Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Stake in Owens & Minor, Inc. $OMI

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Owens & Minor, Inc. (NYSE:OMI) by 12.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 42,485 shares of the company’s stock after acquiring an additional 4,817 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management owned about 0.05% of Owens & Minor worth $387,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in OMI. GAMMA Investing LLC increased its stake in Owens & Minor by 7,245.3% in the first quarter. GAMMA Investing LLC now owns 83,663 shares of the company’s stock valued at $755,000 after purchasing an additional 82,524 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Owens & Minor by 1,387.0% in the 1st quarter. Parallel Advisors LLC now owns 3,316 shares of the company’s stock valued at $30,000 after buying an additional 3,093 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Owens & Minor by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 45,360 shares of the company’s stock valued at $410,000 after buying an additional 15,898 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Owens & Minor in the 1st quarter valued at $96,000. Finally, Mutual Advisors LLC grew its position in shares of Owens & Minor by 75.7% in the 1st quarter. Mutual Advisors LLC now owns 101,133 shares of the company’s stock valued at $913,000 after buying an additional 43,576 shares during the last quarter. Hedge funds and other institutional investors own 98.04% of the company’s stock.

Analysts Set New Price Targets

OMI has been the topic of several research reports. Bank of America dropped their price objective on Owens & Minor from $7.50 to $4.75 and set an “underperform” rating on the stock in a report on Tuesday, August 12th. UBS Group set a $7.00 price target on Owens & Minor in a research note on Wednesday, August 13th. Citigroup restated a “buy” rating and set a $7.00 price target (down previously from $11.00) on shares of Owens & Minor in a research note on Tuesday, August 12th. Zacks Research lowered shares of Owens & Minor from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Owens & Minor from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.63.

Insider Buying and Selling at Owens & Minor

In related news, major shareholder Coliseum Capital Management, L bought 492,852 shares of the firm’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 transaction, the insider owned 13,100,807 shares of the company’s stock, valued at approximately $69,565,285.17. This trade represents a 3.91% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders purchased 1,537,852 shares of company stock valued at $8,099,544 in the last quarter. 3.69% of the stock is owned by insiders.

Owens & Minor Stock Down 1.1%

Shares of NYSE:OMI opened at $4.79 on Monday. The company has a market cap of $369.59 million, a price-to-earnings ratio of -0.31 and a beta of 1.26. The firm’s 50-day simple moving average is $5.54 and its 200-day simple moving average is $6.93. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 3.32. Owens & Minor, Inc. has a fifty-two week low of $4.56 and a fifty-two week high of $15.54.

Owens & Minor (NYSE:OMI) last announced its quarterly earnings data on Monday, August 11th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Owens & Minor had a negative net margin of 13.78% and a positive return on equity of 26.59%. The business had revenue of $681.90 million during the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the prior year, the firm posted $0.36 EPS. Owens & Minor’s revenue for the quarter was up 3.3% 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 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.