Massachusetts Financial Services Co. MA Invests $1.58 Million in Owens & Minor, Inc. (NYSE:OMI)

Massachusetts Financial Services Co. MA purchased a new stake in Owens & Minor, Inc. (NYSE:OMI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 100,823 shares of the company’s stock, valued at approximately $1,582,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OMI. Deerfield Management Company L.P. Series C raised its stake in Owens & Minor by 30.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 6,371,440 shares of the company’s stock worth $86,014,000 after acquiring an additional 1,493,852 shares in the last quarter. Foundry Partners LLC purchased a new stake in shares of Owens & Minor during the third quarter worth approximately $5,238,000. Renaissance Technologies LLC lifted its stake in shares of Owens & Minor by 16.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,246,600 shares of the company’s stock worth $16,829,000 after acquiring an additional 176,250 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Owens & Minor by 374.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 223,074 shares of the company’s stock valued at $3,500,000 after acquiring an additional 176,029 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Owens & Minor by 1.9% during the first quarter. Vanguard Group Inc. now owns 8,749,866 shares of the company’s stock worth $242,459,000 after purchasing an additional 162,182 shares in the last quarter. 98.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Jonathan A. Leon sold 5,282 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $11.82, for a total transaction of $62,433.24. Following the completion of the sale, the chief financial officer now owns 130,822 shares of the company’s stock, valued at approximately $1,546,316.04. This represents a 3.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.62% of the company’s stock.

Analyst Upgrades and Downgrades

OMI has been the topic of a number of research reports. Citigroup lowered their price target on Owens & Minor from $21.00 to $18.50 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Barclays dropped their price target on 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 lowered shares of Owens & Minor from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. 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 research note on Tuesday, November 5th. Finally, UBS Group reduced their target price on Owens & Minor from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.50.

Owens & Minor Trading Up 0.9 %

NYSE OMI opened at $13.31 on Thursday. The company has a market cap of $1.03 billion, a P/E ratio of -20.48, a P/E/G ratio of 0.47 and a beta of 0.41. Owens & Minor, Inc. has a 12 month low of $11.42 and a 12 month high of $28.35. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.45. The company has a 50-day moving average of $13.65 and a 200-day moving average of $15.09.

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

About Owens & Minor

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.