Coliseum Capital Management, L Acquires 720,000 Shares of Owens & Minor, Inc. (NYSE:OMI) Stock

Owens & Minor, Inc. (NYSE:OMI) major shareholder Coliseum Capital Management, L purchased 720,000 shares of Owens & Minor stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average price of $5.15 per share, for a total transaction of $3,708,000.00. Following the transaction, the insider directly owned 12,282,955 shares of the company’s stock, valued at $63,257,218.25. This trade represents a 6.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Coliseum Capital Management, L also recently made the following trade(s):

• On Thursday, August 14th, Coliseum Capital Management, L purchased 492,852 shares of Owens & Minor stock. The shares were bought at an average price of $5.31 per share, for a total transaction of $2,617,044.12.
• On Wednesday, August 13th, Coliseum Capital Management, L purchased 325,000 shares of Owens & Minor stock. The shares were bought at an average price of $5.46 per share, for a total transaction of $1,774,500.00.

Owens & Minor Trading Up 4.8%

Shares of NYSE OMI opened at $5.66 on Friday. The firm’s 50 day moving average price is $7.62 and its 200-day moving average price is $7.89. The company has a market cap of $437.18 million, a PE ratio of -0.36, a P/E/G ratio of 0.38 and a beta of 1.04. Owens & Minor, Inc. has a 52-week low of $4.56 and a 52-week high of $16.63. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.41 and a current ratio of 0.86.

Owens & Minor (NYSE:OMI) last issued its earnings results on Monday, August 11th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). The firm 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 quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. On average, equities research analysts expect that Owens & Minor, Inc. will post 1.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Baird R W upgraded shares of Owens & Minor from a “hold” rating to a “strong-buy” rating in a report on Friday, August 8th. UBS Group set a $7.00 price objective on shares of Owens & Minor in a report on Wednesday. JPMorgan Chase & Co. set a $10.00 price objective on shares of Owens & Minor in a report on Monday. Citigroup restated a “buy” rating and issued a $7.00 price objective (down previously from $11.00) on shares of Owens & Minor in a report on Tuesday. Finally, Robert W. Baird cut their price objective on shares of Owens & Minor from $10.00 to $7.00 and set an “outperform” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Owens & Minor presently has an average rating of “Hold” and a consensus price target of $8.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Owens & Minor by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 45,360 shares of the company’s stock worth $410,000 after buying an additional 15,898 shares in the last quarter. GAMMA Investing LLC lifted its position in Owens & Minor by 713.4% during the first quarter. GAMMA Investing LLC now owns 9,265 shares of the company’s stock valued at $84,000 after purchasing an additional 8,126 shares during the period. Cetera Investment Advisers bought a new position in Owens & Minor during the fourth quarter valued at approximately $140,000. Coliseum Capital Management LLC lifted its position in Owens & Minor by 31.3% during the fourth quarter. Coliseum Capital Management LLC now owns 4,785,964 shares of the company’s stock valued at $62,553,000 after purchasing an additional 1,141,483 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Owens & Minor by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,930 shares of the company’s stock valued at $561,000 after purchasing an additional 1,662 shares during the period. Institutional investors own 98.04% of the company’s stock.

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.