Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Owens & Minor, Inc. (NYSE:OMI)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Owens & Minor, Inc. (NYSE:OMI) by 374.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 223,074 shares of the company’s stock after buying an additional 176,029 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.29% of Owens & Minor worth $3,500,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in OMI. Quarry LP boosted its holdings in Owens & Minor by 290.1% during the second quarter. Quarry LP now owns 2,099 shares of the company’s stock worth $28,000 after buying an additional 1,561 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Owens & Minor in the second quarter worth about $43,000. DekaBank Deutsche Girozentrale increased its position in Owens & Minor by 76.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 3,126 shares of the company’s stock worth $43,000 after purchasing an additional 1,356 shares during the last quarter. Blue Trust Inc. increased its position in Owens & Minor by 176.8% during the third quarter. Blue Trust Inc. now owns 2,787 shares of the company’s stock worth $44,000 after purchasing an additional 1,780 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Owens & Minor by 100.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 6,071 shares of the company’s stock worth $82,000 after purchasing an additional 3,044 shares during the last quarter. 98.04% of the stock is owned by hedge funds and other institutional investors.

Owens & Minor Stock Up 1.0 %

Shares of Owens & Minor stock opened at $12.35 on Monday. Owens & Minor, Inc. has a 52-week low of $11.42 and a 52-week high of $28.35. The company has a 50 day moving average of $13.75 and a 200 day moving average of $15.16. The company has a quick ratio of 0.45, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The company has a market capitalization of $952.30 million, a P/E ratio of -19.00, a P/E/G ratio of 0.42 and a beta of 0.41.

Owens & Minor (NYSE:OMI) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the previous year, the firm earned $0.44 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. As a group, research analysts forecast that Owens & Minor, Inc. will post 1.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on OMI shares. Barclays dropped their price target on shares of Owens & Minor from $18.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. StockNews.com cut shares of Owens & Minor from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Citigroup dropped their price objective on shares of Owens & Minor from $21.00 to $18.50 and set a “buy” rating for the company in a report on Tuesday, November 5th. JPMorgan Chase & Co. dropped their price objective on shares of Owens & Minor from $22.00 to $18.00 and set an “underweight” rating for the company in a report on Wednesday, August 21st. Finally, Robert W. Baird dropped their price objective on shares of Owens & Minor from $19.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.50.

Owens & Minor Profile

Owens & Minor, Inc, together with its subsidiaries, operates as a healthcare solutions company worldwide. It operates through Products & Healthcare Services and Patient Direct segments. The Products & Healthcare Services segment offers a portfolio of products and services to healthcare providers and manufacturers.