owens & Minor during the first quarter valued at $3,870,000. Nuveen LLC acquired a new stake in Owens & Minor during the first quarter valued at $3,729,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Owens & Minor by 133.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 703,050 shares of the company’s stock valued at $6,349,000 after purchasing an additional 401,472 shares during the last quarter. Institutional investors and hedge funds own 98.04% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Coliseum Capital Management, L bought 492,852 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average cost of $5.31 per share, with a total value of $2,617,044.12. Following the completion of the transaction, the insider directly owned 13,100,807 shares in the company, valued at $69,565,285.17. This represents a 3.91% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought 1,537,852 shares of company stock worth $8,099,544 over the last 90 days. 3.69% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on OMI shares. Robert W. Baird cut their target price on Owens & Minor from $10.00 to $7.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Zacks Research upgraded Owens & Minor from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. UBS Group set a $7.00 target price on Owens & Minor in a report on Wednesday, August 13th. JPMorgan Chase & Co. cut their target price on Owens & Minor from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Wednesday, August 27th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Owens & Minor in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Owens & Minor has a consensus rating of “Hold” and a consensus price target of $7.63.

Owens & Minor Trading Up 4.6%

Owens & Minor stock opened at $5.50 on Friday. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.83 and a current ratio of 0.86. The business’s 50-day simple moving average is $5.07 and its 200-day simple moving average is $6.55. The firm has a market capitalization of $425.13 million, a PE ratio of -0.35 and a beta of 1.26. Owens & Minor, Inc. has a 52 week low of $4.34 and a 52 week high of $15.54.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings data on Monday, August 11th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The business had revenue of $681.90 million during the quarter, compared to the consensus estimate of $2.73 billion. Owens & Minor had a positive return on equity of 26.59% and a negative net margin of 13.78%.The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Owens & Minor has set its FY 2025 guidance at 1.020-1.070 EPS. Equities research analysts forecast that Owens & Minor, Inc. will post 1.51 earnings per share for the current year.

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.