Connor Clark & Lunn Investment Management Ltd. Grows Position in Owens & Minor, Inc. $OMI

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Owens & Minor, Inc. (NYSE:OMI) by 42.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,000,965 shares of the company’s stock after buying an additional 297,915 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Owens & Minor were worth $9,109,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of OMI. AQR Capital Management LLC lifted its holdings in shares of Owens & Minor by 171.2% in the 1st quarter. AQR Capital Management LLC now owns 634,914 shares of the company’s stock worth $5,733,000 after acquiring an additional 400,833 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Owens & Minor by 43.9% during the first quarter. Goldman Sachs Group Inc. now owns 576,799 shares of the company’s stock worth $5,208,000 after purchasing an additional 175,866 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in shares of Owens & Minor during the second quarter worth $900,000. Paradigm Capital Management Inc. NY acquired a new stake in shares of Owens & Minor in the first quarter valued at $542,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Owens & Minor in the first quarter valued at $2,954,000. Hedge funds and other institutional investors own 98.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OMI. Robert W. Baird lowered their target price on Owens & Minor from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. Baird R W raised shares of Owens & Minor from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 8th. JPMorgan Chase & Co. lowered their price objective on shares of Owens & Minor from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Wednesday, August 27th. Zacks Research raised shares of Owens & Minor from a “strong sell” rating to a “hold” rating in a research note on Friday, October 10th. Finally, Citigroup reiterated a “buy” rating and set a $7.00 target price (down from $11.00) on shares of Owens & Minor in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Owens & Minor currently has an average rating of “Hold” and a consensus price target of $6.35.

Insider Buying and Selling

In other Owens & Minor news, major shareholder Coliseum Capital Management, L purchased 492,852 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were bought at an average cost of $5.31 per share, for a total transaction of $2,617,044.12. Following the completion of the purchase, the insider directly owned 13,100,807 shares in the company, valued at approximately $69,565,285.17. This represents a 3.91% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.69% of the stock is owned by company insiders.

Owens & Minor Stock Down 3.1%

Shares of NYSE:OMI opened at $2.86 on Wednesday. Owens & Minor, Inc. has a fifty-two week low of $2.85 and a fifty-two week high of $15.54. The firm’s 50 day moving average price is $4.79 and its 200 day moving average price is $6.29. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 3.32. The stock has a market cap of $221.21 million, a price-to-earnings ratio of -0.18 and a beta of 1.27.

Owens & Minor (NYSE:OMI) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Owens & Minor had a negative net margin of 13.78% and a positive return on equity of 26.59%. The company had revenue of $697.26 million for the quarter, compared to the consensus estimate of $704.06 million. During the same period in the prior year, the firm posted $0.36 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Owens & Minor has set its FY 2025 guidance at 1.020-1.070 EPS. As a group, equities research analysts predict that Owens & Minor, Inc. will post 1.51 earnings per share for the current fiscal year.

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.